Rangitaiki Federated Farmers Meeting Alleges Reserve Bank Controls

Bay of Plenty Beacon, Volume 12, Issue 29, 12 March 1948, Page 5

Rangitaiki Federated Farmers Meeting Alleges Reserve Bank Controls

At the conclusion of general business at the monthly meeting of Federated Farmers of New Zealand (Rangitaiki branch) on Monday, the meeting discussed the Reserve Bank control of Trading Banks’ credit facilities. Speakers were under the impression that the Trading Banks were ' severely restricted in their credit activities. The Reserve Bank, somealleged, would not permit even the financing, on adequate security, of farm capital. The meeting was assured that the Dominion executive, of Federated Farmers would be prepared to investigate and, if possible, to support any legitimate request by a farmer which any local trading bank had been forced refuse. Petrol rationing was also discussed from the farmers’ point of view. It was considered that farmers living within ten miles of a township were unduly penalised by the system operating at present, but the decision was to hold the matter over to the next meeting. • A statement issued by the Auckland Province’s office says the supply of petrol for tractors and farm machinery is through the local Fuel controllers and the local representative of the Department of Agriculture in country areas. The Fuel Controller will issue a provisional license. This provisional license is then sent forward to the local representative of the Department of Agriculture for final ratification. It was resolved to ask the Auckland executive to have the Federation’s films brought down -and shown in the Bay of Plenty districts.