ADJUSTMENT OF INTEREST
(To tho Editor.) Sir,—We hear so much of the cry, "Wages must come down," "Reduce wages, etc.," but nothing is said about reducing interest. Before talking about reducing wages, to my mind, the late of interest ought to be reduced, which would result in lower rents, which would help to lessen the cost of living. We acknowledge that the cost of living has come down in many instances, and is still coming down, but what hits the wage-earner chiefly is the high rate of interest he has to pay on his mortgages, if a house owner, and if a householder, high rent. Until this adjustment of interest has been made I fail to see the fairness of the talk about reducing wages. Very few property owners, I am sure, make anything out of the rents charged, when you take into consideration the increased rates, high interest, insurance, besides wear and tear, and in many cases damage to their property, all of these contingencies the man who rents escapes. I feel sure if the interest chargcd_ on mortgages was lower, it would result in a revival of the estate business, more buyers of property, and building of houses.— I am, etc., WAGE . EARNEK .
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19310216.2.51.1
Bibliographic details
Evening Post, Volume CXI, Issue 39, 16 February 1931, Page 8
Word Count
205ADJUSTMENT OF INTEREST Evening Post, Volume CXI, Issue 39, 16 February 1931, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in