Farmers’ Finance

Northland Age, Volume 27, Issue 43, 2 November 1927, Page 4

Farmers’ Finance

Another Bill Mr Holland’s Criticism (Special to Age) Wellington Oct. 24. When the debate on the second reading of the Rural Intermediate Credit Bill was resumed in the House of Representatives on Friday, members of the Opposition took the opportunity of criticising the Government’s r j sdy assistance of farmers in the least difficulty. Members of the Government side were hopeful of good results though none was over-optimistk that ihe produce-s’ trouble would be at an end when this 1. gislatii.i. was placed .he Statute Book Hon. O J Ha wken salt! iha since 1918, the State had lent to private borrowers £64,339,773Mr H E Holla nd*-. express** himseit plainly. “Every time the farmer comes for financial assistance” he said, “the Government gives him a new Act oi Parlia-. ment. This Rural Intermediate Credits Bill is only one in a long procession of Acts of 'Parliament which the farmer has received at the hands of the State during the past few years.” The Minister's statement that sixty odd millions had been lent to private borrowers since 1918, is calculated to create the impression that this money has been provided for;primary production. This is not the case. A great deal of it was spent on the Soldiers’ Land Settlement force, and a very large amount on housing, and soon. If sixty millions had been available for the purposes of the primary producer per the medium of an agricultural bank farmers would have been in a better position to-day. Interest would have been lower, and a greater measure of . prosperity would have been experienced,