TEMPORARY RELIEF
MR. COBBE CRITICAL
The Hon. J. G. Cobbe (National, Oroua) contended that the dairy, farmers did not know where they were. Neither .did the mortgagors nor the mortgagees. The mortgagee was sure of only one.thing, and that was that the money he leaned was only partly his. He compare i the Bill to a badlycooked dinner—it did not satisfy the cook and it did not satisfy the diner. One regrettable fact about: it gave definite Parliamentary sanction to the lowering of commercial morality..; It would be unfortunate if the impression was created, overseas that agreements in New Zealand were something that could be repudiated. He thought that instead of the measures proposed
in the Bill something should : have been done to reduce interest rates. The Minister of Finance (the Hon. W. Nash): Would not that be breaking a contract? . ~ Mr. Cobbe said that all agreed that the farmer should be rehabilitated, but they did not agree that this BUI was going to do it. And it would not give the expected help to the mortgagor. It could not be truthfully said that the Bill was all bad; but the reason for that was that a good deal had' been taken from the Rural Mortgagors Final Adjustment Act. It was simply an anaesthetic that gave temporary relief.
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https://paperspast.natlib.govt.nz/newspapers/EP19360916.2.160.4
Bibliographic details
Evening Post, Volume CXXII, Issue 67, 16 September 1936, Page 16
Word Count
218TEMPORARY RELIEF Evening Post, Volume CXXII, Issue 67, 16 September 1936, Page 16
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