CREDIT FOR ALL

Gisborne Times, Volume LXXXII, Issue 12525, 10 April 1935, Page 7

CREDIT FOR ALL

(To the Editor). Sir,—'This demand, which is being advocated! by so many, can only mean that if any citizen desires credit and is unable to obtain it on the strength of His own personal worth ho may call on the community to back him. So many, who Speak and' write on this matter of credit, seem to overlook the fact that there is really no difference between public and private credit, they both depend upon, ability and intention to honour an obligation.

The credit of the community depends upon the belief that it has the means to satisfy its debts and will tax itself in order to pay them—A man’s credit is similarly based on the confidence that- he will meet Jr is* obligations—Credit after all is only another form of borrowing. When people point to the huge sums of money on deposit, and Hama those who hold it for not expanding credit, by putting this money out of use, they seem to overlook Ihe fact that it is not a simple matter to get credit into circulation. Anyone with money is only too willing. In lent; to one who is credit-worthy. Unemployed money is ns much disliked by its holders ns unsold' goods in a

shop. The trouble today is not the want of money for advances, but the lack of sound security—No one who is credit-worthy has the slightest trouble in getting credit. Those who cannot get it and who demand it as of right from the community are practically rfaiming the right to pawn their neighbour’s goods to raise the wind.—We are. Yours etc. N.Z. WELFARE LEAGUE,