REDUCTION OF INTEREST

Poverty Bay Herald, Volume LV, Issue 17606, 23 October 1931, Page 9

REDUCTION OF INTEREST

COMPULSION OPPOSED (Per 1 Press Association.) : WELLINGTON this day. The Associated Chambers of Commerce to-day adopted % resolution noting with that it‘was hot the intention of the 'GbverhhSent 'to ifitroduce legislation cdifiphlsorily rfedh'cing 'the rate of mortgage Merest ; ' The Conference teas of the opinion that a vfjhnrta'fy ’reduction in interest rates, y IfbV&lHte'Thfe 'farming commtimty, tvas fast becoming general, and regret was expressed that the Government lending departments had not met the exigencies of the situation in the same generous Manner as had been done by private lenders. The 'motion was* substituted for a remit adopted yesterday, and is to be forwarded immediately to the Preihief. , il motion which came up as an amendment was carried expressing appreciation of the able and successful work of the Empire Marketing Board in advertising in 'Great Britain the merits of New Zealand -produce, particularly blitter, and re- , questing the Government to convey appreciation to the board. ‘'•Recommendations were submitted t>y the committee sethip to frame a suitable resolution on the question of unemployment, and carried without discussion.