FARMERS' FINANCE

Evening Post, Volume CXIX, Issue 33, 8 February 1935, Page 1

FARMERS' FINANCE

BUSINESS CRITICISM

FURTHER CONFERENCE

SOUGHT

- A request for a further conference on the mortgage finance problem is contained in a letter which has been sent by the secretary .of the Associated Chambers of Commerce (Mr. A. O. Heany) to the Minister of Finance (the Rt. Hon. J. G. Coates). It is suggested that in addition to the Government representatives and members of the committee set up by the Associated of Commerce, the conference should include nominees .from the New Zealand Farmers' Union. The text of the is as follows:—

','Since'our last meeting with you, the views, of my, committee on the Government's proposals regarding finance have been published, along with an" outline of its alternative proposals. My committee takes this opportunity of assuring you that the strong criticisms it has made pf the Government's proposals are not to be construed as arising from any spirit of antagonism to farming interests; it is the earnest desire of the committee to assist in discovering for the general welfare a solution to the difficulties of the industry.

'.; "Further, rriy committee reminds you that it is not opposed, lor instance, to the mortgage-bond system, and it desires that . there should be . every facility for borrowers to effect long--term table mortgages in cases where they desire to do so. This was • indicated by the committee, in its published statement, when it suggested the encouragement of the formation of pri.yate mortgage corporations which deal in such mortgages.

. "On the subject of assistance to the farming community, the committee is anxious that this should be fully explored along lines consonant with justice and equity to, all sections of the community. _■, ; . ■ ...

'.'The.committee emphasises that it is 'hot opposed to the aim of .the Government to improve the financial position of our primary industries; it is the methods proposed by the Government with which the committee differs, and which, in the general; interest, it has' honestly and .conscientiously -criticised. "Anvindication; of alternative courses ofactfon tb'deal with the whole situations has.been given by the committee in > its ■•.-, published ■■ statement. ' These alternative proposals' were vnec'essari]!y; outlined very- brieflyj 'For 'all 'that;', they iwere earnestly put forward', after careful' thought and consideration, in an'endeavour to'deal equitably with the whole problem of mortgage finance. An'opportunity to discuss them with you-would be greatly appreciated, smce the ■committee is still strongly desirous of being helpful and constructive. The question is: What is the best method of approaching the problem, and the. best means of giving the assistance that is so badly needed by the farming, in^ dustry?' V ! ■' ■:■: ■■ ■ ■. -y-j;

"My.Committee realises that :v ypur: tiirie:is:-more than fully pccupied^lt notes that the New Zealand Farmers'! Union, is at present in conference, "and my-'committee'.makes the suggestion: thatif ycjur staff and a small represeh-' tatiye1 committee of the Farmers' Unibh conference at "present sitting ' could meet with my committee round'the table-and' discuss alternative me'thocls' of solving the problem, such a discussiojtiSshould^'at .ieast result in some substantial and worth-while contribu-tion',.::-itp, -the problem-i-which result could-then be further discussed with you .personally.

• "My committee would welcome contact with ;a. representative committee of the farmers, because it is confident that such contact would result in the removal'of. many misunderstandings. My-committee has not approached the conference of the Fanners' Union in the matter, but hopes that if you approve this suggestion you may.be able to ;arrarige such a meeting."