THE MORATORIUM.

Gisborne Times, Volume LIX, Issue 9575, 28 July 1923, Page 7

THE MORATORIUM.

HIGHER LIMIT OF ADVANCES URGED. WELLINGTON. Julv 27. The Dominion: 'executive, of the Dairy Farmers’ Union waited upon Mr Massey in reference to increasing the advances through the State Advances Office to £3500. The deputation argued that even the increased advance would only partly meet the i-asY of many dairy farmers, .whose mortgages alfec-tcd by the lilting ol the moratorium are in excess of that, amount. There wore also thousands of farmers debarred ov the technical clauses of the Act. The deputation asked that Parliament set up a Royal Commission to take evidence during the recess, and report next session as to the number ol farmers sheltering under the moratorium, lion manj were to avail themselves of the advances system,' and generally as to the position. v Mr Massey replied that -the present, average advance made by the Department was £1.200, or about one-third-of the maximum amount available. He might have other means of finding out’ the information desired, but promised to appoint a commission lLnot. P.A.