The Sale of Goods to The Public on Credit

Abstract

Credit sales to the public, i.e., on an installment basis, are acquiring more and more significance for the development and improvement of retail trade in our nation. The constant and considerable growth in the production of consumer goods, especially durable goods, and the steady rise in the organizational and cultural level of Soviet trade are the basic prerequisites for the expansion of the sale of goods on this basis. At the same time, the development of consumer credit is itself stimulating the expansion and increased effectiveness of the production and sale of consumer goods. By way of example, it can be noted that the sale of goods on a deferred-payment basis furthers the expansion of progressive forms of trade (on the basis of samples, advance orders, home deliveries of goods, etc.) and exerts a considerable positive impact on the expansion of production and sale of consumer goods. With the absolute domination of public ownership, the sale of goods on credit becomes one of the methods of attaining the goal of socialist production, i.e., the constant improvement of the well-being of the working people.