RURAL CREDITS.

Thames Star, Volume LXII, Issue 17449, 11 October 1928, Page 4

RURAL CREDITS.

One of the most interesting -and encouraging reports laid before Par-

liament this session is that of the Rural Intermediate Credit Board covering the policy and operations of the Board for the brief period of its existence. The report, which is signed on behalf of the Board by the Commissioner (Air J. W. McDonald), indicates very clearly that this scheme of finance for farmers is capable of being developed into an institution of very far-reaching importance and value. The purpose of the Board, as is now generally known, is to facilitate the securing of finance by fanners against what are known >as chattel securities —live stock, crops, implements, etc*. —at a low rate of interest. Farmers may negotiate loans themselves direct, or act through an organised' association composed of farmers working on a co-operative basis; or through existing ' co-operative associations. With the organisation of the Public Trust Office to provide the machinery, and an initial advance of £400,000 from the Government to put it on its feet, it may be expected that the Rural Intermediate Credit Scheme will quickly progress. Those who have been over-ready to criticise this effort to provide cheap finance for farmers on chattels securities will derive little comfort from the success already achieved, while the prospects ahead are most encouraging- _ ,