USE OF SYSTEM IN U.S.
"IMPORTANT WEAPON FOR STABILITY” {New Zealand Press Association)
AUCKLAND, June 5.
Because not only his house but his car, washing machine, and refrigerator are subjects of a hire-purchase agreement, the American worker thinks twice about going out of employment, and very few minor disagreements result in strikes or walk-outs. This was found by Mr M. M. N. Corner, assistant manager of the Auckland Savings Bank, who returned recently from a three months’ visit to the United States at the invitation of the National Association of Savings Banks. Speaking at a luncheon meeting of the Auckland Creditmen's Club today. Mr Corner said that thrift was practised in America to a very great degree. and he had realised for the first time that hire-purchase agreements on certain articles were a form of thrift. A leading American banker had told him that hire purchase was an important weapon for the country’s stability.
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Bibliographic details
Press, Volume XCIII, Issue 27987, 6 June 1956, Page 8
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154USE OF SYSTEM IN U.S. Press, Volume XCIII, Issue 27987, 6 June 1956, Page 8
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