Great have been the grumblings against the high prices of R. F. C. relief. For money that cost R. F. C. 31rc from the Treasury, banks have had to pay 52%, railroads 6%, regional agricultural credit corporations 7% (inclusive of inspection and appraisal costs). Last week the R. F. C. board decreed a horizontal cut of 5% on all interest rates on new or outstanding loans after Jan. 1. Estimated saving for borrowers: $6,000,000 per year.
The reduction did not apply to the 3% rate now charged states for loans for jobless relief. Likewise the interest charge on self-liquidating projects,...
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