MORTGAGOR AND MORTGAGEE.

Press, Volume LXVII, Issue 20381, 30 October 1931, Page 13

MORTGAGOR AND MORTGAGEE.

TO THE EDITOR Of THE PBE9S. Sir, —The tendency of modern legislation to interfere with private contracts has reached its culmination in the proposal that principal and interest payments to an unpaid vendor mav be cut to pieces by a stranger to the contract (a Magistrate or a Judge). It is indeed wonderful that the lessons of similar legislation have not been learned. The old Moratorium Act has frightened nearly all private investors and public (other than State) institutions from lending on farm or house property. The Rent .Restriction Actd have induced a complete cessation of building for letting. All legislation of this type has reacted against those. it was intended to assist, as well as. those it was directed against. What person in his senses would build a house to let with the prospect , that some irresponsible Government would later say to him, "This tenant of yours is a decent chap we have decided to let him have your house free for one week in four, and let him stay on for the duration of the depression and _er—-regarding that small spot of rent he owes —£50 was it? A\ell, you d better forget, it. It plight only annoy him to bring that matter up. Most ! people have felt wrath about Lang's repudiation policy. Why, is there no outcry against this proposed legislation, which smashes at the foundation of business integrity? Is not the whole scheme of life, both private and international, built on the sanctity of the written and spoken word 9 Yet vo must stand by and let a'vital matter like this pass tin-, heeded No Government has any right to pass a law so morally wrong m Pr Th6ro e 'are far greater questions ot' principle involved in this matter than m discussions, on the morality of lialfy crown art unions -Yours, etc., _ . v MORATOBIO. October 29th». 1931 a

THOMSON PARK. TO THE EDITOR OP THE PRESS. Sir,—"With reference to the Summit Road Trust's discussion, reported in your columns this morning, and to my attempt.to rescind a resolution adopted in September and suggesting that statements of mine in The Phess had been hurtful to Mr J. J.. Thomson, I have only to say that the attack on me in September was totally unfair and the resolution also. After the meeting on September Ist I addressed a letter to Mr W. Stewart, Commissioner of Crown Lands, pointing out that there was not one word in my published statements or letters to which Mr Thomson could take exception, or that justified the passing of the resolution. In reply to the suggestion that I could say, or wish to say, anything offensive to Mr Thomson, I should like to enclose an address, which I wrote and which is to be presented to Mr Thomson, signed by the members of the Trust.—Yours, etc., H. G. ELL. October -,29 th, 1931. [The teJt of the enclosure is as follows: Your generous and thoughtful gift of the Svholo of the north-west slope* of Sugar Loaf Hill makes a splendid addition to this scenic reserve, toward the purpose of which -you gave so handsomely. Your public-spirited •act will endear your memory to the people of Ohrlbtchurch and North Canterbury among whoaj you have lived since your boyhood days. A son of one of the pioneers, you hiwe lived lip to the fine ideals which were over their guide in the founding of Christchurch and Canterbury. They looked on all their works—as you have done—beyond the measure of their own lives. Your splendid gift to the generations coming after you will surely keep your name green in the memory of the people as they walk this beautiful Summit road scenic reserve, the existence of which is due to your generous and thoughtful gift, and your hope and wish that this hillside land shall be made more beautiful by the growth of the ' trees and shrubs of the natjve bush of this country will not be forgotten. We have the great honour of setting our names to this small appreciation of a splendid act of citizenship.]