VESTED INTERESTS

Press, Volume LXXIV, Issue 22512, 21 September 1938, Page 6

VESTED INTERESTS

to tub editor or tax prims. ' Sir, —Your correspondent, "R.R.M.," discussing vested interests, makes quite a lot of the self-denials of his parents and their family, and one would be scarcely human if credit were not given where credit was due because self-sacrifices are always noble things. However, may I ba allowed to point out another aspect of the case. When an individual denies himself or his family to the extent that he wishes to save money to invest in some project or other, even though the project may be life assurance, he does so for one reason. He is generally not interested how his money is invested as long as he receives interest on his investment, and if the suggestion be made that interest is not available, i he promptly refuses to invest. Therefore, in the words of "R.R.M.," "one merely grasps what one has never earned" because the individual receives more than he invested in the first place. Use this reasoning collectively, and the term "vested interests" is arrived at. Now it is obvious that the "vested interest" is not philanthropic; therefore in many instances the happiness of individuals is sacrificed so that dividends can be paid. Now take two extreme cases: one, when the individual earns £IOOO a year, and, two, when his earnings are £2OO. In the first case, if the money is completely spent in, one year, no sacrifices are made, arid the spender; 5s a most useful character. If a por- i tion is spent and the remainder i banked or invested, this remainder is used or utilised until the individual] requires it. This may. look fair enough on the surface if only the balance were repaid when required; but there is an extra amount required for which the investor has done nothing, and the "vested interest" takes its toll somewhere with a total disregard of human happiness or even life. Possibly "R.R.M.," at some time or other has suffered from the indirect action of some other investor. Examining the second' case, it is obvious that there will be nothing left to lay past or invest, so that the in-

dividual concerned may save himself] from "charity" or "shame." This| second individual is a creation of the collective individuals called 'vested interest," who say they will not invest unless they receive something for nothing. Now, may I ask who does the greatest "grasping" and ' snatchIn conclusion, may I state that until man voluntarily spends all his money, or if he cannot spend it all, invests it at zero interest—until then all governments must compel each man to be his brother's keeper, whether he likes it or not. There is no shame in giving to our unfortunate brother who is a victim of a vicious system of "vested interests."—Yours, etc., „_. A STUDENT OF TRUTH. Timaru, September 17, 1938.