OCR Text |
Show Tremendous Savings In Interest All debt in the United States, private and governmental, is estimated es-timated to aggregate $159,800,-000,000 $159,800,-000,000 by the United States News. In 1930, the total debt of the nations was estimated at $160,-800,000,000 $160,-800,000,000 by the same newsmagazine. news-magazine. There is this difference, however, how-ever, between the situation in 1930 and that in 1940. Interest rates, over the United States, applicable ap-plicable to all debts, are from two or three per cent lower that ihey were in 1930. Assuming, that interest rates' have been reduced only two per, cent, the annual saving to borrowers in the United States amounts to more than $3,000,000,-000 $3,000,000,-000 a year. There can be no saving for one group of our population without a consequent loss to another group. Therefore, if borrowers saved more than $3,000,000,000 a yearin intejaisfewluB ' inat mucn less than they would like to collect col-lect and did collect in years gone by. . - |