"UNJUST PROPOSAL"
INTEREST REDUCTION
A reply to the proposal to reduce interest by 20 per cent, was made by Mr. W r ... H. Field,. 'Coalition, candidate i'oi' 'Otaki/'Avheii'': speaking at Taita last evening.
1 "Our Labour friends want to reduce interest by 20 per cent.," he said.
Several voices: "Hear, hear."
; Mr. Field: "It sounds very humane, but it would bo unjust to make it general, in my practice as a solicitor I have had to invest a good deal of money, the savings of the poorer peoplo who live on the interest. In many case 3 the money has been lent to men •wealthier than the lenders. The result of a 20 per cent, reduction would mean that you would rob the poorer man. Many of .these mortgages have long terms, and things may improve, and the effect of .the proposal would be that you would be giving an advantage that was not deserved. From every point .of view it is a proposal that is unjust in its conception and should never havß.been made."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19311121.2.92.4
Bibliographic details
Evening Post, Volume CXII, Issue 124, 21 November 1931, Page 15
Word Count
175"UNJUST PROPOSAL" Evening Post, Volume CXII, Issue 124, 21 November 1931, Page 15
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