Overseas Borrowing
Sir, —ln spite of the dim view expressed by “P.J.A.,” the use of credit is a boon to the people of democratic countries. It stimulates free Enterprise. The worker can borrow money to buy a home or a farm. When due payments (including interest and sinking fund) are made the debt is cleared. The same applies to public bodies and the State. The result is evident in farm production. In Russia 55 per cent of the workers are on farms while in the United States not more than 5 per cent are needed. In addition, huge quantities of foodstuffs are distributed in backward countries.—Yours, etc., T. M. SHAW. Westport, August 31, 1966.
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Bibliographic details
Press, Volume CVI, Issue 31153, 1 September 1966, Page 14
Word Count
114Overseas Borrowing Press, Volume CVI, Issue 31153, 1 September 1966, Page 14
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