ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Vorster Changes His Tune

act of faith with the trade who are capable of vindicating that faith by circumventing and surviving the squeeze. A squeeze on bank credit pushes up the demand for accommodation from the indigenous bankers, shroffs, and multanis, and pushes up the use of grey and black money. And though this, in turn, pushes up the usurious rate of inter- rest to 24 per cent annum, nobody- minds paying it. After all, after a period of six weeks or so, the busy season will have ended, and with it the credit squeeze; accounts will then be adjusted and black money withdrawn with nobody the wiser. So the trade

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