MONEY FOR FARMING.

New Zealand Herald, Volume LXVI, Issue 20255, 15 May 1929, Page 16

MONEY FOR FARMING.

Sir,—l have just read a letter written by " Percy . Vere" and I think he has struck the right chord. If the Government had the interests of the country at heart instead of subsidising the cities with £2500, that money would have been put on a block of pumice land to be roaded and cut up into farms by a practical man. That could be made profitable. I have worked bush land and pumice land and now gum land, and none of them can be brought in so easily as pumice land. It seems to me that the whole lending population of New Zealand is fostering the cities. The Advances to Settlers Department will lend £IOOO to build a house in the city, but will not lend a farmer £ISOO. Although labour in the country costs more the farmers do not want luxuries. The .Public Trust Office administers estates and the surplus cash is put into debentures. Insurance agents come round and insure farmers' lives and their surplus goes into city debentures. There is always money to lend on city a'nd suburban property. Can you wonder at the stagnation of the country ? There are hundreds of farms like my own only half improved and we cannot get any further for want of money. My opinion is that nearly all the ploughable land in New Zealand can be made to pay interest on outlay if worked by a practical man. If the Government would set up the machinery under the Advances to Settlers or the Rural Credits Board to take up partly improved farms and lend up to .70 per cent, of the value of the improvements when completed, and make progress payments, it would increase production and work for the unemployed. Failing the Government, I think it would pay some business men to form a company and sell debentures. If they had practical farmers as valuers they' could lend out at a profit and it would increase trade. - Unfortunate Pioneer.