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COMMERCIAL TRAVELLERS AND…

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COMMERCIAL TRAVELLERS AND THE MONEY-LENDING INQUIRY. THANKS TO MR. YERBURGH. The Commercial Travellers' Association are energetically identifying themselves with the crusade against the usurers who abuse the money-lending system of the country. The hon. Parliamentary agent to the association, Mr. T. E. Wing, has written to Mr. Yerburgh, M.P., through whose motion the Parliamentary Committee was granted, in the following terms:— I am requested by the representatives of the Commercial Travellers' Association, in conference assembled, to thank you for your great services to the commercial world generally in obtaining the appointment of the Special Committee of Inquiry re money-lending, the evidence before which must have startled the trading world. I have never more heartily endorsed public action, nor have my association ever more enthusiastically emphasised zeal in the common weal than in this matter. You may rely on our association assisting you in any wise action you may take in clearing the com- mercial world of those diabolical wreckers. Kindly convey to Mr. Farrow our thanks for the heroism he has displayed in the exposure of these wretches. The attitude of the Commercial Travellers' Association in this matter is inspired by the knowledge that during recent years firms having business relations with small retail traders have suffered enormously through the operations of unprincipled money-lenders, who put before general traders in financial diffi- culties tempting advertisements in reference to cash advances. Money is advanced at extortionate rates of interest, and the result too frequently is that all the property of the dealer is seized by the money-lender, leaving the wholesale trader minus any assets. The Commercial Travellers' Association claims to be interested in everything which tends to financial morality and the protection of the wholesale trader. They say that when whole- sale traders are affected by the operations of the money-lenders, they, their representatives, suffer in many ways, and it is their bounden duty to help to purify trade and commerce as against a class of people who live by extortion and the appropriation of other people's goods under the euphonious term of realising on their bill of sale. The Hull Chamber of Commerce, following in the footsteps of the Nottingham Chamber, have just passed a resolution to the effect that in view of the recent revelations in the money- lending inquiry before the House of Commons Committee, Government be urged to bring in a Bill to make the registration of the names of partners in trading firms compulsory.

BOARDS OF GUARDIANS. +

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