AN ENGLISHMAN’S WORD

Poverty Bay Herald, Volume LV, Issue 17067, 27 September 1929, Page 14

AN ENGLISHMAN’S WORD

WHY BRITAIN IS TRUSTED A WARTIME EXPERIENCE Why London, despite the recent advance made by the United States, is still regarded as the "world’s clearing house 1 ’ was related by Mr. W. IJ. Hunt in an address at the Accountants’ Chambers at Wellington. A member of the Wellington Accountants Students Society asked Mr. Hunt if there was any livelihood of an English buyer refusing U> 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 possibility of an English merchant refusing to take delivery of a shipment. "1 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 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 way, but, gentlemen, they were worthless, as the goods were at the lx it tom of the sea. Notwithstanding the fact that the British Government had introduced the moratorium, all the London merchants, except one, when the drafts wore presented for our produce promptly wrote out cheques for the full amounts as if this was Hie natural thing to do. The one exception advised our London otlice that lie 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 we had forwarded by the Kaipara. '1 hope you will not hold this as a black mark against me,’ he said, as he paid over the cheque for goods lie had never received, ‘hut- 1 was so badly hit by the war that I had to keep you waiting a fortnight for your money.’ Now, there was no liability on the part of those London merchants to pay for the goods which went down in the Kaipara. They were not insured, as no one. thought of taking out war risks before the world war started. I simply tell you this to prove to you that English merchants are the soul of honor and integrity, and New Zealand producers have little fear of a London merchant refusing to accept delivery of a shipment. An Englishman's word is his bond.” —Dominion.