SEEKING “REAL” PROPERTY

Evening Star, Issue 23421, 11 November 1939, Page 20

SEEKING “REAL” PROPERTY

REASON FOR LAND PURCHASES MONEYED PEOPLE FEAR INFLATION [Pee United Press Association.] WELLINGTON, November 10. A statement issued by the new Zealand Farmers’ Union declares that any demand for small farms at present is due to the action being taken to secure real property, rather than to fanning returns encouraging people to go on the Wellington province, the statement says, the demand is from business people apprehensive of the financial situation and not from farmers. It would probably be found that the same is the case in the Waikatb and other places where a demand for small farms is manifest “ My attention has been drawn to a statement by the Minister of Finance (Mr Nash) yesterday in which he contrasts my statement about dissatisfaction among farmers with a report from the Waikato about the keen demand for farms,” said the Leader of the Opposition (Mr Hamilton) in an interview. “ The political point that Mr Nash desires to make and the conclusion he drew from the Press statement to bolster up his weak argument are both erroneous. “Mr Nash should realise,” Mr Hamilton added, “ that his poliey_ has been and continues to be one which makes people with assets in money afraid. As the internal value depreciates, these people are eagerly seeking investment for their money in property and land which will always produce, while money can be inflated out of existence.”