AGRICULTURAL BANKS

Evening Post, Volume CX, Issue 51, 28 August 1925, Page 5

AGRICULTURAL BANKS

MR. W. J. POLSON'S MISSION PRESENTATION FROM PRODUCERS. There was a cordial gathering of producers and friends at the Dominion Farmers' Institute yesterday afternoon, the occasion being the farewell of Mr. W. J. Poison, president of the Farmers' Union, who is shortly leaving on a tour of America and other countries to study the question of agricultural banks. Mr. W. B. Matheson, the acting-president of. the union, presided. Letters of congratu- j lation and apology for non-attendance were received from all over the Dominion. , The chairman said that, thouj?h they had had short notice of Mr. Poleon's trip, they wished to make l.im a suitable presentation in acknowledgment of the work he had done, and they hoped that both he and Mrs. Poison would enjoy their voyage. The reason for the trip ■was a very sound one, and they hoped that on his return he would come backed by such potent arguments that legislation establishing agricultural banks in New Zealand would, be passed. He handed Mr. Poison a handsomely mounted wallet and fountain psn, and an attache case for Mrs. Poison. EULOGISTIC ENCOURAGEMENT. ' Mr. J. Bitchener, M.P. (Waitaki) referred to the difficulty in finance of farmers locally, who were under a deep debt of gratitude for the thoroughness with which Mr. Poison had worked in the matter, evidence of his sincere belief in its benefits to the farmers of the Dominion. He trusted that his mission would be successful. Mr. Poison would, no doubt, gather, as he always did, much valuable information to farmers from many points of view. Mr. W. Perry (Masterton), president of the Royal Show, hoped that Mr. Polson would return armed with information for a successful inception of hie system. Mr. C. K. Wilson (Auckland Province) said that in any step for finance the success of farmers was involved. The information could be gathered in no other way and by no better a man. The agricultural bank, in its importance' to farmers, and thus to the politics of the country, was a national question. Mr. J. H. Joll (Hawkes Bay) looked forward to Mr. Poison's return, and thus to the establishment of "Poison's banks."

Mr, A. E. Harding (Auckland) said. that Mr. Poison's trip showed the value of concerted and continued action. Mr. Pol/son had persisted until he had shown the value of the idea. Mr. J. C. Field (Gisborne) said that production in New Zealand had 'lagged for the need of finance. After visiting Denmark and other countries prosperous under the agricultural banks scheme, no doubt, Mr. Poison's arguments would prove irresistible. Mr. J. S. Jessep (vice-president of the Meat Control Board) said that any methods advocated by Mr. Poison would stand the test of time. Mr. G. M'Gregor (Waverley) said that whatever Mr. Poison put his hand to he carried through. . I RURAL FINANCE NECESSARY. Mr. Poison, in reply, said that in controversy over this question • he had ?iven and taken hard knocks, but he elt he had made no enemies. After all, the term "agricultural bank" meant rural finance. He was wedded to no particular scheme, but had merely advanced his own idea of the best scheme from the information at his disposal. There were possibilities of reforms in the matter of rural finance, and if matters could be made easier for the agriculturist, it would mean an advance for the country. The Commission showed that the Government appreciated the importance of the question, and his colleagues Colonel Esson and Mr. Cox would bo of tho greatest value to him upon it. Money could not be got cheaper than market price, but. it could be lent ■to producers with a minimum of overhead expense. They would tour Vancouver, : Canada, and the United States. South America (where there were features of rural finance worthy of investigation), and Europe, including Eeypt, Italy, Denmark, and Germany. He felt that the work was a responsible one, and wished to give the assurance that what be brought back would be hia honest judgment formed on the spot. He heartily thanked them for their presentation* to himself and Mrs. Poison.