INTEREST AND RENT.

Press, Volume LXVII, Issue 20197, 27 March 1931, Page 19

INTEREST AND RENT.

TO- TBS BDITOB OF THB PEEBB , Sir,-—The discussion i reported in. today's Press reveals the danger of a moratorium for such this Mortgagors Relief Bill actually amounts to. The evils resulting from the application of the moratorium after the war are only too weil known. . A blow was struck at public molality. It was made legal to withhold money that is owing, There is now a ganger 'of the same, and that persons who can pay may shuffle out of so doing. Canterbury land, indeed, all New Zeialand land, is .top dear. First mortgages are in many' cases as much as the land will carry in bad seasons. Interest should be paid on these. Second even third, mortgages, are frequent Very many of these must go. The first mortgagee is now asked to bolster up the latfer. The man who is so deep, in that his agents cannot carry him on, is. in the interests of the country, better off thu land. Only by this tnenns can values be readjusted a sound basis, and costs reduced.—Yours, etc., RETIRED. March 26th, 1931.