Farmers Unable to Pay Interest on Mortgages.
GOVERNMENT CANNOT ASSIST. WELLINGTON, Jan 14. The Hon Sir Thomas .Mackenzie yesterday asked tlie Attorney-General the following question: “Is it the intention of the Government to introduce legislation for'tlie purpose of rendering assistance to farmers who, owing to the financial stringency, arc unable to find money to meet interest due on first mortgages, provided that tlie property is of a value above the accommodation sought?”" Sir Francis Bell replied : “Representations made to tlie Government on this subject have had careful consideration, hut it is not found possible to make tlie provision required. Tho necessities of owners of land owing moneys on second and third mortgages are even greater than tlio.se of persons liable under first mortgage. The question of security i« not so important as tlie question of relief, and the demands which would follow any initiation of such provision would lie beyond the possibilities of Government finance. The alternative of ininesing further restriteions on mortgagees iiad also had consideration, hut reasons against that alternative arc unassailable.”
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Hokitika Guardian, 17 January 1922, Page 3
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174Farmers Unable to Pay Interest on Mortgages. Hokitika Guardian, 17 January 1922, Page 3
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