MORTAGE LAW

Manawatu Standard, Volume LVI, Issue 93, 19 March 1936, Page 6

MORTAGE LAW

GOVERNMENT’S PLANS. PRICES FOR DAIRY FARMER. Per Press Association. WELLINGTON, March 18. Readjustment or private mortgages as well as State mortgages and the restoration' of equities in laud and homes, is an important part of the Government’s future programme, the Prime Minister (Hon. Al. J- Ravage) stated to-day. The Government intended to set itself to the task of restoring these equities by promoting legislation authorising a readjustment of mortgages on a basis or the average of pnees received for primary produce during the past eight or ten years. “The reaujustment must be general Mr toavage said, “and the basui on what a. man can pay must be his income. We say to tne dairy farmer that we are going to pay him so much for his butter, and we will base that price upon the average worked out over the last eight or ten years. We will go to the mortgagee and mortgagor and will say that their mortgage must be treated on the same basis. Our job is to keep people on the land and in their homes. Tne basis of the whole scheme is New Zealand s power to produce. As we level up prices tor the dairy farmer, so must wages increase in both country and town. We expect that when tne Arbitration Court starts operating under the amended legislation it will start to base the wages of men in the towns on the same basis as we propose to fix puces for farmers in the country. The m ageearner is entitled to as much consideration in regard to mortgages as the farmea with his mortgage. . • Mr Sava.ge said that the only basis upon which to review mortgages was on the average of incomes ovei the last eight or ten years. The previous Government had adopted the °PP°® lt< T policy in dealing with farmers. It had said: “We are going to . P ut ' under observation tor a period of five years. Then we will have reached a basis upon which to work. That was not the present Governments way. intended to work on the av ®™ g ® ° prices for the past eight or ten years and thus arrive at a reasonable price for farmers’ products. It that state ment were analysed its basis would be found to be sound. . . • “Unless something is done to increase the farmer’s . money income progressively with the increase m production, then any. increase crf pi eduction under supervision will not as-ist him at all,” added the Prime Minister. “His monev income will remain about the same. The fanner’s experience tor the ten .years ended 1933 proves that statement. If we base our valuation of farm securities upon the average value of production over a period of past years, say eight or ten years, we can begin at once to rehabilitate tne farmer who is in difficulties.” PROBLEMS FOR PARLIAMENT. Commenting on the work of the coming session, the Prime Minister said the Government’s aim was. to turn Parliament into a real working institution. Members would not be asked to come to Wellington to cool their heels while waiting for legislation to be prepared. In the past there had been a lot of delay in getting down to business, but that would be avoided in th-3 future. For instance, he sawno reason why weeks should be spent discussing the Address-in-Reply. Personally be would be quite happy if the debate were confined to the speeches of the mover and seconder so that members could turn their attention to the big problems. Parliament’s job was to discuss in an intelligent manner the big problems of the day; not to spend days in discussing trivialities. In the past there had been an inclination to avoid the discussion of major problems, but if lie had his way that would be done away with. He was satisfied that the people were looking to Parliament for action rather than words, and the people would not be disappointed. The Prime Minister said lie was looking forward for the day when the representatives of the people in tlie countries making up the British Commonwealth of Nations would meet at one table and settle the problems that - confronted the Empire. He visualised some form of Empire Council. It w-ould not matter if the representatives of the Empire took twelve months to reach decisions. It would be time and money well spent. Whatever way they looked at the position they could not avoid the conclusion that some form of consultation such as he had suggested would be necessary. There was the question of inter-Empire trade. For instance, if the nations of the British Commonwealth were to arrive at a common basis on trade they would go a long way towards settling, not only the population question, but the military question as well. FAIR RENTS BILL.

Mr Savage, referring to the Government’s intentions with regard to rents, said he was fully aware of the position in the main centres and the Government had not lost sight of it. The Government would see to it that rents, as vyell as anything else, were on an equitable basis, and if it were necessary to do 60 it would not hesitate to introduce legislation on the subject. The Rent Restriction Act at present in operation was practically useless, as it had no real meanitig and probably the Government would bring in a Fair Rents Bill or some other measure aimed at overcoming the difficulty. There would be little use giving the people more money and other benefits-if those benefits were going into the pockets of landlords seeking to take advantage of the position. The people could rest assured that the Government would watch the position most carefully. Mr Savage said that there will be five or six major Bills ready for presentation when Parliament meets. The first would deal with the monetary problem. The mass of the people had every . reason to 'look forward to the work of Parliament with hopeful reelings. probably sofne people were looking forward to the session with misgivings, but he could assure the people as a whole that there was not the slightest reason for dread in regard to Labour legislation. He said that there was no intention to call upon employers to pay out more than their industries could stand. However, the Government would not allow any steps to be taken to defeat the object of its legislation, such as deliberate delay in taking cases to the Arbitration Court.