EQUAL SACRIFICE POLICY.

Auckland Star, Volume LXII, Issue 214, 10 September 1931, Page 3

EQUAL SACRIFICE POLICY.

SHEEPOWNEES' ADDRESS,

CURRENCY QUESTION STRESSED,

All owners of capital, whatever the nature, must contribute their bit towards pulling the Dominion out of the difficulties that beset New Zealand at the present time, said Mr. H. D. Acland, president of the New Zealand Sheepowners' Federation, when replying to the toast of "The Province of Canterbury" at the annual dinner of the Canterbury Chamber of Commerce. "To my mind, the aim of all creditors at the present time should be to keep the farmer on his farm and the house owner in his house, and preserve, at all events for the time being, the semblance of legal ownership to those, whatever their financial position, who have endeavoured to acquire a home, for themselves, and I know that very large numbers of mortgagors are being very fairly met by tlieir mortgagees in this direction." Prices were such at the present time that it was becoming increasingly difficult to show a margin of profit to the grower, said Mr. Acland, and unless there was some improvement in price or a reduction in the cost of production, a great deal of the fattening country of the province must revert to grazing and to much larger areas to enable a man to j make a reasonable living. If that happened it would also mean a further displacement of labour, thus adding to the present difficulties. There had been a considerable fall in the values of all farm lands, and he felt that unless there was a rapid change there would be an even greater fall in the values of city properties. To his mind the most important thing was that the politicians, the towns and the counry as a whole had at .last realised the facts and awakened to the position of the primary producer. That was the beginning of an improvement. Up to the present there did not appear to have been much public attention given to the currency question, and to the extent that it was affecting not only New Zealand and Canterbury, but the whole world, added Mr. Acland. He urged the chamber to investigate that question. Many persons of distinction believed that it had much to do with the present economic position, and in view of the recent issue of the MacMillan report and the discussion recently at the Royal Empire Society in London, he felt that primary producers wanted to know "whether we and Canterbury are being crucified upon a cross of gold."