HELPING THE FARMER.

Taranaki Daily News, 11 July 1923, Page 5

HELPING THE FARMER.

NEW ADVANCES SCHEME. A MORTGAGOR’S POSITION. (By Wire —Parliamentary Reporter.) \\ ellington. Last Night. “There is no section of the community that has felt the disadvantage of dear money more than farmers have,” said Mr. R. Masters (Stratford) In a speech during the financial debate In the House this evening. “They have been hit at every turn, and I hope the legislation which is at hand will relieve the position. The proposal to increase the maximum amount which will be loaned by the State Advances Office from £2OOO to £3500 is one I appre- | ciate. I appreciate also the increased margin on which money shall be loaned from 60 to 75 per cent.” Mr. Masters proceeded: “I want to refer to the position of a mortgagor desirous of paying off a mortgage. I submit that any man who has a mortgage has an equal right to secure the Tull advantage of cheap money from the State with the man who has no mortgage on bin property. Go far as I can see there is no good reason why a man who has not a mortgage should receive preference over a man who has a mortgage. Many farmers who have mortgages are protected by the moratorium. Others have their mortgages falling due, and they are anxious that thev shall be provided with sufficient money to finance on a favorable basis, but under the present legislation a man in that position is forced to pay one per cent, more than the man who needs the assistance much less.”