BRITAIN’S DEBT.
THE ABOLITION OF INTEREST. By Telegraph.—Press Assn.—Copyright Received Oct. 18, 5.5 p.m. London, Oct. 17. Mr. John Hill, secretary to the Boilermakers’ Society, in his monthly report, makes an amazing suggestion for the abolition of interest on the national debt as a remedy for unemployment. He says that interest costs more than double the total national income in prewar times. A short Act abolishing all interest on national loans could be passed and the capital paid back slowly and surely as ■ trade improved. This would be a am all sacrifice for rich men, while capital could be returned immediately to smaD investors who were entirely dependent upon their savings. Such an Act would set an example for the world jo follow, and would raise the purchasing power of the country, so that the home market alone could set industries going.—Auis.-N-Z. Cable Assn.
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Taranaki Daily News, 19 October 1921, Page 5
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144BRITAIN’S DEBT. Taranaki Daily News, 19 October 1921, Page 5
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