POLITICAL NOTES.
DIFFICULTIES OF FARMERS. SPEECH BY MR, HAWKEN. (By Telegraph—Special to -Star.) WELLINGTON, July 11. Mr. Hawken, member . for Egmont, addressing the House last night, devoted considerable attention to the fin. ancial problems affecting the farmers. The Government had spent £20,000,000 in settling returned men, and now the problem was to meet the financial debts of farmers. This had been met by the record amounts loaned, and he realised that more would have to be borrowed, but there were difficulties. The dairy farmers were paying a halfpenny per pound on butter for exchange. As New Zealand exported more than it imported, borrowing on top of this was making the exchange problem difficult. The Liberals advocated agricultural banks, but this did not solve the problem. Agricultural banks could not lend beyond, 66 per cent., while the Advances Department could lend 75 per’ cent., which was a much better method of assisting the producers.
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Hawera Star, Volume XLVIII, 11 July 1924, Page 5
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153POLITICAL NOTES. Hawera Star, Volume XLVIII, 11 July 1924, Page 5
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