FUTURE OF DOMINION FARMING.

Gisborne Times, Volume XXVI, Issue 2173, 24 April 1908, Page 2

FUTURE OF DOMINION FARMING.

lIOAV .UNIONISM MAY AFFECT THE "AIAN ON THE LAM).

Press Association. - CHRISTCHURCH, April 23. At tho hearing oi tho farm laborers’ disputo before the Conciliation Board to-day, ovidenco was given by Edmund George Stavoloy, managor oi tho New Zealand Loan and Mercantile Company, Christchurch, who sta- ] ted, in reply to Mr Evans, that lie did not think that the time was opportune for altering tho conditions under which agricultural operations are being conducted at present. Can you givo tho Board any reason for that opinion? Witness: I should say that the small fanner is not doing so well os he has been doing during a series of years, owing to tho lower values some of their principal products. Wool is considerably lower this season than for some years past; sheep are lower in price; fat lambs, which are a considerable source of revenue to the small farmer, aro very much down from what they were. The Chairman: What about tho prospective outlook regarding these particular items? I don’t ask you to prophesy. _ Witness: It is very difficult to s:i.v. 1 certainly do not anticipate any serious deterioration in tho value of our staple products, though it frequently happens. . Continuing, in reply to Mr Evans, witness stated there had been a very decided and serious fall in tho value of some classes of wool, which was as much as 3d to 4d per lb. Tho Chairman: At present prices for products can farming bo conducted profitably? Witness: That depends on the conditions. If expenses, such as rent, interest, or wages, wero increased, there would ho so much less profit to the farmer. Is there any possibility of any increase on these three items? Witness: I don’t know in regaid to relit and wages, hut as far as interest is concerned, there is every prospect of that. An increase in the price of money ? j Witness: Yes.

Witness, continuing, in reply to ■Mr. Evans, stated that conditions that would increase the expense on farms would undoubtedly be detri mental to the small farmer. He knew that a good many small farmers were bearing as much as they could at-present. His company'would not advance to farmers so freely if the conditions were made more adverse than those at present existing. To Mr Thorn': The price of wool last year was about the average. Five or six years ago the average, price was about 5d or s£d. The price this year in the Dominion 1 was 7d to 9d, but the price had fallen on the London market.

Taking all things into consideration, is the price of wool exceptionally low or is it just about an average rate at present P Witness: It is not exceptionally low. •

Continuing, ho stated that the present price of fat lambs was fairly high. Prices had fallen from an exceptionally high figure to ' a good price. His company did not lend money on town property. He imagined that the effect of an award would be the same as regards the question of advancing money whether it applied to industrial or agricultural pursuits.

Why do you say there is a possibility of tho price of money going up ?

Witness: I can scarcely give the causes, but there is a stringency existing which, especially to those in financial circles, is likely to continue for some time.

Continuing, witness stated that in advancing money to farmers, he took into consideration all the circumstances of the farmer, and did not- specially take into account whether or not ho paid his sons’ wages, but id farmers had to pay their sons’ wages it would not improve their position financially.

Mr. Kennedy: Supposing a farmer had a family of sons, would you advance money more readily to him than to ,oue whose family consisted only of girls? (Laughter.) Witness: lam sorry to say that, from a financial point of view, a family of boys is a bigger asset to a farmer than, a family of girls. We lend on live stock and produce, but we do not schedule his family. (Laughter.) To Mr. Evans: His company had pursued a conservative policy during the past year or so oil -account of “disturbances in the air.”

To Mr. Thorn : The American financial crisis had had a far greater effect on the policy of the company than the farm laborers’ dispute. This concluded the evidence available to-day. The Board then adjourned till 10 a.m. to-morrow, when the final witness will be taken.

At an earlier sitting of tlie Board, Mr. Jas. Hay, solicitor, of Tiniaru, referring to wheat-growing in the Dominion, stated that New Zealand was approaching the time when no more wheat will he grown than is required for consumption in the Dominion, and, consequently, the time was coming when the price of wheat will be ruled not by the 'London market, but by the New Zealand market. Asked by the chairman (Mr. AY. Minson) if the area of land devoted to wheat-growing would be lessened as the result of an award in the farm laborers’ dispute or as- the result of fattening sheep and lambs being more profitable, Mr. Hay said that of the two factors the more potent one would be the greater profitableness of sheep. They might yet see New Zealand importing wheat, though it would be a great calamity if "New Zealand, with its soil and climate, did so; when that ■time came farmers would grow wheat and pass on to the consumer the increased cost of production, which would result if " an award on the lines of the demands of tlie Farm Laborers’ Union were made.

Air. Hay further stated that an award in the farm laborers’ dispute will mean to the small farmers of Canterbury the difference- betwec'U sinking and swimming.