FARMERS’ UNION

Dominion, Volume 24, Issue 188, 7 May 1931, Page 11

FARMERS’ UNION

Dominion Executive

Meets

WIDE RANGE OF TOPICS

Rural finance, unemployment, tariffs, foot-and-mouth disease, and numerous other matters of interest dealt with at yesterday s meeting of the Dominion executive of the New Zealand Farmers’ Union. The Dominion president. Mr. W. J. Polson. M.P., presided. Replying to representations recently made by the union in respect to the increased bookkeeping charge imposed some time ago by the banks, the Prime Ministen Rt. Hon. G. W. Forbes, stated that the reason given for the increase was to offset the additional amount of note tax, which was increased from 3 per cent, to 4J per cent. It was understood that the banks did not propose to pass on the additional income tax imposed. Mr. Forbes agreed that the banks might well have refrained from increasing the charge for keeping clients accounts, especially at the present time. The matter was one for discussion between the banks and their clients. He suggested that the union take up the matter direct with the banks concerned. “We have already made representations to the banks,” remarked one dele-, S&tC Duty on Lubricating Oils.

The Prime Minister wrote stating that the question of the duty payable on lubricating oils would receive careful consideration when the Customs tariff was next being revised. So far as the duty payable on spare parts of tractors was concerned, the duty had been removed altogether under the British .preferential tariff, while the duty under ’ the general tariff had been increased only by .25 per cent., which was equivalent to threefifths of a penny for every £1 of the dutiable value of the goods.

Post Office Savings Bank.

"To do as is suggested and provide for the Post Office Savings Bank to accept unit ilted accounts would practically mean turning the savings bank Into a commercial bank, which would entail a radical alteration In the forms of investment of the funds of the bank,” wrote the'Prime Minister, in a further reply to representations by the union. “Short term commercial deposits cannot safely be Invested in long term investments, and this class of deposit would be of little use to the Government. Accordingly the Government cannot agree to Increase the present maximum amount of £2OOO on which Interest la allowed by the Post Office Savings Bank.”

Rural Intermediate Debentures.

“That letter is a plain indication that what we have been saying all along la correct," said the president, in reference to a letter.from the Prime Minister in reply to a suggestion by the union that there should be an issue of debentures of lower denominations than at present by the Rural Intermediate Credit Board. Mr. Forbes said debentures issued by the board were at present available in two currencies, namely, »ne year and five years, the denominations ranging as follow: £lOO, £250, £5OO, and £lOOO. Insofar as the local market was concerned only a certain amount of investment capital was available, and it was .considered that the provision of an additional class of debentures for issue by the board would not enhance to any extent the proceeds of sales of this form of security. Furthermore, as an avenue of investment for smaller sums, post office Investment certificates of £1 and £lO were available to the public, the proceeds thereof being allocated to general developmental purposes. In view of the foregoing and the fact that the issue, by the board, of debentures of lower denominations would conflict with the securities referred to, consent to the suggested issue, was withheld, the decision being now fully concurred in by hltnself.

Motor Taxation.

Advice was received from the Commissioner of Transport that the Transport Department was at present carrying out an Investigation Into the whole subject of the Incidence of motor taxation. Representations mads urging the abolition of heavy traffic licenses on farmers’ lorries conveying milk from farm to factory would receive consideration in connection with the inquiry.

Stock Auction*.

Tlio steps taken by a number of stock and station agents to form a company to undertake the auctioning' of stock between Talhapo and Wellington Instead of having a number of companies carrying out the same work, were outlined by Mr. W. 8. Bennett, superintendent of Dalgety and Co., Ltd. He said that for many years past the farming community had complained about the commission charges for the sale of stock. The company would not take all the benefit and there would be a reduction in commission. What the exact reduction would be be could not say at the present juncture. The farmers would benefit equally with the companies. Commission would be reduced from the start. The change might mean a certain amount of hardship on some of the employees, but tho companies equid be relied ‘upon to treat them quite liberally. Third Party Rifik. In connection with a Southland remit dealing with the third party risk, the executive, was more or less agreed after the position bad boon explained to them by the mover that the premium was far too much for the cover that was received. It was felt that some ainendmenv should be made to tlie regulation. The question will come up again at a future meeting, when more information is re hand. Miscellaneous Remits.

Other remits were carried as fo'low: “That the attention of the Dominion executive be drawn to the large range of artificial silk goods admitted duty-free and that they be asked to urge upon the Minister of Customs and the Government that necessary steps be taken to lower the duty on woollen goods of British rnanuf““That the Unemployment Board, In framinn Dolicv. be urged to provide a special subX to wable dairy farmers to retain their seasonal employees during winter "'“That the Unemployment Board be approached, with a view of formulating a scheme giving farmers the same fa< llitie. as local bodies under No. •> work done to be of a reproductive nature, nnd which otherwise would not have been '’"“That the Government give full backing to Rural Credit Bonds.” Throe remits and a motion, all of which urged reduction of interest rates, were also carried. A remit advocating that the Main ilighwav Board should take oyer I'm whole of the main highways with tiiir liabilities. Ilins relieving the local bodies, was lost. ________ I