Farmers To Study Rural Bank Plan
(New Zealand Press Association) WELLINGTON, July 28. Federated Farmers’ Dominion Council is to be asked to study the establishment of a rural bank.
The council will also investigate the economic position of farming, its productive ability, and its relation to the national economy. It will also review the advisability of extending the rural lending operations of the State Advances Corporation and a suggestion that a rural division be set within the corporation, separate from the Housing Division and under independent management. At the final session of the
federation’s conference today, the senior vice-president (Mr A. C. Begg) expressed some doubt about the concept of a rural bank. He asked delegates to remember that of all sectors of the community, farmers paid the lowest rate of interest to trading banks. Several delegates said, however, that farmers desperately : needed money and would be helped if a rural source of finance were established in competition with existing institutions.
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Bibliographic details
Press, Volume CVI, Issue 31124, 29 July 1966, Page 1
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161Farmers To Study Rural Bank Plan Press, Volume CVI, Issue 31124, 29 July 1966, Page 1
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