Democrats To Hit GOP On Loan Rate
House Democrats moved yesterday to make high inter est rates a campaign issue against Republicans next year.</br></br>At the request of Rep. Wright Patman (D-Tex.), who has built a 40-year House career on fighting bankers and high interest rates, the Democratic caucus voted unanimously to set up a committee to ÛÏstudy the critical problem of high interest ratesÛ and re~ port back by September.</br></br>Members will be appointed by the caucus chairman, Rep. Dan Rostenkowski (D-IU.), who said Patman will be a member and perhaps chairman.</br></br>With interest rates at their highest level in a century, Patman told the party meeting that ÛÏthe Nixon Administration has abdicated its role, and the hopes for low interest rates are dependent on the ac- ; tions of Democrats in the Con-! gross.Û	!</br></br>Patman said a united Demo-: c-ratie stand can push interest rates down. "If the Democrats make it plain that they want a rollback of interest rates and that they will not tolerate further increases, the commercial I banking industry will get the message quickly," said Patman.