FARMERS’ FINANCE.

Waikato Times, Volume 97, Issue 15272, 23 June 1923, Page 5

FARMERS’ FINANCE.

AGRICULTURAL BANKS. PREMIER’S HAND FORCED. By Telegraph.—Special to Times. WELLINGTON, Friday. Whatever may be the ultimate fate of Mr W. J. Poison’s agricultural bank proposal, its author and liis allies of tiie Farmers’ Union will bo able to take considerable credit to themselves for having forced the Prime Minister’s hand in extending the operations of the Advance to Settlers’ Department. It would be irrelevant and a little ungenerous at this time of day to recall Mr Massey’s vigorous opposition to Sir Joseph's “cheap money” scheme of 25 years ago, from which the Department lias grown to its present huge dimensions; but it is fair to say that since Mi' Poison commenced his persistent agitation the Minister’s interest in farmers' finance has very materially quickened. This being Die case it is for Mr Poison and his friends to consider whether they would not be bettor advised in urging the Government to add to the Advances Department an agricultural bank rather than in pressing the demand for an institution of their own with a State guarantee. Several leading bankers have expressed themselves as favourable to such an arrangement, which would bear a much closer resemblance to the American and European systems Mr Poison lias been quoting with approval than would tiie hank he has proposed himself.