MORE CREDIT NEEDED

Sun (Auckland), Volume I, Issue 125, 17 August 1927, Page 5

MORE CREDIT NEEDED

MODERN ECONOMIC FAULTS NEW SYSTEM ADVOCATED A plea for a rational application of credit benefiting people 'in industry was made by Mrs. M. Hyams last evening in a lecture on “The New Economics,” which she gave to the Civic League in the Priscilla Tea Rooms. The speaker said that higher economics and shopping were one, but simple economics had vital interest for everyone. The question of meeting the varied financial obligations of modern life was encountered daily, and people everywhere were suffering from money shortage. Goods were glutted on the market because there was not sufficient money to buy them. In addition to the factory products, the consumer paid the wages of the workers, the cost of machinery and buildings, and there paid for much more than he received. The community was becoming poorer because of the absence of a proper system of credit enabling the consumers to purchase goods, and the only remedy was an adjustment of the credit system to meet the consumer. “Credit,” Mrs. Hyams said, “is the basis of our economic life. Why cannot we evolve a system allowing people to have the necessaries of life, and also some of the luxuries?”