A LAST RESORT
MR. STALLWORTHY'S VIEW
(By Telegraph—Press Association.) AUCKLAND, This Day. Asked to-day if the Government had considered a moratorium, as suggested by a recent meeting of farmers, the Minister of Health (the Hon. A. J. Stallworthy) said8 that the terrific fall in export prices had produced a crisis that must be faced. A moratorium was one of the last—if not the very last—weapons to be used. Its repercussions were sometimes more disastrous than the immediate evils it sought to remedy. The Government had reason to feel assured that it would be the banks' policy to assist both the primary and the secondary industries over a difficult period. The inexorable demands of stressful times would make it hard for the man with one big farm or more, plus a city residence, a seaside residence, sundry speculations, two motorcars, and a bank overdraft. The'bona fide farmer or business man with a good reputation had a reasonable prospect and was not in the same 'category. He had a fair claim on the financial institutions which was likely to be met. • The whole of the resources of the Government were being, used to safeguard the position.
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Bibliographic details
Evening Post, Volume CX, Issue 133, 3 December 1930, Page 12
Word Count
194A LAST RESORT Evening Post, Volume CX, Issue 133, 3 December 1930, Page 12
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