BANKRUPT FARMERS

Auckland Star, Volume LIV, Issue 73, 26 March 1923, Page 8

BANKRUPT FARMERS

AN UNENVIABLE RECORD. REFORM TARTY CONDEMNED. ißy Telesrnpli.—'Special to "Star.'"l TAURANGA, this day. Letters, telegrams, and cables continue to reach Sir Joseph Ward, expressing the earnest hope that he will be elected. The following is from one of the most influential farmers in the Dominion: — "I am very pleased to see that you are contesting the Tauranga seat. I hoped you would do so, as, looking at it from a farmer's point of view, Mr. Massey and his party have failed the farmers badly. I counted up the bankruptcy notices in a recent [Saturday's issue of the "Herald," and there were no less than twenty-one. nineteen of which were farmers. This sort of thing has been going on more or less for the past twelve months, while the Government stood by callously. Land has deteriorated, and farmers are being ruined for the want of capital, as moneyed institutions are giving farmers" the cold shoulder. In the meantime the Government makes a virtue of borrowing a million, while something like ten or twelve millons are wanted to ease the situation. I cannot help remembering a similar state of things in the 'nineties,' when you started the advances to settlers scheme. Farmers were paying 9 and 10 per cent and over for money, and the money lenders were having the time of their lives, but as soon as ever the said scheme was started down came the rates of interest to 5j and 0} per cent. And I have no doubt that history would repeat itself to-day if we had a party in power with larger vision and a little more sympathy with the struggling primary producer."