FINANCE FOR FARMERS.

New Zealand Herald, Volume LIX, Issue 18222, 16 October 1922, Page 8

FINANCE FOR FARMERS.

A WAIKATO SCHEME.

GOVERNMENT MORTGAGES. [BE TELEGRAPH—OWN CORRESPONDENT.]

HAMILTON. Saturday.

At the meeting of the Dairy Farmers' Union, held in Hamilton yesterday, the special committee eet up for the purpose of formulating the land finance scheme proposed by Mr. Foreman, recommended the following for the approval of the executive: —

(1) That every farmer in need of financial assistance ask the Government to send one of its specially-appointed valuers to revalue his farm; (2) that the mortgagee be approached by the mortgagor intimating the Government valuation, and asking for his consent to such valuation, if any, and whether he would agree to the Government taking a first mortgage, for which it would pay 80 per cent, in cash, all subsequent mortgages to he arranged, this offer to stand open until the Government is ahle to redeem the mortgage, say, up to six months; (3) that the necessary money be borrowed in London ; (4) that the machinery of the Advances to Settlors' Department, be set in motion to administer the fund; (5) that any farmer who has more land than he can profitably employ have the right to dispose of the surpluß land by sale or lease; in the event of a sale the State to apportion the mortgage, non-residence to constitute a bar to an applicant for such sale or lease.