HELP FOR FARMERS

King Country Chronicle, Volume XXV, Issue 3279, 14 March 1931, Page 5

HELP FOR FARMERS

TIDING OVER DEPRESSION.

A CANTERBURY SCHEME

Support for the Canterbury Chamber of Commerce's scheme for tiding farmers over the present period of depression was forthcoming at a meeting of the Greytown branch of the Farmers Union.

Mr. L. T. Daniell, of the provincial executive, who addressed the meeting, said that farmers all over the country were faced with an exceedingly precarious situation. They could not pay the interest on mortgages, nor could they find the money with which to pay their rates. On top of this, their usual channel for financing was closed to them. The Government asserted that it was not politic to crush those who had State or Public Trust mortgages, but this was simply creating a favoured class. The other class needed some sort of protection. The crisis which was fully expected this February was being stalled off, but it would have to be faced next year. The best scheme for tiding the farmer over had come from the Canterbury Chamber of Commerce. The idea was that the banks and stock agents should get together and open new accounts for their clients for twelve months—to provide them with sufficient capital to live and develop their properties—the amount advanced to be liquidated by the profits from the year's operations. After discussion the meeting carried a resolution:—

"That this branch, realising it is necessary to maintain production by keeping the farmer on the land, supports the suggested basis outlined by the Canterbury Chamber of Commerce."