DIVERGENT VIEWS

Gisborne Times, Volume LXXII, Issue 11494, 23 November 1931, Page 7

DIVERGENT VIEWS

LISTING FARMER MOR-T- ---. . GAGORS REPLIES ;TO P.B. PROPOSAL Some time ago the Poverty Bay executive- of -•the Farmers’ Union, wrote:. tc> other .branches of tho orrranisation proposing that, to re~ fieve mortgagors m tlio present tune nf stress, mortgagees should be compelled to take over : the land and arm it for two or .three.years, paying interest to the mortgagor on his two-fifths equity m the property; Should the mortgagee be- not prepared to farm the land, then the mort-. irnfor ' should have the right nlv for a reduction of interest. Povprtv Bay sought views on tho proposal in the letter circulated. 1 Invercargill wrote that lho executive could not support tho proposal, as- it was not. considered Auckland. came the following j v . “My executive, considers that currency and tariff reform contain tho real solution to the problem niul are just-alike to mortgagor and, mortgagee. So'long as costs of every, description, are increasmg, the mort-c-eeo’s money is reduced by lessen--ed purchasing power, perhaps not at r'he particular, moment; but over a. neriod. The real causes ot the abnormally high, costs mNew Zealand, ‘ o m protective customs taxation vliich has the effect of practically, doubling every charge within, the Jountry and. (2) an effete nnd uselpss currency system, which means the withdrawal of currency and credit when most wanted, while money is pitched at anybody.when times are onod Under the well known illustration, the banks are always prepared to lend the umbreUa on a ennshiny day and require it back at TufS sign of rain. The suggestion that mortgages should be so arranged as to give a proportion oi re'U, to the mortgagee, making him gharo in bad times as well as in Lod would by itseli not meet the nohtion as long as legislators amuse themselves by dreaming of an mexliuvstibto treasury and proceed to throw monetary rewards to all and sundry 'for political purposes. “In view of the recent announcement of the Hon. W. D. Stewart”, mn the Dunedin reply, it is felt Hnc the Government; should J>e given an opportunity of reshaping the hill along the lines indicated by Mr gtewart and that this council should reserve criticism until it has had an opportunity of seeing how the bill works.’’ . ' . \lr F. S. Bowen pointed out that the amendments in the bill were on the lines suggested by the union In a circular from headquarters, tho following means were suggested for helping the farmers in their precont position: “Reduction of mteiest, derating of farm lands, the suspension of tho Arbitration Act t e provide for optional arbitration, further economies in public and local expenditure, and a drastic downward revision of customs tanks so soon as the Budgetary position made it possible.” . , The letters were received.