THE INSTALMENT PLAN

Hawera Star, Volume XLVII, 25 July 1928, Page 8

THE INSTALMENT PLAN

TOO READY CONDEMNATION

PROFESSOR. BE LSI! A W’S VIEWS

An endorsement of the instalment selling system was given by Professor H. Belshaw in an address to the Auckland branch of the Economic Society. “The instalment selling system is likely to prove a commercial instrument of great value to society,” asserted Professor Belshaw. “The system has come to stay, and it will inevitably be extended. It is now an intregral part of our commercial system, and is capable of extending materially the range of human enjoyment.” A desire was expressed by Professor Belshaw, not so much to defend the system in its general operation as to

emphasise that criticism should be constructive. Much of the criticism was irrational and prejudiced, and could be le cel led equally at other credit systems The effect in enforcing saving must not be overlooked. While the trader enjoyed good security by possessing a lieu on the goods, the consumer enjoyed the use of. the article while he whs saving to purchase it definitely. Most of the goods sold under the system were durable, and had a considerable life after they had been completely paid for. “There is too ready criticism of the system on the ground that it encourages expenditure on luxuries,” said the professor. But the system covered a wide range of articles, such as sewing machines and electric cleaners, which perhaps luxuries in one generation, were everyday essentials in the next generation. In the absence of directevidence of the effect of the instalment system in New Zealand, the speaker preferred to leave the consumer to judge what he should buy. He believed the evil perceived by so many critics to be not at all pronounced, '