DESPERATE PLIGHT

Taranaki Daily News, 20 December 1932, Page 7

DESPERATE PLIGHT

FARMING INDUSTRY MEETING IN WELLINGTON. 1 Palmerston North, December 6. That a meeting, of primary producers Which is to be held in Wellington on January 17 would achieve much was the opinion of one of the speakers (Mr* W. Hz Gimblett) at yesterday’s meeting of the Dairy Farmers’ Union Executive jn Palmerston North yesterday. He said that members of the Dairy Produce Board had put the position very clearly to the Prime Minister and had left without any hope being given them. Farmers should now take the matter. into their own hands. Mr. H. Seifert: I take it that all farmers realise the desperate plight of the industry. Unless something to dene an absolute rot will set in. Mr. Gimblett expressed the opinion that there was no of unanimity at such a meeting, where ‘many conflicting opinions would be advanced. “Every possible avenue will have to be searched to give relief, not only to the farmers, but to the whole of the rest of the community,” stated Mr. Seifert. “The farmers are the foundation of the Industry, but they are not the only ones. It may mean a higher rate of and a reduced rate of interest.” The chairman (Mr. N. Campbell) said the position of the primary producers Was critical.

“Let us tackle the problem of exchange with both hands and clean, it up," stated Mr. Seifert. Mr. Short; That will not reduce farmers’ capital ,pne iota. Mr. Seifert: While we continue to follow the road of deflation we must cut down capital. Mr. Boyce: And then you destroy your security. It is about time we tackled the matter with common sense. To me it is ag easy, as falling off a log. There never was any need for a slump, There is merely a shortage of money to circulation. There is a glut of everything else. It is the advice of the financiers that has got us into difficulties. While there is plenty of food and clothing to toe world there is no necessity for any to go short. It is a question of managed currency. “I do not believe in- repudiation, but I am an Old Country man and there when a man. cannot meet his obligations he files to bankruptcy,” said Mr. A. N. Morcom. “It is the honest thing to do.”