Edition Bobbett1. Texts by Elizabeth F. Bobbett: 1.1.3. Correspondence, Letters to newspapers
1970 Elizabeth Bobbett: Letter to the Irish Farmer’s Journal, 20.06.1970
The Bank Strike
Dear Sir. Call it a Bank Strike or a Shut Out, it is a matter between the bankers and the Irish Bank Officials Association. But for the general public, they are the people to suffer most, directly or indirectly, for the following reasons: Many businesses and County Councils and Urban Councils and private persons run overdrafts. The banks shut their doors and people could not lodge money to bring down their overdrafts. At 9% interest this means a huge increase on overdrafts and it will be most unjust for the banks to charge interest from the time they closed the doors till they open them again for usual business.
In Dublin city and some counties, people pay their rates monthly, and that fact was the means of keeping down the interest on overdrafts. The banks have the monopoly of the credit for the country, they have the power under the bank charter Acts “to create credit out of nothing and charge interest thereon”. It is most unjust for them to charge interest under present conditions.
Elizabeth F. Bobbett, Springfield, Kilbride, Wicklow.