Interest-Free Loans.

Oral Answers to Questions — National Finance. – in the House of Commons on 24th February 1942.

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Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

asked the Chancellor of the Exchequer how much money he proposes to allocate during the present calendar year for the purpose of advertisements urging the public to lend their savings free of interest to the Government?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

The interest-free loans which I receive are spontaneously made in a spirit of patriotism, which I desire to maintain, and therefore I do not propose to take the course my hon. Friend suggests.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

Will the right hon. Gentleman say why he continues to prop up this outworn monetary system by issuing loans with interest—really usury—and would it not be wiser to encourage people to lend their money interest free as they will certainly have to do under the new order when the present monetary system is abandoned?