RURAL CREDITS.

Waikato Times, Volume 105, Issue 17712, 16 May 1929, Page 7

RURAL CREDITS.

STATEMENT BY PREMIER. GOOD PROGRESS , MADE. (By Telegraph—Press Association.) INVERCARGILL, Wednesday. Sir Joseph Ward states that the results of the visits of the DeputyCommissioner of Rural Credits to the Waikato district have been gratifying. Ho found Hie associations functioning satisfactorily, meeting the needs of a considerable number of borrowers, while Hie indications were Llial business would be greatly increased in the coming season, in view of llie excellent results the deputy-commissioner will visit Taranaki at an early date and later proceed to other parts of Hie Dominion. A gratifying feature was llial many practical farmers had joined the associations, not for the purpose of availing themselves of lending facilities, but with the object of aiding Hie progress of tho scheme, their services ueing purely voluntary.

FARMERS’ UNION DISAPPOINTED. RURAL CREDITS FAVOURED. STEADY FLOW GUARANTEED. (By Telegraph—Press Association.) WELLINGTON, Wednesday. At the Farmers’ Union meeting disappointment that Hie rural credits system was not taking the place of the advances to settlers’ system, was expressed by Mr Poison. The union, he said, was strongly in favour of the rural advances system. Slate advances were advances made l'rom money borrowed by the Government. Under the rural advances system the finance was obtained through the sale ol' bonds issued by the Treasury upon the security of pledged lands of the Dominion. The rural advances system guaranteed a steady liow of credit. During the past 30 years the amount of money available had fluctuated according to the policy of the Government In power. The matter of making representations to the Government was left to the discretion of Mr Poison.