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Hokitika Guardian, 24 May 1923, Page 1

‘AVitli the land hank in operation, the farmer would he aMe t" borrow money on his land, and when he got a little money in hand, he would ho aide to pay off a portion of In’s bonds. 1 nder the pro-0111 system, when a farmer has a mortgage on Ids property, he cannot, pay it off piecemeal, and his hand itches to invest the ret in ns from his produce. He either puts it into some eo-eperative concern, than which, in some cases, no investment is mere dangerous. or lie buys a new motor car and invests in some more land thereby increasing Ins indebtedness.” Air \V. J. Poison, in ids r.ddiess to Poverty Iby farmers on the agricultural hanks nclieme.

A gentleman intimately acquainted with farming matters conversing with an Eltham “Argus” representative on land values, spoke as follows: “Tim years ago people were unduly optimistic. They wore carried away by the high prices for dairy produce, and gave fictitious prices for land, with the result that many are in serious troubles. But to-dav many farmers are as unduly pessimistic as two years ago they were over optimistic. In my opinion things will rapidly right themselves, and farmers will regain confidence. There is an unwarranted attempt icing made to discount land values. Twelve months from now there will he a great improvement all ioi lid.”