ABANDONED WHEAT FARMS

Poverty Bay Herald, Volume LX, Issue 18236, 3 November 1933, Page 3

ABANDONED WHEAT FARMS

1200 IN W. AUSTRALIA ASSISTANCE OF BANKS PERTH, Oct. 2G. Giving evidence, before the State Agricultural Bunk Royal Commission, which is inquiring into the bank’s internal administration and organisation, the finance administration of advances to farmers, and other aspects, tho managing trustee, Mr. E. A. MeParty, said that the bank could not bo set up as a profit-making concern comparable with trading banks. Its policy was the development of the country, and any loss had to be taken as a ' national contribution to the State’s development. The assistance rendered to farmers was more generous than in any other country in the world. The bank had been criticised for not having collected interest from clients during prosperous years, but that was because the land was only productive after five or six years’ work. The farmer had then to*buy machinery, and owing to the necessity of meeting these and other commitments, leniency had to be extended.

Regarding interest payments, Mr. McLarty declared that development; in the farming industry through the bank’s activities had fully justified any financial loss to the State. About 75‘per cent of Hie farmers had been assisted by the bank, 1200 abandoned farms were on its hands, ami a huge sum would be required for machinery replacements. Hundreds of farmers wore struggling with worn-out machinery. Prospects were much brighter on sheep properties.