23 JULY 1932, Page 21

i :•,•• . Serving the National Interests I THINK that

anyone who has followed my arguments thus far will see that ,any charge Of bankers' profiteering, based on the present 'apparent 'disparity between deposit rates and the charge for loans, fails by reason of its crudity, to say nothing of the spirit in which the attack seems to have been conducted. The charge is crude because it takes the isolated circumstances of a few weeks as though they governed the whole year's transactions ; while it also, in my 'judgement, leaves out of recognition altogether those -general conditinns affecting the conduct. of bankers' business whieh="r- hake endeavoured to describe.