TRADING BANKS
REMIT CARRIED X MAKING ADVANCES REQUEST OF PAEROA FARMERS That all restrictions upon the right of trading hanks to make advances for the purchase of farm lands and its development be removed, was a remit moved .by Mr C. G. Jackson and carried aft the December meeting of the Paeroa branch of Federated Farmers. The remit was sent forward for discussion at the meeting of the Northern Thames sub-provincial executive committee. In moving the remit Mr Jackson explained that the previous Government had decreed that trading banks could not make advances to pay off existing mortgages. • The present Government had made an alteration and had now permitted trading banks to make advances up to £2OOO. The speaker instanced a case where an intending farmer had been prevented from taking up land by the existence of the restriction which had prevented the transaction being completed by a willing bank. If, said Mr Jackson, the farming industry was to expand and expansion was desired, then there should be no obstructions to the natural flow of capital into the industry.
After a full discussion in which the possibility of a land boom was considered the meeting decided to support the remit.
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Bibliographic details
Hauraki Plains Gazette, Volume 60, Issue 4367, 11 December 1950, Page 9
Word Count
200TRADING BANKS Hauraki Plains Gazette, Volume 60, Issue 4367, 11 December 1950, Page 9
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