The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1901-07-19
WHY CREDITS ARE CUT.


which may in the future cause the peo-
pie to rise and call the members other
than blessed, none will be more active
nor far-reaching than the measure
known as IAN act to provide for the
exemption of certain personal property
from attachment, execution, distress
and forced sale of every nature and de-
scription; and repeating an act entitled
An act to facilitate the recovery OF
rents, passed on the 10th day OF Janu-
airy, 1865, and all other laws ana
parts Of laws in conflict with this act
The provisions of the act are SO vice
that the purposes for which 1t was
passed are more than accomplished. IL
it was the desire of the men who Ia
vored this law to prevent the sale OF
the property of their constituents TO
secure the payment of any debt which
they may contract, it seems more than
probable that this plan will be entirely
successful. The far-reaching effects OF
the act make it we'll worth the reading.
The act in full was published in the
Advertiser, April 2Tth, and is too ex-
tended to be reprinted here. 1t will be
enough to say that there is nothing IN
the way of personal property, except
perhaps diamonds, which are not eX-
empt from attachment. Further than
this, under the act, there may be no
garnishee on the wages of any head of
family up to 5000 and of any other
person to the sum of $50. With these
provisions it will be seen that there is
practically a suspension of the opera
lions of the law by which suit may be
entered to recover small debts, whether
for rentals or for any other object.
The bill was meant to prevent hard
ship being worked upon the worthy
poor, the persons who for any reason
at all find that they cannot pay their
debts, and for whom the provisions of
this measure mean a safe discharge
without the sacrifice of all their be-
longings. In it's intent it presupposes
that there are to be debts for which,
they being unsecured, the personal es-
l'tates of the debtors will be liable. There
| is where the greatest error of the bill
promises to be. AS soon as the bill be-
came law and the merchants became
aware of its provisions, there was an
! immediate stiffening of the credit sys-
| tens. Where before in this city any
respectable workingman was able to
| find credit for the necessaries, and many
of the luxuries too, the time has come
when it is scarcely possible for one who
| is not well known and thoroughly re-
sponsible to have the courtesy of credit
extended to him. Where before those
who needed the accommodation of time
for the payment of their bills, owing
| to the generalization on small crops
or the non-payment of wages, could
find tradesmen who would see then
through any tight place, now there i.
often refusal, and as often an indica-
ton that 1t is not thought wise to per-
nit the line of credit to assume large
proportions.
1t will appear at glance that such
provisions will work a hardship upor
the very men for whose benefit the bill
was framed The men of small sala
ries, under 5000, for those who hav,
families, and less than $50 for thos,
who are single, will feel the weigh
first, in that they will never be able t.
secure the little accommodations which
make the maintenance of a family pos
lsible without some Inconvenience
growing out of lack of ready money
though full enough is due to meet ever,
obligation. It is not the men of larg
means even though they may be O
1.-THE Understanding class, upon whom
this change in the conduct of bushes
will fall with weight The weli-know1
and thoroughly reliable ones will fin,
no scaling of their lines of credit TIL
man who needs is the sufferer.
4 But there may have been an economi
purpose which is not apparent at frs
glance. It may have been in the MINI
Eof the astute individual who framed thi
bill to prevent the workingmen from
buying beyond their means. The ex
emptions are so wide that they indicat
that the father of the bill had eithe
had knowledge of the task of collection
of what are known as "bad" bills o
has had hard time lodging a collect
or. So In an effort to protect the work
ingman, it has been done at the expens
of his comfort He will not be able t.
spend SO much, for there will be n
credit, and it is a fact that it is unde
such system that extravaganza turks
So the public benefactor will gain hi
point, unless there appears a thrivin.
industry, which has for it's sign thre
golden balls. and the articles exempted
from the collector go into his nav, a!
money often has to be raised. With tn,
cutting off Of credits the men who hav,
to sell will not suffer so much as thos,
who have to buy, and hereafter mus
bring cash with an order.