RURAL BANKS.

Waipa Post, Volume XXI, Issue 1280, 12 August 1922, Page 5

RURAL BANKS.

CITY OPINION SAYS TIME 1 OPPORTUNE.

(By Telegraph. Press Association.) WELLINGTON, August 11. Judging from what the bankers and •tabuisines's men here have to say about proposal of the Farmers’ Union Conference for the establishment of* hgricultural banks, the promoters of , the movement have cnosen an inopportune time for their effort. The bankers and business men cannot be altogether biased witnesses in the matter, since many of them are saddled with farmers’ accounts they would be very glad to hand over to any institution that would care to take them. Nor would they think of objecting to the farmers making this venture into the spheres of finance and commerce so long as they did so upon their own resources, 'and without involving the State in any liability, directly or indirectly. Short mt this they would wish the enterprise well. But they doubt the ability of any such organisation at the present time to raise capital at a rate that would enable it to be profitably re-employed at seven or even eight per ecnt. This would mean that farmers with ample security would fare no better, at any rate, than they are faring now, and that r.hose less fortunately situated would remain as gravely embarrassed as they are at present.