CHEAP MONEY.

Lyttelton Times, Volume LXII, Issue 7411, 29 November 1884, Page 3

CHEAP MONEY.

TO Til 8 *I»tTO«. 8m, —Perhaps of all the great questions recently brought prominently before the public, that concerning the reduction of interest on mortgages and the general cheapness of l*>m>wed money is the most Smjiortant. Your columns hare hardly for tho last few months been without some allusion to the reasonable scheme of which Mr Newlyn is the author. That the plan he proposes is a feasible one no one who has read his pamphlet can doubt j I only wish that everyone would get It and see for themsfdres i it can be purchased for fid. Town and country would alike bo benefited by tho change, and the originator's estimate of the saving the Colony would make is a certain one. The cheapness of money obtained from outside sources means, as has been clearly demonstrated by Mr Newlyn in his pamphlet, more business for the merchant, manufacturer, tradesman and farmer. This fact is becoming daily more clear to all, and I believe that nine out of every tea ratepayers of Christchurch are in favour of the general adoption of Mr Newlyn’s suggestions. I had tho pleasure of being a fellow traveller with Mr Newlyn some twelve months ago, and though unacquainted with him, even by name, I guessed from the clearness of his arguments in favour of cheap money that he wan the originator of the scheme, which surmise subsequently proved correct. 1 am fully convinced in my own mind that, were the name of some well-known and able financier {such, say, as Sir Julius Vogel) coupled with this scheme, its merits would soon cause its general adoption by the people of New Zealand. It is, I understand, intended to invite Mr Newlyn to address a meeting in Christchurch shortly. Should he do so, t trust that all who are desirous of retaining in our midst a portion of the money that is now annually sent sway will unite in making the meeting a success.

By inserting the above in your valuable paper you will greatly oblige.—l am, Ac., HENRY TOOMER, Scnr.