RURAL CREDITS.

Manawatu Standard, Volume XLVIII, Issue 167, 14 June 1928, Page 7

RURAL CREDITS.

SUPPORT ACCORDED SCHEME,

FARMERS NOT REALISING BENEFITS.

“Farmers in this district- have not organised to take advantage the Act as they have in the Waikato, where the benefits to be derived undci the measure were realised by prominent men connected with farming and steps were pi'omptly taken to set up organisations to secure the advantages for farmers,” said Mr A. S. Fair©, Rural Intermediate Credits Supervisor for the Manawatu-Well i ngton district, when questioned by a “Standard reporter this morning as to how the rural credits scheme was being supported in this district. _ “The position here is that it_ has been necessary to embark on consideiable publicity-before any great interest

lias been taken in the scheme, except, perhaps, with one exception—that is, the Feilding district, where an association has been formed and is now m a position to function. As a result ot recent addresses, action is being tan.cn to have an association formed in Palmerston N. to servo the district in the vicinity, and to have another foi mod at Levin to serve the Horowhenua. In Marten it is hoped to have an aviation set up for the Bangitikci distiict. Addresses will be delivered this week nt Raetihi, Ohakune and Laihapc and it is possible that some action may be taken to have an association ioimcd to «rve the interests of the farmers in those districts. . . -, -i “As far as possible it is desned to avoid small associations, f° r 1 sidered that a larger association can quite conveniently and more ciC' give effect to the objects of the Act P jn the Manawatu- Wellington district several applications for loans direct from the board have been, received and are being dealt with, and m practically every case the loan has been guaranteed bv a dairy company, indicating that, while there is a benefit to farmers generally, the scheme is of particular interest* to dairy . farmers In some eases the board is unable to lender assistance owing to the inadequacy o the security. A safemargin is required for each loan. Unfortunately disappointments must be expected, but, generally, sympathetic consideration is given' to every application. . “Touching on a correspondent s views ns expressed in the ‘Standard on Saturday last, I have no intention of entering into any newspaper conospondence In connection with the rural credits scheme, but the question i a sed n that letter can be answered m this wav • Tf a man borrows on his lard and stock the maximum amount that any prudent ; bu.»no» man would lend., he would have, cf course, an equity in the land and stock. In some cases that equity wo Id he more than £IOOO, but, commercially that equity is not a security foi an advance. So far as .this scheme is concerned, there is no intention of advancing moneys on such equities. Re ference was also roac.e to returned soldiers being debarred under this scheme, but no farmer is debarred from obtaining a benefit who has adequate security to offer. • „ “The Commissioner, Mr J. u . Macdonald, is addressing the National Dairy Association’s conference at tne Show and farmers who are interested v.ill be able to obtain further mtormation.”