The Way to Effect Reform.

It is quite clear that to bring about a reform of a really universal (as far as concerns this colony) nature, legislation must be the weapon upon which we must rely. Without it, there can be no hope of the pernicious system of long credit being done away with. A few determined individuals might combine and refuse to do business except on cash principles, but they would soon find out that that was paramount to closing their establishments altogether as the credit giving firms would soon secure all the trade. And even if a widely organised association were formed, similar to those which the fire insurance associations combine themselves into, there would always be Outsiders, men who would decline to be bound down to any rules whatever, no matter how fair or necessary, and these outsiders would soon be the cause of the combinations being broken page 3 up. Neither is it of the slightest use preaching to the people, who would only consider it a gross piece of presumption if their private affairs were made the subject of what they might rightly call an unwarranted attack.

Legislation, and nothing else, will abolish the practise of giving long credit; and to that we must turn our attention. The present Statute of Limitations renders it possible for credit to be allowed for periods not exceeding six years. This length of time must be reduced. This and this alone will effect a reform.