INTEREST RATES

Timaru Herald, Volume CXXXVIII, Issue 19961, 20 November 1934, Page 6

INTEREST RATES

OPINIONS OF FARMERS oy Telegraph—Press Association MASTERTON. November 19 Devoting several hours to-day to the discussion of the report of the Dairy Industry Commission, the Wairarapa provincial executive of the Farmers’ Union spent the greater part of that time in an exchange of ideas on the subject of interest rates. The opinions expressed were somewhat varied, but there was fairly general agreement that interest rates were likely to fall to a low level and must do so in order that the industry’s burden of costs might be supportable. A number of members contended that the first-class mortgage rate of 3h per cent, suggested by the Dairy Commission was too high. The opinion was freely expressed that better terms would be obtainable by allowing the interest rate to find its own level than by attempting to fix it. It was agreed ultimately to urge on the Government the need of a further reduction in interest rates in keeping with the current prices of produce. A resolution was also passed approving! the zoning of dairy suppliers to pre**ent overlapping in the collection of