MONEY FOR FARMERS.

Te Aroha News, Volume XXXIX, Issue 6335, 1 May 1923, Page 8

MONEY FOR FARMERS.

WHEN THE MORATORIUM ENDS

There are many farmers in '.ho Dominion who have been looking forward gloomily to the expiry of the moratorium in 192!. These settlers bought land during the war period and have been sheltering under the moratorium since, but have been wondering what was in store for them when it expired next year. It will be like news from Heaven to these farmers to know that they may now raise £2OOO from the Government Advances Office for the purpose of paying off their mortgages. Shortly before the Tauranga election campaign, Mr W. E. Parry, M.P., was in the Mafamata district and in view of the seriousness of the position for many farmers he telegraphed to the Prime

Minister asking if under the new Advances Act a farmer could raise £2OOO from the department for the purpose of paying off a mortgage of £2OOO. Mr Parry received no answer, so some days ago he again wired the Prime Minister asking him to reply. Mr Massey thereupon wired stating that he had not received the message and requested that it be repeated, and upon this being done telegraphed to the member for Auckland Centra! as follows: “The State Advances Department is accepting applications for amounts not exceeding £2OOO to pay off mortgages on farm properties.—W. F. Massey.” “This,” said Mr Parry, “means a big thing to a great many farmers who did not know what they were going to do when the moratorium was lifted. They will now be able to substitute the State as their mortgagee, and generally speaking, it will be very much more satisfactory for them to be at the mercy of the State than of private individuals. Very few, if any, farmers knew about this new provision, which will be hailed by them with delight. It will be rushed.” ✓ ;