The Economy

Press, Volume XCVII, Issue 28699, 24 September 1958, Page 16

The Economy

Sir,—"Repercussion’s” letter, as the nom de plume might suggest, has a familiar ring of sounding brass and tinkling cymbal. He evidently belongs to that category of person, gradually decreasing with the spread of education, who believes that landlords exist to victimise tenants and shareholders do nothing but sit back and watch the dividends rolling in. In his view, no doubt, omnipotent State, with funds extracted ad lib. from a cowed, defenceless and largely unimaginative community, is the only acceptable landlord; and that “unearned” income, save, perhaps, such providential sources as the T.A.8., and Art Union, is the hall-mark of the case-hard-ened profiteer. It is, of course, con-, venient to ignore the fact that, but for the participation of shareholders, at their own risk, in the promotion of companies, thousands of employees, even in the congenial climate of the Welfare State, might well be feeling the draught.—Yours, etc., DEREPERCUSSION. September 21, 1958.