AGRICULTURAL BANKS
PREMIER PREFERS ADVANCES DEPARTMENT. (Our Parliamentary Reporter.) WELLINGTON, November 6. In the House of Representatives to-day referring to Mr W. A. Veitch’s criticism of the Governments proposals regarding agricultural credit, Mr Massey declared advisedly. He added that the State Advances Department of New Zealand was the best lending institution in New Zealand. He said that the maximum of the Government’s advancing powers £150,000, was considerably greater proportionately to the population than the subsidy of the United States of 4,000,000 dollars, which had been held up to the Government as a guide. Mr Veitch: Why not go on with it then? Mr Massey: Because of the criticism of the people who have been interesting themselves in providing an agricultural bank with a capital of £20,000,000 of which £5,000,000 was to be contributed by the State.
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Bibliographic details
Southland Times, Issue 19394, 7 November 1924, Page 9
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136AGRICULTURAL BANKS Southland Times, Issue 19394, 7 November 1924, Page 9
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