INTEREST RATES.

Press, Volume LXVIII, Issue 20493, 11 March 1932, Page 16

INTEREST RATES.

TO THE EDITOR OP TUB TRESS. Sir, —In you'issue, of-.the Bth inst. a letter appears over the nom de plume of "Bondholder" on the above subject, and he is to be congratulated on his moderation and thanked by ' the sane people of this country for the sentiments expressed. ' : Chambers of Commerce at times propound extraordinary doctrines, and to advocate reducing interests externally or internally indicates the class of business financiers that get elected to such positions, lor they'must be ignorant of> the trua position 'about which they talk, or talk only for the gallery. It appears to me they have no conception of what a contract means, and if the sanctity of sueh is annulled in even one instauce by powers other than the contracting parties no longer can business be carried on under. its present regime; and., without' business our world can have no progress. The question of ; interest or borrowing is not a Government matter unless the interest is actually what 1 we term usury, and even then it surely is a matter for the concerned, parties t° arrange personally or agree to arbitrate over. We have too much Government in. business and really no business in Government. For years the policy has been borrow and spend, and now the old wise bird , has come home but can find .no place to rest.—Yours, etc., VERITAS. March Btli, 1932.