AGRICULTURAL BANK

Southland Times, Issue 18973, 21 June 1923, Page 11

AGRICULTURAL BANK

CONSIDERATION DEFERRED. A remit, moved by the Waiau Branch of the Farmers’ Union, was tabled at Friday’s Provincial Conference to the effect that the Union should do all in its power to bring pressure on the Government to form an Agricultural Bank. Mr E. Sim stated that he formerly held the opinion that the State Advances was the better proposition, but since having heard Mr Polson’s address, during the Winter Show at Dunedin, he had changed his view, for the reason that eventually the Labour Party would become the official opposition, and that being so, the opposition party had a chance of getting on the Government Benches. W’hen the Labour Party did so, if ever it did, it would be a bad lookout for the farmers. He thought it would be a wise policy to ask Mr Polson to visit Southland and explain the position fully. The Chairman stated that the executive had been in communication with Mr Polson on the matter, but had been unable to agree to his request that the Farmers’ Conference should take place during the Winter Show week. This had been impossible to arrange at such short notice. Mr Polson had. however, stated that that being so he would endeavour to arrange to pay a visit to Southland at a later date during the winter. The delegates could rest assured that the executive would do everything to bring about Mr Polson’s visit. Mr Major said he had heard Mr Polson expound his views, and it was very essential that they should hear him speak personally on the matter. Mr Crampton stated that Mr Polson was aiming at securing a guarantee of £lOO,OOO so that if farmers were in want of assistance they could get it. Mr Bacon said the matter had previously been discussed, but had not been gone on with, the feeling being that further information was required in order to fully understand its purpose. It was a vital necessity that something should be done in the interests of the farming community. Mr Johnson stated that even if it did rake five years to bring the proposed bank into being it would do good work. It had been a success in other countries, and there was no reason why it should be a failure in New Zealand. It certainly took time. In one country the bank had been started with a capital of £3OO, and it had gradually worked up by economic administration, and so relieved the situation very considerably. He hoped they would affirm the principle. Mr Bowmar suggested that the remit should be deferred until Mr Polson visited Southland, and this was accordingly done.