RURAL FINANCE

Feilding Star, Volume 5, Issue 1130, 18 June 1927, Page 5

RURAL FINANCE

ADVANCES TO FARMERS. A DIFFICULT PROBLEM. in his speech at ilia Manawatu and West Coast A. amt 11.I 1 . Association’s .smoke concert. Premier Coates made a. brief reference to the question of farm finance. The problem was a most difficult one. said Mr Coates. Those present would realise that it would lie most unwise for any Government to endeavour to find all the money that was necessary to pay off the mortgages to improve properties and build houses. It was 'the endeavour of tiie Government to work out a scheme whereby they would bo able to supply the farmer with money at a, reasonable rate of interest. They did not want the* farmers do realise that it was impossible for the State to advance money in every instance unless the security offered was sufficient. The available figures went to show that So per cent, ol the farmers’ accounts were normal; the others were unsound, either through having paid too high a price lor their land or owing to the costs lining too high. There was far too much being said about the farmers walking off the land. It had been said that they bad been marching off in tribes, but such a statement was entirely irresponsible. It seemed to him that what was desired was an organisation that would act as a gobetween for the mortgagee and the mortgagor.