AN ENTHUSIASTIC ADVOCATE.

Hokitika Guardian, 29 May 1926, Page 1

AN ENTHUSIASTIC ADVOCATE.

FARMERS’ INSURANCE AND BANKING. NAPIER. May 27. A striking piece of imagery, in which the whole body of insurance companies and banks, in their alleged discouragement of the establishment of farmers’ banks and insurance schemes, were described as loading potential rivals away from secret and coveted gold mines, was used by a member of the Hawke’s Bay Farmers’ Union at a meeting today. The companies were likened to a plover, Which under the pretended affliction of a broken wing, led too attentive people away from its nest eggThe speaker, in advocating the establishment of a farmers’ bank, insurance scheme and superannuation fund, added that the only reason that such a scheme met with opposition was that there was merit in it. Tf it were no good it would not he opposed, and that it was opposed was proof that it was likely to he a success. Assuming that a mortgagor had a mortgage of a thousand pounds, for which he was paying fi per cent interest, lie could get it under a co-operative scheme for 31- or 4 per cent, and would thus save about £2O a year. “Would it not pay.” asked the speaker, “to put that £2O into the funds of a farmers’ bank? If such a thing were established we would find that farmers, instead of being themost unimportant people in tlie country, would he recognised as what they are —men who are carrying tile whole country on their hacks. But we must combine. It is no good trying to do anything alone, it lias to be tried like any other machine. An agricultural bank would lie the salvation not of farmers individually or collectively, but of the whole community. In twenty years’ time farmers would he able to buy New Zealand and to pay cash for it. If we would co-operate we could control the finances of the whole Dominion if we wanted to. Every man has a right to assistance when he is, like the farmer, developing an industry that is of value to the country.”

Tlie subject brought forth keen and prolonged discussion, and was brought to a head by the passing of the following motion “ That it bo a recommendation from, this meeting of the Farmers’ Union Dominion Executive to appoint a committee consisting of Mr Barrel- and one representative from each province to consider the merits of a farmers' mutual life insurance scheme on the lines • suggested by Mr Bnrrer. and also the possibilities of working it in conjunction with cooperative banking,”