THE MORTGAGE BILL

Ashburton Guardian, Volume 55, Issue 129, 13 March 1935, Page 6

THE MORTGAGE BILL

EFFECT IN ASHBURTON. COUNTY IN SOUND POSITION. STATE INTERFERENCE CRITICISED. Business men in Ashburton were reluctant to-day to comment on tha Rural Mortgagors Final Adjustment Bill, introduced in the House of Representatives on Tuesday. One stated definitely, however, that in his opinion there was no need for interference by the Government with farmers in the Ashburton County. "We are quite capable of working out our own problems," he said. "This County is absolutely sound and a rehabilitation scheme is not needed."

The purpose of the Bill is to enable such adjustments to be made in the liabilities of farmer mortgagors, now under the protection of the Mortgagors and Tenants Relief Act of 1933, as°will make it possible for them to continue in occupation of their farms as efficient producers. It is specifically provided in the measure for the establishment of a Court of Review of Mortgagors' liabilities, to consist of three members, and to assist generally in the administration of the proposed Act. The court is to act as a place of appeal from the decision of the Mortgagors' Adjustment Commissions. Provision is made for "stay orders" for farmers, for budgetary control and, in some cases, for farming supervision. Their Own Protectors. The view that good farmers were protected automatically by their own arrangements with the mortgagees, was advanced by the speaker. The, general cry, he said, was to get prices back to "normality," which term might be made to apply to the average of ruling prices between 1904 and 1914. A close study of to-day's prices would show that they were practically "normal"— actually they were slightly in excess of the 1904-1914 period. "If there was no relief court or Government restrictions, there would be no trouble facing the really hardworking and careful farmer. In a great many cases it seems apparent that the Government is giving more consideration to the individual than to the Dominion as a whole." Of the approximately 1300 farmers in the Ashburton County 70 per cent. were "free," not taking into account the soldier settlers, and it would thus be seen that agriculturally, at least, the County's position was sound. Benefit to North Island. Another well-known business man stated that the Bill would no doubt be of considerable benefit to dairy farmers in the North Island, but there would also bo certain farmers in Ashburton district who would be assisted by its provisions.