FARMERS’ DEBTS

Taranaki Daily News, 7 November 1930, Page 12

FARMERS’ DEBTS

OVER A MILLION POUNDS. STOREKEEPERS AS CREDITORS. At a meeting of storekeepers from 31 towns in the Barellan and surrounding districts, held at Barellan, New South Wales, recently, it was stated that the farmers owed £1,097,627 to the storekeepers. It was resolved to appoint five delegates to interview the Minister for Agriculture to ask that where a farmer pays an amount off his account not amounting to full settlement, the Rural Industries Board shall make an advance sufficient to cover his requirements of necessities for the ensuing year. In a ease where.it was obvious that the farmer could not meet his obligations at tlie end of the year, the board should immediately, on receipt of his application, issue an order to cover his requirements for the period. The delegates will also ask that where a farmer is unable to reduce his account by the end of this year, by .20 per cent., tile board should undertake to pay not less than 20 per cent, during 1931 and a further 20 per cent, during 1932. In return, storekeepers will undertake not to institute proceedings for the recovery of accounts until after February 1, 1933, and will limit the interest charge to eight pei' cent, per annum. ; It was further decided that the board should be urged to facilitate efforts by the district representative in dealing with applications more promptly and that a deputation should endeavour to obtain a definite assurance from the Government that the necessary finance for next year would be available. It was stated that the money was owing to the 32 storekeepers present, exclusive of debts for machinery. It was stated that this sum represented only a percentage of the amount owing to business people in that part of New South Wales. The meeting decided to ask the Rural Industries Board to forego 20 per cent, of its crop liens. It was said that the position was alarming, and that the business people could not bear the burden of financing the farmers much longei.