Consumer Credit
Sir,—l suggest your leading article gave undue encourJ agement to the continued expansion of hire chase of consumer goods. You stress the danger from excessive pressure to increase imports but do not mention another serious fault in the system. This is the heavy added cost of the goods; also the high addition to tha country’s capital structure, with; its inflationary effects, which will increase the banks’ entry into this business because much of their capital will not come from savings. In addition to the money costs, there is the added middleman labour withheld from the production of goods. Surely the original usage, where this system was largely confined to newlymarried couples, was preferable. If other families were willing to wait about a year and use the five months free credit system they would save about 13 per cent, as well'as the indirect costs to themselves and others.—Yours, etc., A. K. DYNE. July 17. 1959.
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Bibliographic details
Press, Volume XCVIII, Issue 28950, 18 July 1959, Page 3
Word Count
156Consumer Credit Press, Volume XCVIII, Issue 28950, 18 July 1959, Page 3
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