FARM MORTGAGES

Timaru Herald, Volume CXXXVII, Issue 19803, 19 May 1934, Page 21

FARM MORTGAGES

REVIEW DESIRED PRIME MINISTER GIVES ASSURANCE By Telegraph—Press Association ELTHAM, May 18. A definite undertaking that the Dairy Commission would consider farm mortgages was given by the Prime Minister (Rt. Hon. G. W. Forbes) to a deputation of 400 farmers this morning. The deputation put forward the view that the order of reference might not cover the question of mortgages. Farmers, particularly In Taranaki, were reaching the end of their resources and felt that mortgages should be tackled. They did not care what steps were taken so long as they were effective. It was suggested that the Adjustment Commission’s powers should be widened to enable it to give consideration to the adjustment of principal especially as the balance of some vendor mortgages represented unearned increment. Many farmers who might have to leave their farms were highly efficient farmers, and they wanted security of tenure. Mr Forbes said that the Government fully realised the importance of the question, which was covered by the order of reference. Farmers would have ample opportunity of placing evidence before the Commission, which would make some general recommendation. Each case would be treated on its merits. Mr Forbes, in a long address, replied to farming criticism of the Government which, he said, liked appreciation when it was among the people it tried to assist. No Government had done more for farmers, whom it had taken drastic steps to protect regarding mortgages. They should remember that there were mortgages on property other than farms. Mr Forbes, who attended the Jubilee banquet, received an enthusiastic welcome in the district on his first visit since becoming Prime Minister.