INTEREST CHARGES.

Auckland Star, Volume LXVII, Issue 124, 27 May 1936, Page 6

INTEREST CHARGES.

"Another Barrister," in his argument with "Barrister," stated that there are hundreds of people who have never paid a farthing in interest, or words to that effect. While not wishing to intrude in this argument, I am surprised that "Barrister" has let such a ridiculous statement go unchallenged. The youngest child in the community who has bought a ha'porth of lollies has paid interest. If "Another Barrister's" grip of his subject is no better than his understanding of the evil effects of this toleration of the principle of interest, then his contributions to the public Press columns will be of little value. Humanity is now saddled with an unsupportable load of interest charges from the cradle upwards, and discharges its unending liability with every penny it spends. All rates and taxes are levied principally to pay the community's interest liabilities; in fact at least 75 per cent of all rates and taxes collected are so absorbed, to say nothing of the overhead interest charges added to the price of every article we purchase. The awakening of public opinion to the real effects of "interest'' payments upon the community is one of the most heartening signs in these depressing times. STANDARD VI.