AGRICULTURAL BANK.

Matamata Record, Volume VIII, Issue 597, 15 January 1925, Page 4

AGRICULTURAL BANK.

PARTY POLITICAL ASPECT.

Farmers’ Union Discussion.

Okoroire and Matamata.

Another Line of Cleavage. The Okoroire branch of the New Zealand Farmers’Union is, judging by the letter received by the Matamata branch of the Union at the monthly meeting, keenly in favour of the establishment of an agricultural bank. There were present at the meeting: Messrs. H. Rollett (president), B. Blennerhassett (secretary), A. Bowler, H. E. Mogford, G. J. Duxfield, J. Cranswick, J. Bowler, M. Madill, T. H. Prowse and J. W. Simpson. The Okoroire resolution, forwarded by the secretary (Mr. A. J. Willis) read as follows: —

“ That this branch of the Farmers’ Union considers the establishment of an agricultural bank to be of paramount importance to the farming community. The meeting decided that the next Parliamentary elections every at the next Parliamentary elections every candidate for this district should be asked if he would advocate and support the establishment of an agricultural bank, as outlined by member's of the Farmers’ Union. The meeting further decided to support no candidate (irrespective of party) who would not so pledge himself.” In a covering letter, Mr. Willis wrote

We consider that if it were not for the high prices ruling for produce (wool and butter) which are probably only temporary, the position of the farming community would have been precarious, owing to the difficulty in respect to finance; also, of the high cost of everything the farmers have to purchase. There is the expense for renewals procuration fee, and of releasing short term mortgages, with the even more serious trouble of and difficulty of arranging fresh mortgages to fit, is one of the big handicaps of a farmer. We consider that an agricultural bank, giving longterm mortgages, would be of inestimable benefit to farmers. We also think that on important questions, for the benefit of the whole farming community, much more weight would be attached to resolutions passed if there was some combination between the branches in the matter. We therefore invite your consideration of this resolution, and if approved, reported in the press.” The president said he thought the bank would be a good thing. Mr. A. Bowler outlined the Danish system, whereby district men went security for borrowers.. He was however, not greatly enamoured of co-operative affairs. In any case, farmers moved about too much in New Zealand for stability to be attained.

Mr. Simpson wanted to know how the agricultural bank would improve the position of a man who was already over-mortgaged. The letter was formally received, no other action being decided upon.