AN ENGLISHMAN’S WORD

Hokitika Guardian, 1 October 1929, Page 2

AN ENGLISHMAN’S WORD

WHY BRITAIN IS TRUSTED BY THE WORLD.

WELLINGTON, September 27

Why London, despite the recent advance made by tiie United States, is still 'regarded as the “world’s clearing house” was related by Mr W. D. Hunt in an address at the Accountant’s Chambers last night. A, member of the Wellington Accountants Students Society asked Mr Hunt if there was any likelihood of an English buyer refusing to accept a consignment of New Zealand produce upon the question of quality. Mr Hunt replied that London merchants had for years been dealing with overseas producers, and they, valued so highly their own good name that there was not the remotest possibil ity of an English merchant refusing to .dee delivery of a shipment. ‘‘l will give you an instance,” said Mr Hunt, “which will prove to you the high integrity of London merchants. Just before the war broke out, my firm (Wright, , Stephenson, and Co., Ltd.) shipped a quantity of produce to London by the s.s. Kaipara, which was attacked and sunk on the voyage Home by a German raider. The documents connected with the produce we had shipped went forward to London in the usual wgy, but, gentlemen,; they were worthless, ns the goods ivere nt the bottom of the sea. Notwithstanding the fact that the British Government had introduced the moratorium, all the London, merchants, . except, one,, when the drafts were presented for our produce promptly wrote out cheques for the full amounts as if that were the natural thing to do. The one exception advised our London office that he would have to shelter behind the moratorium as he had been very severely hit by the outbreak of the war. Within a fortnight, this merchant called at our London office with a cheque for the amount of the goods Ave had forwarded by the Kaipara. ‘I hope you will not hold this as a black mark against me,’ he said, as he paid over the cheque for goods he had never received, but I was so badly hit by the Avar that I had to keep you Avaiting a fortnight for your money.’ Noav, there Avas no liability on the part of these London merchants to pay for the goods' Avliich AA’ent doAvn in the Kaipara. They Av;ere not insured, as no one thought of taking out Avar risks before the AA-orld Avar started. I simply tell you this to prove to. you that English merchants are the soul of honour and integrity, and NeAV Zealand producers need have little fear of a London merchant refusing to accept delivery of a shipment. An Englishman’s ..word is his bond.”