FARMERS' DIFFICULTIES
MORATORIUM QUESTION
A MINISTER’S REPLY
[Per Press Association.]
AUCKI.AND, Dec. 3.
Asked to-day if the Government had considered a moratorium as suggested by a recent meeting of farmers, the Hon. A. J. Stall worthy said that the terrific fall in export prices had produced a crisis that must be faced. A moratorium was one of the last, if not the very last, weapons to be used. Its repercussions were sometimes more disastrous than the immediate evils it sought to remedy. The Government had reason to feel assured that it would be the banks’ policy to assist both primary and secondary industries over ♦ho difficult period. The inexorable demands of the stressful times would make it hard for a man with one big farm or more, plus a city residence, seaside residence, sundry speculations, two motor cais, and a bank overdraft. A bona fide farmer or a business man with a good reputation and a reasonable nrosnect was not in the same category. Ho had a fair claim on the financial institutions, which was likely to bo met The whole of the resources of government being used to safeguard the position.
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Bibliographic details
Wanganui Chronicle, Volume 73, Issue 440, 4 December 1930, Page 7
Word Count
192FARMERS' DIFFICULTIES Wanganui Chronicle, Volume 73, Issue 440, 4 December 1930, Page 7
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