THE TEN POUND CLAUSE.

Star (Christchurch), Issue 34, 23 June 1868, Page 3

THE TEN POUND CLAUSE.

TO TUB BDITOn OV TJIJD BTAn, 6ir,— Wlmt ft hubbub tho retail trading community arc raining about; tU« XlO iiou<Hmprlflortw«nfc«l«««« In the yvwwt D<Mom ana Credltowi Act, an<l, it npponra to mo, without just oauuo y for if Ihoy would unito nu f rcoly to givo no credit wliutovor a» ilioy do to petition tho Ilouito of Roprooontativost 'tlioy would, in (» v«ry abort time, liayo little to compliiln M (IcfAiilUiiK <lob(ors. HiU no I Tlioy will toll you tliat compellllon la too .keen to altompt to carry on bunlnoaa witliout credit i as, it nomo of thorn woro to attempt it, othcro would Immediately cnlarjzo thotr ,crc<Ht, in order Jto catch ofilcndcd ctistomore, and I liavo heard tills no often, that the concluilon I liavo nrrivod at, in that Micro aro about douhlo m many retail tradors In Ohrlfltohuroh an aro ablo to got nn lionoat llrlng out o£ tholr IxminoHfl, and mimborn of thorn nro so rccklofifl (to uho no hivrnlior term) thftfi tlioy will ratlior do lxiolncHfl on vory doubtful credit than nhut up nhop and filvo a ohanco of ouocono to thono wlio know how. and really t!o« oarry on bnulnenß oj) Hoimii buelncHß principled, In fact, tho vrrotobod " tick " fiyfltom linn already brought tho proTlnoo to tho vorgo of bankruptcy, and anything having a tendency to cu'cumscrlbo such a fiyfltom niiould bo rollgloiiflly proiorvod rather than repeal ud. A writor in your Monday')! iflfluo nayn it in " all booh "to anncrt that tbo irading community aro klyliiriiiillmik'd " tick j " but II! not unllmltod, they , arc giving a deal mava credit than tlioy can lionofltly afford, and after novontoon yearn' rcnldonco in Cantorbury I can annuro him that Bcorcn of casofi liavo como under my own notlco wlioro tho trailcflinaii iian (umjitod unlucky wJglilu to fiet Into hlfl debt by |{lvlti(i( at flrnt flupei'lor gooila nl caiih pi'lcoii, but no soon as ho wan no (loop nn not to bo üblo to oxtrloato himnolf at onco, Mr Trader Inrnu round and oliargon him tvronty or thirty per cent more for Inferior koo<lh than outfltt to Jinvo been charged for tbo best, boaldoH florowiiifl him down no that nnytlilug ho wanted, no matter whothor in tbo trador'u lino or not, had (o bo got through dim, and the poor wretch had to pay a double .profit, Many men of fair proHpooto liavo I known to bo completely ruined by tliowo meaiiM, From conatantly etudying tbo insolvent roporiH I Imvo como to tbo conclusion that tliero iv a plontlful Inok of anythlnK lllco commercial honour amongot a great number of our tradesmen, and tho main portion oi! them aro very willing that tho mcflhua of tlio limolvont net flbnll bo no conutruotcd that all tbo largo flflh may encapo, but tho wro tolled llttlo onoa mu»t bo caught and nuniflliod, X bollovo tho only thing limb will mako thorn fool that lionoflty, In the hroadoot floiifio of the word, 1a tho bent policy, will be a little lobb from its oppofllto. In conclunlon, lot mo nay that when rotall credit is very conjildorably curtailed, thon, and not till then, nmy wo expect a return of something Ilko pronperlty. Apolglwlng for tho extremo lengtli of my remarks, I remain, your obedient servant, A,