RURAL IRELAND.
Sir,—l soo by the Herald that mortgage indebtedness on Irish laud is probably increasing by £2,000,000 annually. This is a good sign and shows that a numher of people are now getting "purchasing power' direct from the land and are "tapping" tile increase of produce from the land. The fact of the savings of the rural classes amounting to many millions of pounds shows that the mortgages havo something substantial to back tip the land or mortgage values. The long credit givcri by shops to farmers for foodstuffs which the farmer could himself grow, shows us that the people of Ireland are afflicted with the same " lazy microbe" that induces the people of this Dominion to borrow money and get into debt rather than work to raise products. When the Irish farmers eah borrow no more they will have to grow things instead of getting foodstuffs (probably New Zealand products) on credit from shopkeepers. The money put by Irish farmers in investments in London will enable the Irish farmers to live on foreign foodstuffs to the extent of the interest or returns received from the money invested and nothing heed be if>ißed to balance imports and exports. A. SANronrj.
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New Zealand Herald, Volume LI, Issue 15626, 4 June 1914, Page 10
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201RURAL IRELAND. New Zealand Herald, Volume LI, Issue 15626, 4 June 1914, Page 10
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