654 ADDRESSES AND STATE PAPERS

A. I indicated last year that I felt that there was a possibility that
the present interest rate was not realistic and that I would support it
(an increase) if the need were shown and if the need were coupled
with safeguards to avoid these lefthanded devices such as points and
special charges that really raise the interest rate way over what it is.
In short, whatever increase is indicated in the interest rate would
have to be that amount and that amount alone with no possibility
of sticking the consumer with little hidden charges that would raise
it above what it is.

Q. Then you would not support the Legislative Council bill be-
cause it contains all these lefthanded charges?

A. I haven't seen it, and if it contains lefthanded charges and sub-
terfuges I won't support it.

Q. This bill is sponsored by Senator Steffey (interruption)....

A. I haven't seen it yet but I am not sympathetic to that kind of
add on.

Q. In other words you'd be just as happy to see everything delayed
until next year?

A. That is exactly right!

Q. Governor, Senator Steffey and others make the point that the 6
percent mortgage rate is one of the principal things that is stalling
the home-building industry and that's having a direct impact on the
sales tax.

A. I think that may be a valid observation, and I am not saying that
we should stick on 6 percent — I am saying that whatever we decide
is necessary to make Maryland competitive in the kind of economy
we live in should be our interest rate. I am also saying that if it is
7 percent or whatever it is — that should be it. There shouldn't be
a lot of little extra gimmicks to trick the consumer into thinking that
he is paying one rate where he is actually paying some other rate.

Draft Rockefeller Movement

Q. Have you talked to Governor Rockefeller since you announced
the Draft Rockefeller movement in Maryland?

A. Yes I have.
Q. Last Monday?

A. No, I talked to Governor Rockefeller Saturday night in Wash-
ington at the Alfalfa Club.

Q. Did you talk to him in New York last Monday?