Vagabond Editorials

(Continued from Page 6.)

years' time, so if you will sharpen your pencil you will discover that the bank gets about ten per cent interest on their money. Nevertheless, this does not alter the fact that what the borrower pays is still $5 per $100, and the rate does not appear unfair to him. He is willing. And now the banker willingness is showing up, and between the two and an active sales effort on the part of the building people, there is opportunity for something very, very helpful.

{( {< rF

Of course one of the leading New Dealers nearly upset the apple cart by coming back from England the other day and giving the newspapers an interview telling them how wonderfully the British Housing Act has succeeded in helping industry and putting men to work on a strictly FOUR PER CENT interest rate. That sure made some of the other boys at Washington sore. Well, it should ! What right has an honest New Dealer to come home and tell of successful doings in other lands? What we want in this country is not experience, but experiments.