FARMERS’ FINANCES

Hokitika Guardian, 29 February 1928, Page 1

FARMERS’ FINANCES

“NINETY PER CENT HEALTHY.” TE AWAMUTU, Feh. 25. “Ninety per cent of the farmers in tue country are in a strong and healthy financial position,” declared the Hon*A. W. McLeod, Minister of Lands, in an address here to-night. “The other ten per cent are struggling and in trouble. Some are in a hopeless position, .but others may fie assisted through.” Speaking of rural mortgages. Mr McLeod said that a great proportion of them were lieing placed upon a fairly sound basis by adjustments of all kinds and by advances made by the Government and other lending institntutions, and that with reasonable stability in produce values for some years the position would he satisfactory. As for the others, if the mortgage stood firm in exercising his undoubted rights and refused to make a concession. only- one of two courses were for the others, if the mortgagee stood close or nth at some form of rural hank find the money lor Hie purchase of the mortgage lor which reasonable senility did not exist. To assist such cases the Government maintained for years a moratorium to the mejudice of many housnnds who wished to borrow and had ample security. There were few people wlio would subscribe to a suggestion that Parliament should pass a law breaking a legal and binding contract without the consent of the parties thereto.