Cheap Money tor Farmers.

Feilding Star, Issue 158, 3 January 1895, Page 2

Cheap Money tor Farmers.

The following sensible letter appears in the Dunedin Star : — " Under this heading there is published in last night's Star a copy of Sir Robert Stout's views as supplied to the Press on the invitation of that paper. Most of the space is taken up with the statement of things that existed in the past, not a little in 'calling the present Government over the coals,' and some more in dealing with the 'ideal.' I have perused the whole, and extracted therefrom the practical portion, which I would like to reply to. Sir Robert, in viewing the subject from a financial point of view, fails to give any credit for the charges to be paid for valuations and mortgages, which, although small indeed with those charged at present, will amount in the aggregate to a tidy sum. And then coming to the question, from a farmer's point of view Sir Robert says : ' I submit that the ideal farmer's life is that of a landowner without a mortgage.' And then goes on to add : 'In the days of Horace,' etc t Now we are not dealing with the ' ideal ' farmer, but with the real one as he actually exists — not working with Horace's tree stump, but with a double - furrow plough. The real farmer in many cases requires to borrow money — often to purchase his plough and other implements of agriculture ; and if he can obtain this cheaper, easier, and each year see the sum borrowed being reduced— without feeling it— be would sooner let the 1 per cent, sinking fund go to himself than pay it in interest. Would not you, Sir Robert ? Sir Robert then says : ' I now come to the second point. Will it pay the farmer to take the money on the terms offered ?' And that gentleman points out that interest may be lower in a few years. Very well ; if such is the case, there is nothing to prevent the farmer taking the cheaper money and paying off the amount advanced by the Government, which principal sum, bear in mind, will not be so much by 1 per cent, for every year the Government have lent the money. With careful valuations and the 1 per cent, sinking fund, I maintain - that the State will be safe. And with the facilities for cheaper money, with gradual redemption, and the privilege of paying off the loan at any time — at the farmer's option -I assert that the farmer will be relieved of an immense jsgifll^^fcar^^nd^anxiety, and be inI H^^^HHflH^^HJfcrive him the

the chair^^^^^^^^^^^^^^^^^^^^H speaker. After a,f^ratn^^^^^^^^^^^^^^| Mr Safwers spoke^^^^^^^^^^^^^H "Diairy farming & s j^^^^^^^^^^^^^^^^| r / £lie prosperity f j^^^^^^^^^^^^^^^J Zealand," and organised systetr j^^^^^^^^^^^^^^^^H to the Apiti diij spected the di^^^^^^^^^^^^^^^^^^H vicinity of Ai__J|j^^^^^^^^^^^^^^^^^H it as eminentP^^^^^^^^^^^^^^^^^^H said that by *^^^^^^^^^^^^^^^^^^^| operative da°>^^^^^^^^^^^^^^^^^^H establishment factory, the **^^^^^^^^^^^^^^^^^| gain and no^l^^^^^^^^^^^^^^^^^^^| benefits of a^^^^^^^^^^^^^^^^^^| co-operative '^^^^^^^^^^^^^^^^^^^^^H would be jjj^^^^^^^^^^^^^^^^^^^H matter frj^^^^^^^^^^^^^^^^^^^H one Irom^^^^^^^^^^^^^^^^^^^^^H ceive un^^HHHMHl^^^^^^^^^^^^H and he tr^Rci up lndiv^HMr^^WPl^^rJP jealousy woW^M 1 * 61 * with the carry* r ing out of the scheme now before them but that one and all would give the,' project their'" heartiest assistance. He asked the settlers to bear in mind thai! the success 6i a iactory did not depend so much upon the question of money necessary to^steblish the same as upon the thorough" Vanity of the settlers, coupled with milk supply and management. These are the three factors upon which successful co-operation depends. And just as no chain is stronger than its weakest link, so, just as any of them are wanting in the working of a factory, : so far will the establishment be from conferring tho best benefit upon the settlers. After referring to the butter markets and competition, Mr Sawers said that the cost of a first-class cheese factory and equipment, capable of manipulating the milk of, say, five hundred cows, which he thought, would be large enough for the district for some time, would be from to iSBOO. After having answered a large number of questions concerning the best breeds of dairy cows, feeding of dairy cows, feeding of calves, production of pork, payment for milk according to its productive oharacter, milking machine and the building equipment, etc., etc., -of factories, it was Resolved, That a Co-operative Dairy Company be formed, to be called the Apiti Co-operative Dairy Factory Company, Limited, and that the following gentlemen constitute a Committee to collect information and canvass for support and; if sufficient support was found to be forthcoming to warrauit the establishment of a factory, to proewed with the formation of the Company and the establishment of such factory, viz., Messrs "W- Vicary, E. Nix, — Watson, E. Miffer, D. Rink, J. Johnston, R. Stewart. J. T. Clapham, E. Print, D. McKenzie, and J. Buckman. It was further resolved, That the selection of a suitable site for the factory be left in the hands of &lr Sawers. Mr Sawers was unanimously; accorded a hearty vote of thanks', for his valuable address, to which suitably replied and proposed a hearty vote of thanks to the Chairman. The Committeee met immediately after "tile pnblic meeting, to confer with Mr Sawers on matters of detail. Mr Nix was voted to the chair. Mr Sawsrs premiscJi &o send plans and specifications anopli necessary in»-*^^| formation concerning the incorporation of the Company immediately on his return fco Wellington. \_ ■ The Committee will nißhdt^^^^^^^J information from Mr Saw^^^^^^^^^^^H to hand. '^^^^^^^^^^^J