TABLE MORTGAGE SCHEME

New Zealand Herald, Volume LXXI, Issue 21935, 19 October 1934, Page 13

TABLE MORTGAGE SCHEME

WIDER POWERS FOR BOARD BETTER HERDS AND FARMS A comprehensive survey of the whole of the Dominion's dairying industry and its problems is made by the Dairy Industry Commission whose report was presented in the House of Representatives yesterday. An announcement is to be made shortly by the Prime Minister as to the Government's intentions to implement the report. The commission suggests the creation of a Council of Production and Trade of three members to co-ordinate all primary industries, and the reorganisation of the Dairy Produce Board, reduced to eight members and possessed of wider powers in overseeing production and marketing, local and overseas. A Rural Mortgage Corporation, financed by publicly subscribed State guaranteed bonds, to undertake long-term mortgage business and to reshape the finances of farmers in difficulties is advocated. The commission rejects subsidies and price guarantee proposals. Plans for improving farms, stock and dairy factory equipment and for improved education in all phases of the industry have been prepared. The capital expenditure is estimated at £3,025,000, of which £1,800,000 would be recoverable. The members of the commission were Mr. Justice Frazer and Messrs. G. A. Duncan, J. Gilkison, W. A. lorns, and D. O. Williams. Mr. lorns had to withdraw owing to ill-health.