FARM FINANCE.

Hawera Star, Volume XLVIII, 30 July 1924, Page 5

FARM FINANCE.

DIFFICULTIES IN THE WAY. (BY TELECPi^a—-PRVBB AsrjPTATioV 1 WELLINGTON, July 29. Speaking an- the question of agricultural hanks, the Hon. O. J Parr during the Budget debate in the House to-night, contended that they would be so tied up with restrictions that they could, not possibly compete with the Advances Department lending at 4,} per cent. It was true that it was not possible for the Advances Department to make every advance as soon as it was asked for, but how could agricultural banks, with restricted capital, do any better? On the subject of hanks generally, he said there was often most unfair criticism. In recent years of the slump the hanks had saved the country from a. most serious crash by com--111", t .° ™e aid of many institutions and individuals who otherwise must have smashed, arid only the courageous policy of the banks had saved the ,posi*l'. i nofc understand much ot the hostility to the banks, as the position would not be improved by a State bank. Australia, had not benefited by its State bank. There the Commonwealth Bank paid no taxation and he ventured to say that, if W e exempted our banks from taxation we rate d iaV6 a mnch lower overdraft