SUGGESTED MORATORIUM

Taranaki Daily News, 17 December 1930, Page 6

SUGGESTED MORATORIUM

“NO GOOD FOR THE FARMER”

DISCOURAGING TO INVESTOSS.

MR. RANSOM PROPOSES TRIBUNAL.

By Telegraph.—Press Association. Masterton, Last Night. Reference to the proposal to institute a moratorium was made to-day by the acting Prime Minister, the Hon. E. A. Ransom, speaking at the opening of the Ruamahanga River bridge at To Ore Ore. Mr. Ransom said it -ftas the duty of the Government to assist particularly the primary producers in the development and operation of their industry. They were told by some people that a moratorium should be instituted with regard to farming loans. This was a proposal that needed looking into very carefully.. As a farmer, Mr. Ransom said a moratoriitm would be no good to the farmers. Since the institution of the last moratorium it had been very difficult indeed to get people to invest money in rural securities. The aim should be to attract money into these securities instead of ' discouraging investment. He would rather see sbme attraction offered to invest in rural securities than put a penalty on this type of investment. Nearly half of the mortgages of the Dominion were held by the public departments. He would give an assurance that as far as these departments were concerned every endeavour . woiild> be made to keep farmers bn the land that was now in occupation, and that-.no hardship whatever would, be inflicted on those who were mortgaged to the State with regard to the. difficulties the country was passing through. , - Mr. Ransoni was convinced that private investors, realising the seriousness of the position, would not press unduly on borrowers for a settlement. Mr. Ransom said he had been consider; ing' whether something might not be done to ensure reasonable consideration to mortgagees; whether they might not set up some sort of tribunal before which mortgagee and mortgagor could be brought together if it was necessary to discuss the position and ascertain whether fair treatment was being given.