AID TO FARMERS.

Gisborne Times, Volume LXXXV, Issue 12913, 15 July 1936, Page 2

AID TO FARMERS.

READJUSTMENT OF MORTGAGES BAMS OF GUARANTEED BRICES. ‘Press Association! WELLINGTON, July 14. A bill providing for the readjustment ol all mortgages, on the basis of the guaranteed price for dairy pioclucts, would be one of the first items to come before the- House of Representatives when it resumes next week, said the Prime Minister, tho Rt. Hon. M. J. Savage, in an in terview last night. “It is the Government's intention that legislation should deal with ail mortgages, whether they apply to dairy farms or not,” saicl Mr. Savage “However, it is our desire to have legislation passed as soon as possible, as the guaranteed-price scheme toi dairy products will come into operation on Auguct 1. and mortgage readjustment will complete the picture for the time being, at any rate as far as the dairy farmer is concerned. “Wo are giving the dairy farmer a stabilised income and we. aim also at providing him with stable land values. In doing that we are not robbing any one. No mortgagee 'who hold a farm mortgage call hope to get out of that mortgage more than the land can produce. “If we base mortgages on the gu, ir an Red price, the result generally will be justice to all parties. Occasional anomalies may arise, but they can be attended to in due course.”