FARMERS’ PROBLEMS

Gisborne Times, Volume LXXII, Issue 11404, 3 January 1931, Page 2

FARMERS’ PROBLEMS

HOW CANADA WILL MEET THEM.

CREATION OF PRIVATE CORPORATION.

(UP.A. by Elec. Tel. Copyright) OTTAWA, Dec. 30.

. Speaking at Regina (Saskatchewan) Prime Mifiihter Bennett, said tlie financial difficulties of tlie farmers. of Canada would be met by the creation of a private corporation, in ■ which banks, transportation companies, industrial concerns and insurance and mortgage companies would, be shareholders. The ' company will use its capital as a revolving loarrfund, from which money may lie loaned to farmers to assist them in intending their operations into mixed farming; Mr. Bennett also stated that tlie Federal Government proposes ...to . offer, the provincial Governments . its wliqle,hearted and immediate co-operation in the efforts they are making to alleviate the suffering of their people during the winter and provide them with best grade seed for spring sowing. No steps'will be, taken to fix tlie price ‘of ' wheat." The Premier said the. jurisdiction to fix the price, of wheat rested with the provinces but. apart from legal consideration it would be unwise to fix a price in excess of the world price, because Canada, unlike the United States, could not hope to absorb her surplus wheat by. domestic consumption. . Two other announcements of vital interest to the' wheat growers were made Ivy the Prime . Minister. He said that ‘word had been received that France will guarantee to liny at least seven million bushels of tlie 1930 wheat crop. At. the same time, arrangements are.' being made with a view to marketing wheat in China. The Canadian Minister to Japan, Mr. Mailer, was now on route to'China to discuss the sale of millions of bushels of wheat to that country. The Government was prepared to provide credit facilities to China in order to open up' Such, a valuable trade channel. Mr. Bennett further said lie expected an agreement would be reached at the adjourned . Imperial Economic Conference in Ottawa next summer which would mean broader Empire markets.