INTEREST RATES.

Auckland Star, Volume LXIII, Issue 290, 7 December 1932, Page 6

INTEREST RATES.

I endorse "Fed tip's" letter in Saturday's issue. Also I am at a complete loss to see ! what the Government expects to gain in the long run by persisting in its. policy of continuing to spoon feed and bofcter up a minority portion ofi farmers who are hopeleesly in debt. By putting off the inevitable day of reclaming the Government is merely helping to maintain boom-time values and prolonging the depression. When a business firm finds that it is unable to carry on, by reason of its liabilities, it is forced to wind up. Therefore, why should farmers be singled out for special privileges at the expense of the rest of the community? Perhaps farmers do not know that many business people in the cities have lost all that they ever possessed; but they do not complain about it and expect the Government to do the impossible for them. Aβ most of the country's present difficulties can be traced back to Government interference in the first place, there is little hope of it getting out of the mire until the Government learns to mind its own business, and realise! that a return to prosperity cannot be brought about by legislative interference. Then, and then only, will the natural laws of supply and demand be allowed to reassert themselves, and confidence gradually return. But I am afraid that much water will have to flow under the bridge before investors can again be induced to look upon broad acres as the popular security that it once was. However, we can only wait and sec. what will happen when the Government comes to the end of its tether. W.C.P.