JUDGE KERR ON THE CREDIT SYSTEM.

Waikato Times, Volume XXVI, Issue 2167, 29 May 1886, Page 6 (Supplement)

JUDGE KERR ON THE CREDIT SYSTEM.

In addition to dispensing justice in th« City of London court, Mr Commiuiooer Kerr takes advantage of bis position on the judgment aaat to distil words of wisdom for the bene6t of ligitants. Mr Crook, who appeared before the Commissioner recently in the capacity of m I creditor for £12 against a man named Bennett, who made a munificent offer off threepence in the pound in liquidation off his debts, went away a sadder and wiser creditor ; but if in the future he act* upon the advice given him by the court, he may not, in the long run, regret the* loss of his twelve pounds. Mr Kerr pointed out that the only real remedy far the state of affairs so frequently disclosed in his court is the ready-money systemHe argued with great truth that " the: fatal facilities given for getting into debt"* are bad all round, for the honest purchaser has to pay for the losses incurred! by the dishonest one. Them is no doubt that, were it possible for tradesmen to* insist on cash payments, it would be* greatly to their advantage, as well as to that of their customers. To strengthen his argument the Commissioner referred to the various co-operative societies whoset success depends entirely on the readymoney oy stem. Threepence in the pounds payable in six monthly instalments, m also a strong argument against credit ia ordinary transactions.

United States Government axd Land.— From the year 1800 till 1881 the United Statea Government ceded 192 million acres of public lands to railways, 77 million to schools, G2 million to military, and 30 million for other parposes, besides 248 million acres in rale* to settlers, this last item including 67 million granted in homestead lots at 2d pec acre. A Yankee fisherman tells an expantir* story of his experience with a sturgeon he hooked in the Pocomoke. He called upon a friend to assist him in getting the tish into the boat, but the friend being afraid of it left him to manage as beat he could. Being afraid of losing hi*, prize he sprang upon the back of the fisb» caught it by the gills to keep its head out: of water, and with kicks and yell* rode it ashore.