AGRICULTURAL BANKS

New Zealand Times, Volume XLIX, Issue 11366, 13 November 1922, Page 10

AGRICULTURAL BANKS

Apparently Mr Massey, regards , the farmers of New Zealand in much the some light that Carlyle viewed the people of England. Undoubtedly he considers the New Zealand farmer a very simple child-like being who is quite incapable of directing a full powered agricultural bank of issue. In place of this effective financial instrument 'he offers a paltry scheme for the formation of rural credit associations, a puerile expedient, a Toy Bank, for the farmers of God’s Own Country, and God knows that these credit associations, if any are ever formed, will become the laughing stock of the world, and will not affect the avarice of the Bank of New Zealand and its coterie of associated banks one iota.

The farmers of this country must surely now realise that their financial interests are being toyed with by the Prime Minister of New Zealand, and that their only hope is to so cast their votes at the coming general election that a Government pledged to give them a real live fullv fledged Agricultural Bank, or better still a State Bank of Issue empowered to furnish the whole of the credit New Zealand requires for developing existing primary products, and for the manufacture, of these products into articles of commerce of immense value, and which enterpriseo would create employment for tens of thousands of workers and artizans of all classes, adding enormous wealth to Now Zealand’s credit annually. ■"Published by arrangement-!