FARMERS’ CREDIT
(To the Editor.) Sir, —Can you tell me if if is correct that once a farmer comes under the Mortgagors Final Adjustment Act his credit is at an end? As trustee is appointed to receive all the farmer’s money and to pay out according to a budget for live years. Of course, the trustee cannot pay for anything that isn’t in the budget. The trus tee pays the taimer a small living allowance, and the trustee pays the farm working expenses and rates and rent and some interest, hut nothing else. If the farmer wants to buy a wireless set or a piano, or some furniture, he cannot possibly pay for it out of his small living allowance. The trustee cannot pay, as it is not in the budget. The shopkeeper, not knowing whether the farmer is under the Act or not, will hesitate to sell the goods anyhow! There is a penalty for publishing that a farmer has come under the Act, so the shopkeeper cannot find out. If he takes the risk, he will probably lose his money. Isn’t the credit of all farmers in danger?—l am, etc., PUZZLED.
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https://paperspast.natlib.govt.nz/newspapers/HAWST19350615.2.25.1
Bibliographic details
Hawera Star, Volume LIV, 15 June 1935, Page 4
Word Count
193FARMERS’ CREDIT Hawera Star, Volume LIV, 15 June 1935, Page 4
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