SOUTH AFRICAN FARMERS.
SCHEME OF ASSISTANCE. (UNITED 1 PllfiSS ASSOCIATION —BT ELECTRIC TBUSGRAPB—COPtRIOST.) CAPE TOWN, November 14. Cabinet has obtained General Herteog's approval to place £1,150,000 at the disposal of the Land Bank, of which three-quarters of a million will be allocated to loans to farmers and a quarter of a million voted to agricultural credit sofcieties. The balance will be credited to small stock societies. Bank advances will Jgiven only where bonds are eftlled up.' Loans ate not granted to absentee farmers, but are given to farmers who are distressed owing to the falling prices of products. The bank is extending repayment of fencing abd dipping loans from twelve to twenty years, reducing the interest on bonds from 6 to 54 per cent. The Minister for Justice announces that the Government will not declare a moratorium because when the period was ended the whole nation would collapse, The concessions are the Government's reply to General Smuts's repeated criticism that it is giving no effective help to farmers.
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Press, Volume LXVI, Issue 20087, 17 November 1930, Page 11
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168SOUTH AFRICAN FARMERS. Press, Volume LXVI, Issue 20087, 17 November 1930, Page 11
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