Fanners Protest at Bonds for Woolgrowers

Manawatu Times, Volume 68, Issue 48, 26 February 1943, Page 4

Fanners Protest at Bonds for Woolgrowers

Non-transferable Government Stock, which the Prime Minister (lit. Hon. P. Fraser) said would be paid to woolgrowers as part of the 15 per cent, increase granted by the United Kingdom Government on this season’s clip, was described at a meeting of the Wanganui Provincial Executive of the New Zealand Farmers’ Union as “mere dead money’’ on which farmers -would be required to pay income tax. 11 Some farmers might even have to borrow to pay this income tax,” declared Mr. K. O. Montgomerie (Kakatahi), who added that non-transferablo Government Stock would be just as big an asset as a heap of bricks in the back yard. Following a discussion tho following remit, moved by the president (Mr. T. Currifi, Brunswick), and seconded by Mr. Montgomerie was carried:— “This executive strongly resents the Government’s decision in regard to the 15 per cent, increase in wool and recommends that the Dominion Executive should confer with the New Zealand Sheepowners’ Federation with the object of taking legal advice as to tho best means of upsetting the arrangement. ' ’