HIRE-PURCHASE SYSTEM.

Waikato Times, Volume 102, Issue 17131, 18 June 1927, Page 6

HIRE-PURCHASE SYSTEM.

In these times the consideration of the financial resources of the public is a matter of constant concern. Evidences are not far to seek that the purses arc mucli more slender than they were a few years ago. With many it is a hard struggle to make ends meet while, oii’ the other hand, we find the demand for luxuries almost as great as ever. There is one heading under which a great deal could he done to entice people to live within their means. That is by the Government causing a rigorous survey to bo made of the provisions of what is known as the Chattels Transfer Act, insofar as the schedule of articles regarding which hire-purchase agreements can he registered is concerned. While the original intention of the system was to make it applicable to articles used only in production, that period has long since passed and the facility afforded under it for the purchase of luxuries is such as to be a real cause for alarm. Students of commerce have gone so far as to express the opinion that the extension of the hire-purchase system to articles of luxury is a real menace to the Dominion. The growth of the system is also causing alarm, in the older countries, of Britain and America. It is high time that the position was reviewed and the Act amended in accordance with the intention of its framers. This is a protection that will be in the interests of the public and of the Dominion.