MORTGAGES ON FARMS

New Zealand Herald, Volume LXXI, Issue 21804, 19 May 1934, Page 12

MORTGAGES ON FARMS

SUBJECT FOR COMMISSION ASSURANCE BY MR. FORBES IMPORTANCE OF QUESTION [BY TKMCOKAPn —I'ItKSS ASSOCIATION'] ETjTTIAM. Friday The definite undertaking that the Dairy Commission will consider the mutter oi' farm mortgages was given by the Prime Minister to a deputation of 400 farmers to-day. The deputation out forward the view that the order of reference might not cover the question of mortgages Farmers, particularly in Taranaki, were reaching the end of their resources and felt that the. question of mortgages should be tackled. They ,did not care what steps were taken, so long as they were effective. They suggested that the mortgage adjustment commissions' powers be widened, giving scope for consideration of the adjustment of principal. Many farmers who might have to leave their farms were highly efficient. They wanted security of tenure. Mr. Forbes said the Government fully realised the importance of the question, which was covered by the order of reference of the Dairy Coinmission. Farmers would have ample opportunity for placing evidence before the cowmission, which would make some general recommendation. Each case would bo treated on its merits. Mr. Forbes, in the course of au address, replied to farmers' criticism of the Government. No Government had done more for the farmers. It had taken drastic steps to protect them in regard to mortgages, but farmers should remember that there were mortgages on property other than farms.