FARMERS' PROBLEMS

Stratford Evening Post, Issue 29, 10 June 1927, Page 5

FARMERS' PROBLEMS

VIEWS Of MR. E. WALTER, M.P.

DAIRY CONTROL MATTERS. In hi s remarks in officially opening the show at Wharehuia 'yesterday Mr. E. Walter, M.P., had something to say ill reference to problems at present 'confronting the man on the land. DAIRY PRODUCE CONTROL. The producers of New Zealand, he said, were very much at variance lh regard to the value of Dairy Control; but he was or", opinion that it tho Board were properly managed its operations could be of very real value to the dairy farmer. It was not the low prices that were bleeding the farmers, but the high cost® of production, for, while the price of produce was below the pre-war standard, the cost of nearly every farm requisite was still at an abnormal level- In this connection he believed the Control Board had made an honest attempt to bring about better conditions. There was a controversy as to the Prime Minister's responsibility, but it should be remembered that Mr. Coates had said right at the start that he would in no way try to influence members of Parliament in reaching a decision on the Bill. Altogether he thought Mr. Coates had been rather badly treated over the whole matter. He was of opinion that the board should continue to function, bu;t under' an improved system of management, and that farmers should make a point of electing as their representatives men who were suitable and capable to deal with the big questions that would come before them.

THE MONUY 'MARKET. Dealing with the bank rate of interest, ivj.l-. Walter expressed tne opinion that JN'ew Zealand was getting money as cheaply as any oitner country in the world. He considered that cheap manures, and cheap money were the chief requirements qi tiie New Zealand farmer at the present time. At last they had cheap manures, but he could not see any chance of cheap money in the immediate future. ■ When farmers were told that they could get money art 4£ P e r cent from an Agricultural Bank they were only being misled, for the test terms other countries could borrow at were not lower than 5 per cent. At the same time he urged alt those with money for investment to purcha.se the land bonds which were now being prepared for issue as a first step in the direction of providing cheaper money for farming operations. Some people had said the bonds were not Government bonds, but he could assure those present that when ti.e Secretary to the Treasury signed those bands the Government was behind them and would not shelve- its backing. By subscribing to These bonds the pcoplo of New Zealand would be helping their fellow New Zealandors, for it was i.o use going on the Homo market for money intended for re-lending purposes at the present time. In fact, the Government had received advice not to attempt such a ,lioan while the balance of trade was against New Zealand, It was possible, however, that re loan for development purposes would be welcomed, because such a loan usually meant that a portion of the money raised was left in Britain in payment for machinery and equipment needed in spending the loan.