PROBLEMS OF THE FARMER

Otago Daily Times, Issue 21993, 30 June 1933, Page 8

PROBLEMS OF THE FARMER

REVISION OF MORTGAGES NEW PROPOSALS ADVANCED GOVERNMENT’S POLICY STATED (Pee United Press Association.) HAWERA, June 29. ; Several proposals designed to effect a downward revision of mortgage alues were placed before the Acting Prime Minister (Mr J, G. Coates), at Hawera by a deputation from the North Taranaki executive of the Farmers’ Union. Mr W. J. Poison, the Dominion president, said the Mortgagors Relief Act was merely a palliative; its provisions did not go to the root of the trouble. • Other speakers said the farmer to-day did not know where he was. There was a definite need to stabilise the position. The speakers appealed to the Govern-, ment to take some action that would give the industry fresh heart. Mr, H. G. Dickie, M.P., who introduced the deputation, said he did not know why the Government should be asked to set up a special committee to deal with the matter. The present Government was sympathetic towards tile farmer. He was of the opinion that at present the Mortgagors Relief Commissions operating in New Zealand were dealing adequately with the problem and effecting adjustments satisfactorily both to mortgagors and mortgagees.

“ If I could not put up a better scheme than those proposed here to-day I would go out of politics,” declared Mr Dickie. Replying, Mr Coates assured the deputation that the schemes advanced would be studied and their possible reactions ascertained. Other countries had followed practically the same line as the Government had taken in New Zealand to try to protect the good fanner from possible eviction. The policy of the Government would be definitely ,to protect the man who was doing his best. “All we want is equity and justice applied in the case of mortgagee and mortgagor, and the simple procedure of the adjustment court makes this possible.”

Mr Coates also referred to the savings of some £10,000,000 which the Government had effected in two years in an endeavour to adjust costs to prices. This had meant sacrifices borne by every section of the community. The policy of the Government had been to reduce interest charges and rates, a policy which had been followed rigidly in all other parts of the Empire. The raising of the exchange raised the price of New Zealand primary and exportable commodities 25 per cent., and lowered the currency 25 per cent., bringing closer together the margin of costs and prices. He pointed out that before the rise in exchange costa were 25 per cent, above pre-war and prices -23 per cent, below. Referring to our exportable produce Mr Coates said the problem a short while ago was what to do with the New Zealand surplus. “Although I cannot discuss the matter here or place all the cards on the table at this juncture, I may say that I am much happier now regarding that problem than before. If New Zealand has to align herself with others in a quantitative restriction of exports I believe that the disposal of New Zealand’s surplus can be arranged satisfactorily.”