INTEREST RATES
TO TUB EDITOR 0* TH£ PBRSS. Sir, —At last my faith lias been vindicated, and Mr Machin Jias found (to quote the heading of his recent address) "The way out of the slump." [ um particularly interested in his remarks concerning the "inequality of the financial strain among different sections of the community." Presumably he is hitting- at high salaries, and will endorse the opinion of Mr Forbes that reduction must take place if we are to avoid bankruptcy. Also his suggestion that "the interest-earning classes accept a reduction in interest rates." should bear fruit after his efforts to reduce the interest of the New Zealand Farmers' Co-operative debeuture-holdcrs to 4J per cent. In the meanwhile it is pleasing to note that Mr'Machin fully realises the drastic plight of the primary producer. Realising as he does that debentures are exorbitant at 6J per cent., he muist agree that the farming community cannot possibly carry on much longer at 8 per cent. —Yours, etc., GEORGE A. BRUCE. Island Hill, March 9th, 1932.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/CHP19320310.2.36.5
Bibliographic details
Ngā taipitopito pukapuka
Press, Volume LXVIII, Issue 20492, 10 March 1932, Page 7
Word count
Tapeke kupu
172INTEREST RATES Press, Volume LXVIII, Issue 20492, 10 March 1932, Page 7
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
Ngā mihi
This newspaper was digitised in partnership with Christchurch City Libraries.