SOUTH AFRICAN FARMERS
LAND BANK OPERATIONS. CABINET’S LATEST SCHEME. CAPETOWN, Nov. 14. Cabinet has obtained General Hertzog's approval to place £1,150,000 at the disposal of the land bank, of which £750,000 is allocated to loans to farmers, £250,000 is voted to agricultural credit societies, and the balance is credited to small stock-bound called-up loans granted to absentee farmers who are distressed owing to falling prices of products.
The bank is extending the repayment of fencing and dipping loans from 12 to 20 years and reducing the interest on bonds from 6 to 5| per cent.
The Minister of Justice announces that the Government will not declare a moratorium because when the period ended the whole nation would collapse. The concessions are the Government’s reply to General Smuts’ repeated criticism that the Government was giving no effective help to farmers.
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Wanganui Chronicle, Volume 73, Issue 425, 17 November 1930, Page 7
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139SOUTH AFRICAN FARMERS Wanganui Chronicle, Volume 73, Issue 425, 17 November 1930, Page 7
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