FINANCIAL AID TO PRIMARY PRODUCERS

Manawatu Times, Volume LIII, Issue 6536, 18 February 1928, Page 9

FINANCIAL AID TO PRIMARY PRODUCERS

Rural Intermediate Credit Board Meets MR COATES OUTLINES LEGISLATION (Per Press Association.) WELLINGTON, Last Night. The Rural Intermediate Credit Board recently appointed undtor the Rural Intermediate Credit Act of last session held its first meeting to-day. Before proceeding with formal business the board met tho Primo Minister, who took the opportunity of outlining the underlying principles and objects of tho legislation, which had been passed by Parliament, makihg provision for financial assistance to primary producers by way of a system of rural intermediate credits. Ho said the object was to secure a flow of capital for investment on the security, mainly of farm stock or produce at rates of interest which would make well conducted farming operations reasonably possible. Facilities were being offered for tho acuisition of land under terms, and arrangements were being made with the Railways to consider adjustments in freight. The Act did not interfere with the operation of the State Advances Act and tho fullest opportunity had been preserved for a person desirous of promoting a co-operative spirit to do so by forming Rural Intermediate Credit Assciations.

Arrangements also were b e ing made for the council of Scientific and Industrial Research to consider the question of rural economic investigations. The scope of inquiry by the Board would probably involve such matters as costs of production, farm management, rural finance and other matters of importanct to our primary industries, and investigations would be of far-reaching benefit to,the Dominion as a whole.