Reborrowing or repayment
Sir,—Comments by the Christchurch Drainage Board’s finance committee chairman, Mr R. F. Wilton, reported in “The Press” on Thursday, suggest the immorality of much modern business and economics. It is thought better to reinvest than to repay, even when 14 per cent interest is being paid on borrowed money. By some somersault of logic it seems a better recommendation for future borrowing if the Drainage Board remains reluctant to pay off its loans. Will the board please consider who gave it this money in the first place? — Yours, etc.,
R. J. VAUGHAN. February 23, 1984.
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Press, 27 February 1984, Page 20
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98Reborrowing or repayment Press, 27 February 1984, Page 20
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