Interest
Sir, —The Government should be saving the cost of interest by issuing its own needs from its Reserve Bank, which does not need to make a profit from interest. It could issue money at a small commission charge as low as i per cent, thereby saving the whole community a large part of its costs of interest. It could abolish the interest charge and challenge the power of the money-changers whom Christ turned out of the temple for having turned it into a den of thieves. Money came into use to promote the. free flow of the processes of production and consumption, but the moneychangers saw the opportunity of getting something for nothing through a national debt The interest system is now well entrenched behind the banking system which can always beat the private lender by controlling the flow of . money at its source. Without the interest charge, the economy can become self-liquidating and so avoid the violence of booms and slumps.—Yours, etc., W. B. BRAY. Leeston, August 3, 1971.
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Press, Volume CXI, Issue 32678, 6 August 1971, Page 8
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171Interest Press, Volume CXI, Issue 32678, 6 August 1971, Page 8
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