INTEREST CHARGES
BOROUGH DiSCUSSiOH DECISION TO SUPPORT REPRESENTATIONS FOR REDUCTION PICKPOCKETS OF FUTURE When a letter was received from the Kaiapoi Borough Council urging that the Minister of Finance be requested to bring do/vn legislation introducing the compulsory rediletion of bank rate Of interest members of the Rotorua Borough Council Iasit night expressed sympathy with the proposal. Cr, W. H. Wackrow pointed out that there was a time when 'every man, woman and child had to come to the rescue of the Bank of New Zealand and the bank should give its help to the country now. ' : Cr. Johnson : The banks shdiild not only be asked to come to the help of the country ; they should be compelled to do so. Not the Only Robbers i The Mayor asked Why confine the request to the banks; they were not the only robbers. Why~not also make representations for a comprehensive reduction in interest rates. "The country wottld not get faf in ecoiiomic adjustment without. Cr. A. Smith: I quite agree. The Mayor: In 20 years' time the man w;ho collects interest will he regarded tas something like a pickpocket. The proposal from Kaiapoi was endorsed. ..... ..
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 406, 15 December 1932, Page 5
Word Count
194INTEREST CHARGES Rotorua Morning Post, Volume 2, Issue 406, 15 December 1932, Page 5
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