A LAND BANK
HELP FOR THE FARMERS.
in ceil Press Association ll> LlecUi •.Hiegraph— Copyright j
CAPETOWN, November 14
Cabinet has obtained Premier Hert 'zog’-s approval to place £1,150.000 at the disposal of the Land Bank, of which thi'ce quarters of a million is allocated to loans to farmers! A quarter of a .million is voted to agricultural credit- societies and the' balance is ■credited ' to small stock bonds., Loans are not • gfantefd to absentee farmers but' given 'to- flirmerV' who are distressed oHvihg to-'the falling prices of products. ’ : i ..
The "baiilc'-•is extending the repayments of - fencing . and clipping loans from twelve to twenty years, and reducing interest bonds from twelve to twenty years, and reducing interest on bonds from six to five and a-half per cent.
The minister of Justice announces the Government will not declare a moratorium because when the period ended the whole nation might collapse. The concessions are the Government’s reply to General Smuts’s repeated criticism that jt is giving no effective help to the farmers.
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Hokitika Guardian, 17 November 1930, Page 3
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170A LAND BANK Hokitika Guardian, 17 November 1930, Page 3
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