The Hokitika Guardian THURSDAY, JUNE 20th, 1922. THE OPENING OF PARLIAMENT.

Hokitika Guardian, 29 June 1922, Page 2

The Hokitika Guardian THURSDAY, JUNE 20th, 1922. THE OPENING OF PARLIAMENT.

Parliament opened yesterday with the usual forms customary to the occasion. The central feature was the GovernorGeneral’s Speech, and that too was in the usual form. It was vary colourless, if w e except the ancient history recorded of events well known to the average reader. The Speech predicts a short session which suggests a minimum of legislation—iv not unmixed evil. There is the promise of attention to finance—the pressing question of the hour; also the promise of several consolidating measures. The Speech is n* least definite on thp propose) to start \

agricultural hanks. This subject was reviewed very clearly by the Chairman of the Bank of New Zealand, less than it fortnight ago, when he said that the question of instituting agricultural hanks in New Zealand is being discussed at the present time. That such institutions supplied a much-needed want in .Europe, where they were first started about the middle of last century, is evidenced by the success they, have met ‘ with. But that they would be as successful in New Zealand is doubtful, for conditions here are entirely different from those obtaining in Europe. Tn addition to i'no Advnnee s to Settlers Department of our Government, which has lent many millions on farming properties. there are in this country a number of co-operative farmers’ associations. mainly, if not entirely, owned and controlled bv farmers. These associations are widely represented throughout the Dominion, and one of their principal objects is to make advances against live stock, wool, grain, and other products of the land. In addition there are large proprietary concerns doing a similar class of business, to say nothing of the ordinary banks, which have, to a very large extent indeed, extended credits to pastoralists and agriculturists. Under normal conditions, therefore, the needs of the farming community are adequately pro. vided for by existing organisations. Doubtless an attempt would be made t< get the Government to guarantee tVe agricultural banks. Such a guarantee would, it is to be feared, involve the Government iii loss, for it would take awav the personal responsibility, the strict control and close supervision that are necessary to ensure success in any such undertaking. So long, however, ns farmers are prepared to shoulder tin. full responsibility, there is not the slightest reason why they should not try the experiment of an agricultural hank. That seems to put the position very fairly at a time when New Zealand must look mainly to the national credit, which it is so necessary to main tain without entanglement-. The Mercantile Gazette, ajso commenting recently on the subject of agricultural or rural batiks, said there was not the slightest reason why the farmers should not try the experiment of an Agricultural Rank. But accepting the whole re. sponsibility is the last thing farmers contemplate. The farmers prefer, said the financial journal, to sponge on the Government, and the Prime Minister has encouraged them to become spongers. The question of Agricultural Banks is to he discussed by Parliament, hut any suggestion of a Government guarantee is certain to be re-, jet-ted. The Government guaranteed the wheat farmersj and the taxpayers will be saddled with it heavy loss. What aj pears to he necessary at this time of day is some propaganda to.educate the people into an appreciation of tho paralysing effects,of Government interlerettce with trade, commerce and industry. A number of men -picked up at random and labelled Ministers of the Crown, whatever tht-ir individual merits may he, have not the qualifications for handling such matters. This trenchant criticism of the proposal will torm the keynote to a general traversing of the move by the Government solely in the interests of the farmers, and the Government will have to move wanly in formulating the measure, ,

well organised opposition will assert itsoll, and the Government will find breakers ahead. The Speech speaks optimistically of the outlook for the country, and no doubt with reorganised finance, reduced taxation and • more genuine self reliance, the Dominion will make as good a record as any count)y in the Empire for sound and reasonable progress.