WELLINGTON TOPICS.

Hokitika Guardian, 16 March 1923, Page 3

WELLINGTON TOPICS.

THE AGRICULTURAL BANK, i ITS PLACE IN AAIERICA. j SPECIAL TO GUARDIAN. WELLINGTON, Alarch 14 An inquiry at the American Consulate here to-day unearthed quite a wealth of information concerning the purposes and operations of the Federal Land Banks of the United Stales which have been so often quoted by Air W. J. Poison and other prominent members of the Farmers’ l uion in their campaign for the establishment of similar institutions in New Zealand. The information shows clearly enough , that the Federal Land Banks have done very excellent work since they ; were established in 1916 in the itileri ests of the rural industries and that j their popularity is spreading througli- | out the whole of the States. Their net mortgage loans at the end of their last financial year amounted to rather more i than 9150,000,(100. and the undivided ! profits for the twelve months reached just upon 21,000,000, bringing up their reserve to close upon 22,000,000. But . these Federal Land Banks are not pro- : muted and managed hv a company of ! farmers with no particular acquaiiu- : mice with the intricacies ol finance, as Mr Poison's hanks would he. They are under the control ol a I'ederal harm Loan Board, which consists ol the i Secretary of the Trea-tiry, its Chairt man, am! lour experts nominated hv tin? President. Here, of course, is the dill'crenee, which induces Air Massey to ■ approve ol the principle ol farmers’ banks, but to look with some trepidation upon 1 lie proposal to commit the I I .1 .. I ollci l,llv Ilf 111

banks themselves to the custody ol inexperienced laymen. A STRENUOUS CAMPAIGN. Judging from the reports that are coming in from the ’iattranga decimate, the Reformers there are leaving no stone unturned in their eflorls to retain the seat for their party. Mr Alac.M illan, the Reform candidate,Js not being left to his own devices. The Prime Minister who knows the game of polities even better than Air Seddoti did. is on hand ready with his sage ad vice and discreet direction; the Minister of Public Works is in ll;e thick ol the light with his charming manner and cheery optimism, and every other

member of the Cabinet .stands al attention, booted and spurred, ready to plunge into the Irav at the slightest bidding. It* seems to he pari of the tactics of the defenders to bruit it abroad that defeat in this encounter would mean the retirement ol the Reform Government. "This election. Mr Alac.M illan told his audience tl:e other night, "is not merely to decide the representation of the constituency. It is to decide, the late of the Massey .Ministry.” The weight of well informed opinion here does not subscribe to this conclusion. Even assuming Fir Joseph Ward were elected and took hi-' place with the Liberals, the Government's position would lie no more insecure than it appeared to he immediately after the general election. SINGLE HANDED. Sir Joseph Ward, who is not nearly so good a tactician as Mr Massey, seems, trom all accounts, to he bent upon lighting the bailie single-handed. He lias had oilers of assistance from his old colleagues and associates, but has preferred leaving the choice to the electors of the district without any int ervent ion from outside. One matter has been dr-e.- ed into the contest, however, which seems to concern otliet people than hiim-Ml' ami "liifh may lead to other pretest- than bis own. •'AI the moment of it- greatest trial." M r Mm-M illan declared at his meeting on Monday night, “the Liberal member- of the National Cabinet, broke away, and not only refused to assist the Government in the task- ol poslsar reeon-t motion, but actually (ought •: at everv point ami made it - difficulties hinder -GIL" The retort came mptly. “Fume attempt was made io circulate this story during the gen- , ]-;-1 election campaign.” said one ot the politicians eoneej-ned when his attention was called to the summary of Mr MacMillan's remarks, "lint the facts w-re too well known for it to make any progress then, and it is a poor compliment io the electors ot laurnrga to revise it now. Everyone ought, to know it was impossible foi i-ir Joseph Ward to remain in Ihe Cabinet ill the cireum-lauces that presented themselves then.” GI T FOR KEEPS. A report to tho olloct that tlnoe can arrangement between Mr Massey and Sir Joseph Ward by which the return ol the ex-l.iberal leader Will ne made easy. in order that he may pioneer the way toward- the "in-iun. the Reformers desire, is being imlustriuiisli circulated. How little giotiud there is for such a story may be judged from the vigor the lioiorm papers are imparting into the contest. •Sir Joseph Ward is unquestionably assured ol a clattering welcome at* Tauranga on Thursday night,” says the "Dominion’s” representative tlnmorning. "The return of a veteran to any arena of conflict always appeals to a sporting race, and on that score ; I me the former Liberal Prune Almtsier will he very cordially received. Vet hundreds who will cheer his hist appearance as a parliamentary camtidate for r district, that i- as b,reign ground to him will in 'l'"' tune <’ aoaiiist him with pleasure and g';Oiiv.Tll." At this distance it is impossible to sav how much of this i- true, bill ,|„es not read like the utterance oi ;* person who thought the ro.d.st s',am light.