PLIGHT OF FARMERS

Hokitika Guardian, 28 February 1931, Page 3

PLIGHT OF FARMERS

CAPITAL AND LABOUR FIGHT. GISBORNE. February 25. While capital and labour foglii. t,h farmer, who acted as a buttress lietween the two, received all tlm i/.ovand t,h<> two combatants came off unscathed. Ibis was the manner in which Mr F. S. Bowen, president ol the Fanners’ Union, described the ■iresviit financial position of the country. Air Bowen said they had to congratulate Air Forbes on his courageous policy, which, however, had not gone ,ar enough in regard to the control ol the price of produce. The cause ol the present depression was the low prices of farm produce. The speaker pointed out that farm mortgages amounted to LDD.t/O QOO ), with £55,000,000 in overdrafts. If interest came down one per cent, on this what a great difference it would mean to the B'Oiuinuin. The light today was between capital ami labour with capital having the upper hand. ■ However, neither was hurt a great deal for they fought with the larnmr in between. The fanner got scratched to pieces and the other two .came oil unscathed. The capitalist lived on his interest and labour received the dole. If farmers were sold up to-day * !) per cent, of them, Air Bowen declared, would lie bankrupt. The farming community must he placed on a hotter footing hv the reduction of interest rates and, of course, reductions in labour cost, and Customs duties. Otherwise fanners would have to walk oil their farms.