INTEREST RATE

Wanganui Chronicle, Volume 79, Issue 66, 18 March 1936, Page 7

INTEREST RATE

: COMPULSORY REDUCTION I ALBERTA LEGISLATION EDMONTON, March 16. I j Mr. Aberhart announces that legisla I tion io cal] in all Alberta bonds and | [replace them with a new issue bearing i :*> per cent, or less, will be introduced in the Legislature within ten days or less, ns a compulsory conversion r.f ]G0.060,0D0 dollars of provincial debt to save 7000 dollars daily in interest. He is planning legislation to compel reduction of high home mortgage interest rates. He slates that he hi' waited since December for some word from the bondholders regarding interest reduction, but has had no response, so he must go ahead with the compulsory measures. The new proposed Alltorta busines code plans to unite all retailers in an organisation to protect industry I’rom the. alleged abuses, ns lawyers and doctors protect their > professions, maximum ami minimum prices will In* set for all produids and strict legislation is promised against misleading advertising and unethical practices. AVhen a commodity is soi'l at a price which is considered too higa or too low the newly established trade department will investigate the matter.