RATES OF INTEREST.
Sir.—l understand there is asrnovo by /the Government to reduce rates of interest by g pei cent, on mortgages, etc. It seems to me that a genera] reduction would not be fair, as a number of old settlers borrowed money a good number, of years ago, when land was cheaper, at 4 and 5 per cent. The later settlers had to pay 6 and 6£ per cent, interest, besides paying a higher price for the land. It would bo fairer to reduce the rate by say 1 per cent, interest to the ones that are paying the higher rates, because those are the people who arc requiring help. I hope the Government will not overlook | the above facts. One Interested.
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New Zealand Herald, Volume LXVIII, Issue 20923, 13 July 1931, Page 13
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123RATES OF INTEREST. New Zealand Herald, Volume LXVIII, Issue 20923, 13 July 1931, Page 13
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