THE MORATORIUM

Feilding Star, Volume 2, Issue 318, 23 August 1924, Page 7

THE MORATORIUM

IKWS OF A GJiAMBEII Oh' (JOM-

AlttßCJi PIIESIIiKNT (Per Press Association.) Dunediu, Aug. 22. in his prcsidcutial address to the plutmber of Commerce, Mr Peter Burr, iii commending the Government's moratorium proposals, stated it was indisputably that the moratorium had Jed many cases to the farmer during prosperous years being applied to any other purpose than Llie .paying oil' of indebtedness, and thereby improving his position. To that extent it had done him more- harm than good. Commenting on Mv Jl. E. Holland's amendment for the State to take over mortgages not mutually arranged, Mr Barr asked why should the State take over this burden'arid not the liabilities of business houses) Which hare over-borrowed on debentures, or over-imported luerehandise? Why should the country be saddled with still heavier taxation, ou loans up '

fco £6,000,000 to relieve cither lenders er borrowers who' made bad bargains? When Parliament abolished the difference in the tax charged on interest reeoivod from mortgages and from debentures, and ended the moratorium, the position of the farmer would bo distinctly better,! anil mure hopeful.