INTEREST RATES.

Press, Volume LXVII, Issue 20328, 29 August 1931, Page 9

INTEREST RATES.

A 10, TBS xbITOB OF TILE PRESS. , fsply to my critics on the, Whbjcct, perhaps they could bet•'■Uratand the position if I put ' JBraaititious case. j SHpntraeted, say. with one of them , ■fa to give him' a mortgage upon j Bffffiparty for three years at 6} per -Hj&iK exchange for his £2OOO cash. I Uw'numption on both sides at the ■Btjnn that money value would reUnaltered. In 1932 money has - flMtted, say, 300 per cent, above consequently goods and Bn, vatues have depreciated 3UO Bmit In 1932, in iictual effect, i ying 19* per cent, interest. ■sjltig'agee declines to grant me JjMi-'tnd gays I must abide by my deed. Legally, he can take Bjfi but I certainly contend ■(aßut* equitable or moral. The prin■yil the same, whether the rise in ■j*M» 300 per cent, or 100. per Hfa Meal remedy for a readjust<E the interest position would be .one of voluntary comproBut this is hopeless to expect in ■Wfflso, and legislation must be re-' n&blaUy mv views are confirmed ■jWand gheepowners' and FarmIhK fweration, published in yester■PXrtos, lam quite content to that they coincide with the WW of a gentleman of the status jK«te to*" 13 c ' allu * Hr'', '' EQUITY. ■tetSSih, 1931. ■ torro* of THi tress ■J'rPenuitjne of your clemency to ■J|V words to my previous letter misunderstood. I think the Mj?"* °f interest rates desirable, >*® an advocate of harshness ■EhSt ' am objecting to is Hjt? of borrowers to "scrap" ■TjMgaiip when in their own interto do so. The lowering r^ e3 ' even the remisBwirf • { sometimes of part SP&Jrii 1 BUln P w ing may evenWfefi# V neces ? ar y- A wise mortHb*i 18 ow n interests, leave alone twfel mortgagor) will not crush unnecessarily oppres■ul: concessions must come Htijr "J mutual consent ana O.f right, nor on deH(fi| { ® 0 A willingness ■CJkv "tighten the Telt" n ? even le point 9V&*)i fj?* 6 . evidences of character ■1 covet.—Yours, etc., ■ l FIDES '