PRE-CALL RATE MONEY

Evening Post, Volume CII, Issue 5, 6 July 1921, Page 4

PRE-CALL RATE MONEY

The Mayor's suggestion that ratepayers, subject to their convenience, should pay their, rates, or. a proportion thereof, in advance, is described by. himself as unprecedented. While Parliament last session created one precedent (call money that cannot be called) the Mayor invites another in the shape of rates called (as a matter of gi'ace) before their time, the inducement to the ratepayer being social service. As it does not seem to be practicable to offer any other inducement — unless his Worship were to strike a medal as a reward for early payment, and that is not very practicable either—apparently the Mayor's appeal must be allowed to proceed on that basis, and we hope that it will reach ratepayers who are both able and willing to respond. The more of such ratepayers, the bettei. But we hope that the note of need sounded by the Mayor will not give rise to the drawing of alarming inferences, which are already too abundant. ■ It ia sometimes not easy to become an adviser of caution without being regarded as an alarmist; considering the different impressions to which different minds are liable in the same circumstances, it is notsurprising if the boundary line between prudence and panic is worn thin. The Mayor's appeal is'in tune with the spirit of social service, but it should be regarded mainly as an interest-saving expedient. If ple understand the advisability of keeping down an ■ syerdraft on which the interest charge- is to be increased to 7 per cent., well and good. ' Any assumption that the issue is " cash or crash " would be morally hurtful as well as being quite unfounded.