BANKS AND INTEREST CHARGES.

Auckland Star, Volume XXV, Issue 43, 19 February 1894, Page 4

BANKS AND INTEREST CHARGES.

(To the Editor.)

S:ik, —Whatever differences of opinion may obtain as regards some of the actions of our present government, few will blame its activity in the direction of the Premier's utterances ab Foxton in connection with this subject. If our comparative well-off-ness is to bo a reason for our being pinched it is too bad. The Premier's reference to tho question might be well extended —for instance, I am an importer of goods from England; tor these goods I am drawn upon say, ab Bight here, and I am charged four per cent, exchange, or if at a longer date a scale advance on this, and if I pay cash against this latter I am returned as drawback at the rate of three per C£P!t*"pi?r<3!»u,up]. I am helping the bank to avoid having to more gold against its wool, gum, flax, mutton, etc., business and I am charged at a nite of from 1(5 to 20 per cent, per annum, and .pffereii a icehate oi.three J& may. ha fair and reasouable, but 1 am unable to sea it. I think also all Government loans should be quoted and aleo subacribable within the colony, and principal or (and) interest pay-' able either in the colony or England, and this might well apply to othor loans.— I am, etc., Q.