The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1929-06-05

IflnteFeSt IN D0Ju aulOnOblNo anu
financial circles was the organiza-
ton Of Universal Credit Company
for the purpose Of financing Ak
clusively the time sales Of Ford
products throughout the country.
Ultimately service Of . similar M
ture win be provided In an cotil.
tries wIaare Ford products are sold.
The reception accorded the COM
pany IN the first year 0k business
was phenornenal. proving the plan
sound and gratifying progress has
been made.
Today U. c. c. has purchased in.
stalment contracts In excess Of $751;
900, 900. which establishes q new
record IN instaIment financing for
an institution that has only been IN
operation for one year. It ID antici.
pated that the volume OF business
from now on win be IN excess OF
$25, 600, 600 monthly. In the short
space Of one year the organization
has grown from 10 people to one eHzl.
ploying thousand
BY extending credit 70 every de-.
serving person IN the nation ut the
powest possible cost. D. G. G. IL
helping to bring greater health and
happiness to q large group Of
American people. heads Of families
as well as children.
Thomas Edison, an outstanding
genius Of our time, has recently
said on the subject Of instalnaent
selling:
what We call instalment buying
Ii one OF the methods by which we
are preparing to take immediate adj
vantage Of the opportunities for q
higher standard Of living through
machine production. That IL q
method Of saving in goods instead
of saving In money. In the old
days 4 man spent most OF his life
getting ready to die. He saved
against rainy day gainst old age.
Now, although 1t Is nice thing to
have d fund to fall back on, q
family thinks more OF living than
OF dying.
People who work for wages sell
dom come into the possession Of con.
siderable funds. Unless they save,
they can hardly ever buy an article
costing over $50 or 500. Their In.
comes, however, Justify the posses-
sion OF more expensive articles that
contribute to their comfort or their
enjoyment, such az automobiles,
Photographs, radios and books, AZ
well Ms many household convent
enoes. There Is no reason why the
manufacturers OF these articles
should not aid In the purchase hy
shifting the point OF saving from
before purchasing until after pur.
chasing.
IL the cost Of living goes down
and invention and engineering are
bound to drive 1t doWn-and wages
go higher and they are bound TO
so higher with more efficient pro-
duction--then still more attention
can be paid to living rather than
dying. This whole instalment ayS.
tenn which Is gradually developing
along business lines win be d neces.
sary part Of the job Of having con.
sumption both increase and diversity
in order to take care Of production.
Saving by people Of moderate
means, in order to provide funds for
investment, is not 50 necessary as
1t used to be. The big companies
are able to provide their own invest.
ment funds to 8 considerable degree
out Of their own earnings. We are
getting 81 new slant on savings BY
the individual Of comparatively
small earnings. One evidence Of
that II the giving &c more attention
to living than to dying. That means
that people ID general have greater
confidence In the future than they
used to have"
Sound spending BY the recipients
Of American high wages logically
follows. IL industry Is to continue
to create products they must be con;
sumed. To make this consumption
possible by the wage Garner who
helps create the product, the manu-.
faeturer presents low cost finance
plans and makes available credit
where credit Is due. A sound install.
ment plan Is now one Of the neces-
sary elements % eur modern busi.
neas svgtsm and = 90 reed nissd.