FARMERS’ BANKS

Evening Star, Issue 19952, 23 August 1928, Page 12

FARMERS’ BANKS

A CONTRADICTORY ATTITUDE [l'i’.OM Our Pa ui.iamz.vtar y Repoetkr.J ■ WELLINGTON, August 22. The demand for farmers’ banks which was heard during tho Budget debate received some attention from tlm Minister of Finance when replying. Taking the member for Gisborne as a typical advocate, Mr Stewart suggested that Mr Lysnar has been curiously contradictory. He was emphatic that what was wanted Was more self-reliance on the part of farmers, yet he suggested that- the Government should give the farmers’ banks a start with five millions sterling, and the farmers would raise forty millions. The Alinister added that he agreed with the demand for more self-re-liance, and if 'the scheme could be worked by the farmers, he would regard it as admirable. 'Tire proposed scheme-was copied from other countries where farmers’ banks’were lending to their Government.. In Belgium one o{ these ccr corns ' loaned eight or muo millions to the State, but in New Zealand tho process seemed all the othP' - way. Tho Government would give the facilities and tho machinery, and if tho farmers'would work it-, this was all to the good “If they want an agricultural bank, there.is nothing to prevent them stalling it,” concluded Air Stewart, “ but all the schemes so far presented consist of the Government launching it, supplying the funds, and taking only a minor share in its management.”