FARMER DIRECTORS

Matamata Record, Volume XIX, Issue 1791, 15 December 1936, Page 6

FARMER DIRECTORS

R.I.C. LENDING

Good Work at Morrinsville

The success of the Co-operative Rural Intermediate Credit system oi lending to farmers by boards of farmer directors was commented on at the eighth annual meeting of the Morrinsville R.I.C. Association. Services of Mr. G. H. Pirrit On the motion of Mr. J. H. Gaddes the association placed on record its appreciation of the valued ser-j vices rendered by Mr. G. H. Pirrit, who was a foundation member of the association, and was chairman of directors for about five years. Mr, Gaddes recalled that Mr. Pirrit had taken a really live interest in rural credit finance and had gone out of his way to help members of the association by advice when they needed it.

Endorsing these remarks, Mr. F. C. Kennedy said Mr. Pirrit had gone around the district keeping in touch with borrowers, and it was largely because of his good work that the association had never made a loss, although advancing such a large sum to so many farmers. A word of appreciation was also due to the secretary, Mr. J. L. Faulkner. Every borrower in the association was keeping up his payments, said Mx. Kennedy. All were “on their feet,” and it was pleasing to see that they had kept up with their obligations and at the same time improved their herds and pastures. “Put Farmers on Their Feet ” “ There is no doubt, the R.I.C. Association system has put some farmers on their feet,” said Mr. Gaddes, in further remarks. He made referenct to the work of Mr. Faulkner as secretary since the inception of the association. Mr. Faulkner had certainly been “the right man in the right place.” In acknowledging these remarks, Mr. Faulkner said that many farmers had certainly been helped a great deal as a result of the cheap finance provided by the R.I.C. system of lending. To him the work had been rather “ a labour of love,” and he was pleased that he had been of service to members. Mr. Faulkner recalled that to Mr. Pirrit was due the credit for the sound position of the association. Mr. Pirrit had been chairman during the slump years, which were trying years for anyone interested in financing farmers. Behind the association were an honourable lot of borrowers, . all endeavouring to meet their payments. Some borrowers had certainly asked for “ breathing space,” but this had been given them. Had they been “ pushed ” instead of helped the association would probably have made losses instead of having the good record of no losses. As was stated in the chairman’s report, the Morrinsville R.I.C. Association had now become an integral part in'* the farm finance schemes of the Morrinsville Year by year, as farmers get to know more about it, they would avail themselves of it more. It was one of the finest things that had been devised for the benefit of the farming community.

District Supervisor’s Good Work

The meeting placed on record its appreciation of the good work of the district supervisor, Mr. F. J. Moore, of the Public Trust Office, Hamilton. In reply, Mr. Moore said his association with the rural credit associations had been a work of extremely great interest. It had been a new scheme of finance, and he had been deputed to get the associations going in the Waikato. 'He appreciated the support accorded by the Morrinsville directors, and especially the co-operation of Mr. Pirrit as chairman for so many years. The R.I.C. system was undoubtedly one of the soundest schemes for helping the farmers. Briefly, a numbers of farmers joined together to borrow money to lend out to themselves.

Mr. Moore mentioned that this would probably be the last occasion on which he was associated with the Morrinsville E.I.C. Association, as this work would now be transferred from the Public Trust Office to the State Advances Corporation.

Mr. Moore thanked the directors and secretary for the assistance they had given him. He was Unable to say what would be the future of the R.I.C. associations, but he would do

all that lay in his power to ensure that the associations should continue as they were. The local knowledge of the directors was the reason for their success. Local knowledge of the borrowers and of farming conditions was recognised as essential for the success of any lending institution, private or public. WTiat of the Future ? \ In comment, members thought it would be a pity for the connection between the Public Trust Office and the R.I.C. associations to be broken. It had taken the Public Trust officers a long time to get to understand the R.I.C. Act, and if the business was handed over to the State Advances Corporation the new officers would have to learn over again. The State Advances Corporation was concerned with lending on land and not with lending on stock. It had taken the Public Trust officers a long time to realise, as they now did, that, farmer directors of the associations were competent to manage the lending of money to farmers as well as anyone else could.- «