THE FINANCIAL LOOK-OUT.
TO TOE EDITOR OF"tHE PRESS." Sir, —Whilo it is no doubt wiiso to act cautiously in view of the alleged prospective scarcity of money, it is gratifying to note the hopeful and optimistic tone adopted by tho local newspapers and our Chief .inspector of Labour in this _ respect. The scare only needs starting, and, like an epidemic, will spread and grow and at onoa be adopted by the uninitiated as a fact. No doubt to many, especially money-lenders, it is advantageous to encourage this Bogie, as ..it will naturally conduce to high rates of interest. Most business men, however, can sco that with the proceeds of a bounteous harvest, and more settled conditions in political matters, therp will be plenty of money availablo very shortly, for the most pessimistic of mortgage runners and others. Judging from the newspaper adyertisementsji I notice tens of thousands of pounds advertised to lend at lowest current rates of so that ono would come to tho conclusion that there arc still a few pounds available in tho colony. The assertion that tho purchase of motor-cars has added to the alleged stringency, is childish, and will not hold water. It is, on the contrary, a sign of general prosperity, and in most cases whero cars have been adopted by tho farming community, means, in addition, to being a source of pleasure and luxury, a great saving both of time and labour, and will soon repay tho outlay. Whilst probably, there is some little difficulty experienced in raising largo amounts on mort-. gage, smaller sums of, say, ono thousand to two thousand pounds, arc more readily obtainable, and as the average prico of a motor-car is. say, only about £400. and a man usually only buys ono at a time, it is difficult to understand ho\v these small amounts can affect tho position, as a loan on mortgage is not usually pooled. If tho money-lending community imagine that the motor-car should not he indulged in in order that tho capital so expended might be used for mortgages, and to supply procuration fees, tho sooner they disabuse their minds of this,' the better. People are entitled to please themselves, whether they lmy a motor-car or a mortgage, and if one wishes to build himself a, new house or lmy a new property, and cannot find or raise tho money, ho must be liko mc, who cannot afford a motor-car—-go without. —Yours, etc., TCO-TOOT.
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Press, Volume LXVIII, Issue 14314, 27 March 1912, Page 10
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408THE FINANCIAL LOOK-OUT. Press, Volume LXVIII, Issue 14314, 27 March 1912, Page 10
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