The Westport Times. FRIDAY, APRIL 25, 1873.

Westport Times, Volume VII, Issue 1066, 25 April 1873, Page 2

The Westport Times. FRIDAY, APRIL 25, 1873.

The ruling prices charged on the West Coast for the necessaries of life has of late aroused some public discussion in Ilokitika, and a change to more reasonable rates has been warmly advocated. It has been shown that while the " butcher and baker and candlestick maker " are always ready to contract for the supply of their goods to public institutions—gaols and hospitals and so forth—at very low prices, without taking to themselves an)- credit for philanthropic intentions, they yet by a tacit understanding among themselves contrive to screw from the pockets of their retail customers a per centage of profit that reduces the buying power of a one pound note in a very perceptible degree, when compared to the value it possesses in other JN ew Zealand communities. Particular stress has been laid upon the high charges for meat and bread, and although the dealers therein would fain have tho public believe that their seeming large profits only result in small gains to themselves, by reason of trade losses and heavy expenses, yet some of the fraternity have so far accepted the dictum of public opinion as to offer to adopt reduced prices if ensured an increase of custom. One baker expresses his readiness to sell the four pound loaf at ninepence, and one knight of the cleaver has cheered paterfamilias by advertising " meat for the million" at prices ranging from 2d to 5d per pound " for cash or weekly payments. These worthy traders have solved the problem, cutting at once the gordian knot of difficulty and showing how cheap prices may be attained and perpetuated. The whole secret is embodied in the magic words " cash down," the one and only trade maxim which in its observance will ensure to the consumer full value for his money. Unfortunately the credit system has so entangled in its meshes people of every degree and station that it seems almost impossible except by slow and uncertain degrees, to obtain release from its vexatious thraldom. The trader is perforce compelled to charge excessive rates, and the few who, having the ready money at their disposal, are always willing, in homely phrase, to pay as they go, find they have to submit indirectly to bear a portion of the risk attached to the dealings of their less honorable or more impecunious neighbors. The whole question of Cash versus Credit needs adjustment, and the solution of the dilficulty will be perhaps best attained by the adoption of the advice that all power of suing for debt should be taken away; as advocated some short time since in influential home journals. A contemporary referring to the valuable results that would immediately follow, thus enumerates them : "First, credit would not be given to doubtful parties, and it would be impossible for such men to run into debt. Secondly, at least one-half of the present legal machinery—judges, lawyers, clerks, and bailiffs—would suffice for all our wauts. Thirdly, merchants aud storekeepers —knowing they would have no bad debts to write off—would be able to sell goods twenty per cent, cheaper. Instead of living upon next quarter's income, everyone would have to live upon their present means. Mercantile credit is really only forestalling by three months the profits to come, and if evoryone was in the same plight there would be no hardship after tho first go off to anyone. A. simple Act abolishing all proceedings to recover debt after the Ist January, 1875, would effect tho whole matter. Debts, if they existed at all, would become debts of houour, and until public opinion procured the certain payment of almost all such debts (and this itwould inevitably accomplish) credit would be withheld. At present debts of honour are usually paid. It is the possible resort to a law court to settle difficulties that tempts many to exceed their means and evade their just liabilities."