Rally of Farmers Proposed

Manawatu Times, Volume LV, Issue 7009, 19 November 1932, Page 8

Rally of Farmers Proposed

TO DISCUSS EXISTING CONDITIONS At a mooting of tho executive of the Feilding branch of the Farmers’ Union held yesterday it was decided to take steps to hold a rally of farmers with the object of considering tho present depressed stato of the industry. Mr. J, G. Eliott, who presided, said that the idea at tho back of tho meeting was to get a big muster of farmers to consider such questions as the disparity between farm costs and revenue, tho position of tho farming industry in regard to interest rates and generally to discuss tho existing unsatisfactory position. His idea would be, if such a mooting wero held, not to confine it to tho Feilding branch of the union but to ask tho Provincial president to join in making tho meeting as large a gathering as possible and to appoint capable speakers to deal with tho several subjects and to carry such resolutions as tho meeting may decide and forward them on to the Government. All knew that the farming members of Parliament wero getting together and wore bringing pressure to bear on tho Government and it appeared that there was not the slightest doubt that the rate of exchange would be lifted. That proposal was meeting with strenuous opposition from the associated banks but the evidence pointed to the exchange rate being lifted but whether that was going to be a good thing, time alono would tell. A rise in the exchange of 15 per cent, would confer a benefit on the primary producer. He desired to get the farmers together to discuss their problems and if thought desirable, pass resolutions and bring them under the notice of. the Government. It was unfortunate that more members had not attended the meeting because to his mind the position called for a frank discussion of tho existing position. It was high time the farmer took a more active interest in his own affairs. It was with that object that ho had called the meeting. Personally he considered it highly desirable to take steps to have a big rally. Air. G. Watt agreed with any proposal which would have the effect of improving the farmer’s position. Ho did not know whether making the exchange higher would bo a sound move. He did think, however, that interest should come down; tho banks were having more than their share and he thought that if farmers ' could bring pressure to bear on the Government something in this direction might be achieved. As far as he could see, and he confessed he did not understand financial questions, it appeared to be difficult to do anything to make times better in New Zealand as the problem was world wide. It would be a great help to get interest rates reduced.

Air. Eliott did not think much would be achieved in this direction when cao Government was offering 5 per cent, for money. He referred to the suggestion of Sir Henry Buckleton that the Government should raise a loan 6f £5,000,000 at 5 per cent, to assist tho farmers by way of a subsidy. Tno speaker could not see how any material help was going to come to the country by the Government raising a loan of £5,000,000 and lending it at 5 per cent. Tho whole country was crying out about the action of the Government in offering to pay 5 per cent, for money and while such a rate persisted there was little chance of reductions and yet the Prime Alinistcr told tne House that the Government was doing everything possible to lower interest. Private and public interest rates could not come down while the Government was offering 5 per cent. To his mind tho Government was the greatest delinquent as far as the rate of interest was concerned.

After a general discussion it was decided to communicate tho proposal of a mass meeting of farmers to the Provincial president with a recommendation that early action be taken.