MORATORIUM PROBLEMS.

Auckland Star, Volume LV, Issue 171, 21 July 1924, Page 5

MORATORIUM PROBLEMS.

THE FINAL EXTENSION. APPEALS TO SUPREME COURT. ' (By Telegraph.—Press Association.) WELLINGTON, this day. Replying to a Dairy Farmers' Union deputation, the Prime Minister referred to the moratorium, which was a difficult question. The moratorium had been brought into operation to safeguard the interests of those having mortgages. He wanted to see it go as soon as possible, because the moratorium had had a bad effect on the money market, discouraging loans on broad acres. Much had been done by departmental officers to assist in arrangements between mortgagors and mortgagees, and Mr. Masser thought the provision proposed in the Mortgages Final Extension Bill could be bettered, whereby the mortgagor would have the right to appeal to a. judge of the Supreme Court in chambers, and if he could show he had a chance of carrying on it would for the judge to see that he got that chance. The appeal need not cost a man anything The Premier also stated that he considered no agricultural bank could do for farmers what the State Advances Department was doing. It was at present lending about thrers millions per annum, and could keep that going indefinitely, though he was unable to say whether it would be able to keep the interest rate down to 41 per cent.