COMPENSATING PRICES.

Taranaki Central Press, Volume IV, Issue 383, 15 March 1937, Page 6

COMPENSATING PRICES.

Scheme Explained to Taranaki Farmers. An expi.iiintiqn of a scheme of compenEuiing prices . 4'hs given to a meeti- of 't iranaki farmers at Stratford oi Saturday by Mr J. R. Furjuss, of Huntly, Snd the scheme received unanimous support. Mr Furnisc said he was opposed to th. guaranteed pripe because its basis v. as fallacious It was computed on a o-ye-a- period, which had no connection with rising costs. The c ..te for compensating prices had been formulated after the Farmers’ 11; on Dominion executive had conferred with Cabinet at Wellington in February,, 1936, explained Mr Furniss it had been published through-

put New Zealand, but iat no time since then, had the. Government answered it. ilt proceeded to explain the mean-in-j of compensating prices, referring to the difference in the price of New ?. nland produce on British markets ■ id L he price of goods in New Zealand to be purchased' with the money I obtained by the farmer for his projduce. The reduction of costs by the I scaling down of mortgages created a .iticrentution between the farm' r mortgagor and the farmer who had bis capital in his property. The reduction In mortgage costs would not affect the second class, which was ent iil d to interest on its capital. The same Government that had i s tated, through Hon. F. Langslone, !t -at revision. of the guaranteed | price was impossible at pretent, had it- s’ted a revision Of the freezing 'workers “guaranteed” price. Farmers j would continue to be ignored until I they stood solidly together and asked ■for one thing. ; With regard to land valuer inflapon, sai l Mr Furniss, he and his colleagues ■re veiling to assist the Goveriun nt to cope with inflation when : it occurred. Rural land values had de- [ ereused since 1916, butter production j had increased 500 per cent, in that / riod, and in the same time city /.nd values had increased 300 per I rent., while secondary industry ofliciI ency had g creased in. comparison ' with world standards. The farming I community had not reaped the benefit of that reduced valuation and increased production because all the time had been loaded with increat'-