7605. Do you know whether the price credited to the debtor in such a case is generally a fair price?-I have no means of knowing that.
7606. Is the price ascertained by a public sale?-It may be in some cases, but I know in many cases it is not.
7607. Do you think that, for the introduction of ready-money system, a multiplication of banks would be necessary?-I don't think it.
7608. Does not the fact that banks only exist in Lerwick act as a bar to the introduction of such a system?-No; I think that difficulty could easily be met. For instance, the Union Bank at Lerwick had their principal institution at the top of the town; but when opposition came, they opened small shop in the principal street in Lerwick, and they have now two offices there, a small one and a large one. Now, if the credit system were put an end to, for the sake of both parties, both merchants and people, there would soon be a small bank opened at Hillswick, if it should be nowhere else.
7609. How do people do with regard to banking just now?-The banking is very easily conducted, so far as I know, because the people have little money in their hands.
7610. Don't you know that many fishermen have large accounts in the bank in Lerwick already?-I know that some of the fishermen have a little there; but I know that the large accounts are not in the banks. I know from their statements where they get 5 per cent. for their money, and that is not from the bank.
7611. Where do they get that?-I won't mention any particular place, but they get it from the merchants in Shetland.
7612. Are there many men who are in a position have accounts of that kind with the merchants?-Several of them of the better class have told me about that themselves.
7613. Are these the one-fourth or one-third of the whole whom you mentioned, or a part of them?-They don't make one-fourth of the whole. The parties who could have such accounts would not perhaps come to one-sixth of the whole. Of course, I am speaking generally when I give that proportion.
7614. Do you mean that it is only one-sixth of the one-third who are well-doing, that have such accounts?-I should say it would not be more than one-sixth of the one-third who had them.