HARD WORDS

Gisborne Times, Volume LXXXIV, Issue 12869, 23 May 1936, Page 5

HARD WORDS

COMPLAINT BY AIORTGAGEEB GOVERNAIENT'S MORTGAGE REDUCTION proposals At.UST THEY BE LOSERS? <Ppo«s Association). CHRISTCHURCH, At ay 22.

Some hard word* were used by speakers a t! a, meeting ol the Mortgagees andi In vet so rE Association last evening to (Escribe the treatment mortgagees had received through the legislation passed by the National Government, Th-eye were about 75 present and, after several speakers had emphasised the need for action to protect mortgagees in. tha future, the following resolution was> ■ passed unanimously :

“That because of the unjust and tyrannical treatment received from the late Government through the Mortgagors Relief and Adjustment Acts, til’s meeting of tho Alortsagccs and In vest oi s’ Association is of opinion that representation should tm made to tho Prime Minister and his Government by a deputation fimn the central executive in Wellington, setting out among other thin.gn (I) the desire for representation on the Adjustment Committee; (2) the desire to .have a vtv-re in arranging tho method of arriving a 1 a true valuation of properties; (3) ai request that, in. any inquiry, both parties should disclose- all tlvr.r resources; (4) a desire to get affair and square deal generally.

Speaking for mo:tgagees who, under tho late- Government, were ignored. and explaining why the meeting had been called. Air T. Buxton, who presided, said people were becoming afraid, of what the Government might dr.' about taxing those with resources. The Government had said it) was going to value moitgagos on -ai bast/, of a guaranteed, price. Hew it was going to do that he- was not at all sure. But what was going to happen if there was a discrepancy between this ascertained value and tho present value? The meeting considered that mortgagees should not have to lose that money. All they were asking was justice for loth parties.