AID FOR THE FARMER.

Waikato Times, Volume 112, Issue 18808, 2 December 1932, Page 9

AID FOR THE FARMER.

J (To the Editor.) j Sir, —It seems to be generally agreed 'that the majority of the dairy farmeis land sheepfarmers of New Zealand are | in a most serious financial position—lin fact, are staring absolute nun in I the face. If their ruin should eventu!ate there is not a man, woman or child ! in New Zealand who will not be adj versely affected. To avert this j national calamity the remedial measures to be adopted must make provision for an increase of a very largo sum to the farmer’s income and be capable of being applied immediately. The only practical measure which embraces these two essentials appears to be an increased exchange rate to, say, 25 per cent. The Prime Minister says this is a bankers’ business, and referred the matter to the Associated Banks of New Zealand, and their decision is that the rate shall not be raised. In tiiis view they differ from the view' of the manager of the Bank of New South Wales in Sydney, who says that if any alteration is to be made in the 25 per cent, rate for Australia it should be to increase it to 30 per cent. With deepest respect I venture to differ with the opinion of .Air Forbes on this exchange question. It is not a question to be decided by the banks. It is not a question to be decided by learned professors or Royal commissions; neither is it a question to be argued about from the standpoint of whether such a drastic measure would be wise or unwise if times were normal, for the simple reason that times are not normal, an.l that the necessity for immediate action to avert a national disaster brooks no delay. If there is any better way than raising the rate of exchange let it be adopted, so long as it fulfils the two vital conditions.

This is pre-eminently a question to be decided by our statesmen and representatives in Parliament, if it is realised by them that the crisis requires the enactment of emergency legislation, then let them grapple with their work, sinking all party feeling in view of the urgency, and pass the necessary legislation before adjourning for the Christmas holidays, and thus make a Christmas box to the depressed farmers and pul new hope in their hearts for the coming year. Consider the position of our dairy farmers in comparison with those of Australia. Every pound of butter exported from Australia carries a bounty, which is paid to the exporter. Last year it was 4id a lb. If that is still the rate it gives the Australian butter exporter an advantage of about 40 per cent, over the New Zealand exporter, and on top of that, the Australian has an advantage of 15 per cent, extra on the exchange. Shall we leave our farmers to meet sucli competition as this unaided and rest content with pious expressions of sympathy with them, or will our legislators show their sympathy by their deeds? —I am, etc.,

J. THORNES Auckland, November 30, 1932.