AGRICULTURAL BANKS.

Hawera Star, Volume XLVIII, 24 July 1924, Page 9

AGRICULTURAL BANKS.

REQUEST TO GOVERNMENT. r ß\' TELEQ” —PtIVBo AHSQfUi'rinK' 1 WELLINGTON, July 24. “That we again emphatically impress upon the Government the necessity for legislation to enable farmers to form agricultural banks,” was a motion moved by the president of the Farmers’ Union at its annual meeting to-day. Mr. Poison said it was asked what was the object of the bank when there was such a magnificent institution as the State Advances Department lending large sums to settlers. Mr. Poison said he yielded to no man in his admiration of the work of that department. He did not suggest that the department should not be gone on with, but it did not perform certain, functions which an agricultural .bank would automatically; perform, and it did not get rid of , the many anomalies and impositions which they suffered from under the ordinary bank in" system. "

Mr. IV. B. Matheson said that an advance by the State of £IOO,OOO for the establishment of the system would & thoroughly sound investment-. The Minister for Lands, in reply, stated that any remarks he might make 'would be his own opinions and not those of the Government. He did not think thoro Avas atiy sorious difference of opinion in Parliament today as to the virtues associated with agricultural banks. There were, however differences of opinion as to how tar the State should go in supporting the system. Reference had been mad- 3 to £IOO,OOO. To his (Mr. McLeod’s) mind that was only a fleabite He was quite sure that if that amount won 1(1 set up an agricultural bank it would be found in five minutes as far as Parliament was concerned. There was, however, the very large question of how far the State should go in guaranteeing the bonds of- an institution while* State itself was carrying: a department, not altogether on the '•?ame lines but which was intended to meet much of the existing difficulty. t the day c-ame when an irresponsible Government was in office, the precedent set up m connection with agriou tural banking would be extended to fields which he was sure the farmers won id set their face against.. He admitted the beneficial results of agricultural banking in other countries Messrs Forbes Trield, Sykes, Masters', Bitehener and McPherson promised to gu r e support to the measure for the establishment of an agricultural bank i lie motion was carried.