NATIONAL PRODUCTION

Wanganui Chronicle, Volume 74, Issue 230, 29 September 1931, Page 9

NATIONAL PRODUCTION

AIDING FARMERS IN NEED. MONEY FOR FERTILISERS. SHORT-TERM LOANS SUGGESTED. The possibility of making advances to farmers for fertilisers by means of short-term loans on the lines of rurai credit advances in cases where the farmers could not afford to topdress, was suggested by the chairmdn of directors of the Auckland Farmers’ Freezing Company, Limited, Mr. J. E. Makgill, at the annual meeting of the company last week. “Probably no question is of greater public importance at the present moment than the maintenance of the top-dressing of our pastures,” said Mr. Makgill. ‘ ‘ There is clear evidence that the volume of top-dressing has been much reduced during tho past autumn and this spring. This will almost certainly bo reflected before long in the volume of our production, which mean a still further fall in the national income and in the available work which all production creates. It is therefore of vital importance that means should be devised by which assistance will be provided to maintain the top-dressing required, to at least prevent a serious falling off in our national income. “Already a certain amount has been done in this direction, but much more is required. Ido not suggest that help should be given from public resources without placing the loans so granted in a sound position. Such advances should be secured by way of a registered memorandum of first charge on the property on which the expenditure is incurred. This probably requires legislation to be made workable, but the way should be cleared for the making of such "further advances, or agreement to such first charges by the various Government lending departments where they hold the mortgages, and for the making of such loans by rural credit boards. “These should, of course, be shortterm loans on the lines of the usual rural credit advances, which are already proving very helpful to many farmers. Such loans should be made only for the provision of manure, seeds and, where under-stocking is evident, for extra stock. “The scheme might mean a considerable sum, but if worked with reasonable <caro should assist in maintaining a level of production which will be of real importance to the whole community, including the mortgagees and the farmer,” concluded Mr. Makgill. “If this idea is given effect to, there would be no undue delay regarding security for tho loans, and it is possible that a considerable amount of tho financing might be arranged by merchants and agencies dealing in manures.”