HELP FOR FARMER

Dominion, Volume 28, Issue 107, 30 January 1935, Page 10

HELP FOR FARMER

“Everything to Ensure Fair Spin” GOVERNMENT’S POLICY Reviewed By Minister of Finance By Telegraph.—Press Association. Auckland, January 29. The Government’.s policy to assist the farmer was reviewed by the Rt. lion. J. G. Coates, Minister of Finance, at. the opening of the Helensville Agricultural and Pastoral Association’s show, lie made special reference to the mortgage finance proposals. Air. Coates .said the fanner and bis wife and children must secure their living and the maintenance of his farm must be attended to. There were said to be about 50,000 farmers who, if the bankruptcy law were applied, would be intide bankrupt. Was that a right position for tlie country to be in? he asked. Surely some formula could be arrived at that would be acceptable to both parties. X ■ Mr. Coate,s said Government securities had been brought down to low rates of interest and loftil body securities were little higher. Yet, for financing the major industry of the country, rates were still-very high. Referring to the healthy condition of the pig export trade, Mr. Coates paid a tribute to the foresight of the Governor-General, Lord Bledisloe, who, three years ago, had done much to promote interest in the industry. At that time only about 100,000ewt. of porkers and baconers was exported, yet this year it was estimated that between 750,000 and OOO.OOOcwt. would be exported. ' When it was realised that I,OOO.OOOcwt. of porkers or baconers was equivalent to 3,000.000 exported lambs, the public would appreciate how much the industry was worth to the Dominion. Important Date In History. “Has New Zealand done right in arranging quantity of meat exports to Great Britain?” Air. Coates asked. “I say, definitely, that if the producers of the world had been allowed io export all they wanted to Great Britain, meat prices would have been lower in comparison than the butter prices. The prices we are securing to-day are solely due to arrangements, made at Ottawa until a better method of dealing with the difficulties of world trade can be evolved. I say to the farmers, stick to those agreements.” The most important date in the history of the country would be August 20. Air. Coates added. On that day the British Government would be free, if it so desired, to impose a quota <qi dairy products from all countries, including New Zealand, or .impose a levy. On the one hand the idea. of restriction was distasteful; yet on the other hand, so long as the world’s products could be dumped in England, New Zealand would be subject to the evil of fluctuating prices. New Zealand would have to decide whether it would agree to quantitative restriction or not. The problem of the farmer is a most difficult one, but the Government is doing everything in its power to ensure that he is given a “fair spin,” Air. Coates concluded.