FARM MORTGAGES.

Kaikoura Star, Volume LIV, Issue 37, 14 May 1934, Page 4

FARM MORTGAGES.

WHANG AB E). May 10. Speaking at a largo meeting in the Town Hall, the Loader of the Opposition (Mr Ar. J. Savage), stated that while everyone would agree that the dairy industry needed assistance, they would not agree with the attitude taken up by the Prime Minister in the matter of restoration of wages and salaries. The Prime Minister had stated that the time was not. opportune for a restoration of the wage and salary

cuts, but it was difficult to see where any real assistance to the dairy farmer could come from unless the p« u ple ha 1 money Io pay any increase in the price of butter that might be ilecii'-'d unon. If the income of the people was allowed to remain as at present, said Mr Savage, it was an economic fallacy to think that any rise in the price of butter could possibly benefit the farmer except at the expense of all others. Even then it could not be a lasting benefit, as it would probably inean the use of less butter at higher prices. The way out of the difficulty was to have a thorough inquiry into farm mortgages, with the object of having them readjusted on a basis that would allow the farmer to enjoy a reasonable standard of life. That could be accomplished if the dairy farmer wore cold what was

expected of him and if he were given a guaranteed price based upon tl.o icadjustment of farm costs, but to raise the price of butter or any other commodity without at the same time making financial provision for the people who arc expected to pay the increased price would only be fooling the farmer and everyone else concerned. The only foundation of increased prices was increased monetary incomes for those with less than an ample standard of living. Mr Bnvagc revived a vote of thanks in ’. nfidenc.s