TRADE PROTECTION SOCIETY.

Timaru Herald, Volume VIII, Issue 268, 21 December 1867, Page 2

TRADE PROTECTION SOCIETY.

A meeting of storekeepers and others interested m the formation of a Trade Protection Society for this town was held at the Royal Hotel on Wednesday evening last. Although the weather was very unfavorable, about thirty persons were present Mr Younghusband was voted to the chair, and stated the object of the meeting, which had been called for the purpose of forming a protection society, and also for discussing the hurtful tendency which the credit system so much m vogue here, had ' upon the welfare and prosperity of Timaru. He heartily sympathised with the movement, but did not think he could afford much assistance m the way of information, as for the hut fourteen years he had been a most unmitigated ready money tradesman. He had been the only one m Christchurclrwho would neither trust a Bishop nor a Superintendent [Laughter.] Whilst, however, he lived m Timaru, he depended upon the trade and prosperity of the place, and would be always happy to support it both m his person and his purse to the best of his ability. . Mr J. Kino said that the object was to have such a registry of bad names that they

might easily refer to the list and find oat those persons, who were unworthy of credit. He had never seen the system worked, but was convinced that, if brought into operation, it would be a most advantageous one. He took it to be an association of trades, who would agree to give each other every information they possessed with regard to any black sheep. The names of all those who came under that denomination would be entered m a book by the secretary, wjio,, would also correspond with similar societies m other parts of the colony. If they formed themselves into an association with such anobject they would stand m a fair Way of not* being duped as at present, when - a man, . as soon as his credit was stopped at Mr A's, went and ran up a bill at Mr'B's, and soon through the whole alphabet. Mr Healey said ; that he had. had some connection with Trade Protection Societies, and the usual way was to communicate with other bodies of the same nature for the sake of obtaining useful information. Besides the general register, an account was also kept of all bills of sale, mortgages, aud so on, and every member would be furnished with a copy from month to month, and all dealers were thus quite au.fa.xt with everything that was passing arouud them. He had always seen the system work very beneficially. Of course it was not imperative upon any member of the society not to trust an individual who was m the black list, but it was left to his own judgment and his own risk. The duty of the society ended with giving the information of which it was possessed. The Chairman explained at some length the working of protection societies, m London more especially, as far as booksellers and publishers were concerned. Besides a general society for each part of that city there was one for almost every trade, by means of which the desired information was disseminated. There was no doubt that the tradesmen of Timaru would have been the gamers Uy a very considerable sum if the system had been adopted some time since. As a member of a private family m the place, he wished 'to say that he had, with scarcely an exception, always paid ready money, but he had always considered himself treated considerably worse than. the man who took ostensibly three months, but really twelve or eighteen mouths credit. A man who paid ready money paid very dearly indeed, that was his own experience 'at least.' •They would b<e putting trade upon a better and more secui c footing if the society were properly worked. ? After some discussion, . . Mr Hbaley moved:— "That a Trade Protection Society be formed m Timaru." Mr L. Pkiob seconded. Carried. - -" Most , of those persons present then enrolled themselves as members of the society. Mr Todd moved : — "That it is desirable that the society take into consideration the limitation of the credit system." .Mr Kino seconded. Carried. Mr Healey moved: — "That the committee consist of Messrs Wood, Stubb?, French, Seymour, Shepherd, Todd, H. Salomon, Flockton, Cain, Drake, Munro, Fyfe, Kuight and Acton, with power to add to their number, five to form a quorum." Mr F. Shrimpton seconded. - Carried. Mr J. King was unanimously elected honorary secretary. ' i A vote of thanks was then accorded to the Chairman, and the meeting adjourned to Monday evening next. A meeting of the committee was held after the terminatiou of the general meeting.