Dear Sir,

Bay of Plenty Beacon, Volume 7, Issue 59, 24 March 1944, Page 4

Dear Sir,

Letters to the Editor must be clearly written on one side of the paper only and where a nom-de-plume is used the name of the writer must be included for reference purposes. The Editor reserves the right to abridge* amend or withhold any, letter or letters. THE FARMER AND LEASE-LENI> Sir, —Your article headed "Lease-. Lend Agreement" of March 7th inst. should be of vital interest to those farmers who read your paper. lit is quite evident that our Government cannot put any leasable proposition before the farming community. The Lease-Lend as wc see it to-day is a capital levy of the meanest mind, and is not charitable, since it taxes the purchasing power of those who work; for the benefit of. those who • obtain it by financial manipulations. Mr D. G. Sullivan states that lie is not aware that the American Government does, not pay a subsidy to keep down the cost, of production; it is a poor way of sidestepping the issue, for if it should be so, it would make, matters worse for the country trading with her (America) under dollar holdings; and on the'base of Lease-Lend would bring this country further into debt. The Minister's statement that a fixed ratio between New Zealand cur* rency and the United Kingdom £ obtains the rate between this country and the United States, iis auto-? matically determined by the United Kingdom £ and the dollar: goes to show that we. are well on the wrong side of the dollar under Lease-Lend which is helping to force the farmer well below production costs. It is foreeably clear that New Zealand is being lead into the t\vo-» up school of financial credit with the double-header being rung ill all the time; the Bank of England and Wall Street holding the kipp. This opens the question as to who is con-» trolling the policy of this country's "fiscal" policy. For lie that holds the credit of the nation, con-: trols the Government, of that nation! It is well that the primary producer should sit up and take stock of. current events. Whilst our Farmers' Union investigates these linancial problems, which are swamping and stultifying production, it is only by co-operation and the combined effort of the branches of their Union, that the individual farmer can sustain his industry; and the country to which lie belongs. Yours etc., W. BRADSHAW.