HON. J. G. COATES

Hokitika Guardian, 29 June 1933, Page 6

HON. J. G. COATES

RECEIVES DEPUTATIONS

STATEMENT OF POSITION

(Per. Press Association —Copyright)

IIAW,ERA, June 29

Several proposals, designed to effect tile downward revision ol mortgage values were placed before Hon. J. GCo.ite,s at Rawera by a deputation of North Taranaki executive of the Farmers' Union.

M r Poison, Dominion President, said the .Mortgagor,s’ Relief Act was-merely a paliative. Its provisions did not go to the root of the turn bo.

Other speakers said the farmer to.day did not know where be was. There was a definite need to stabilise the position. 'Speakers appealed to the Government to take some action that would give (lie industry a fresh heart. M r Dickie ALP., who introduced the deputation, said he did not know why the Government should be asked fq set up a special committee to deal with the matter. The present Government was sympathetic towards the farmer. He was of the qpinion tlint the present mortgagor relief commissions operating in New Zealand were dealing adequately with the problem, and effecting adjustments satisfactorily to both mortgagors and If! T could not put up a better scheme than those •proposed hero to-day, I would go out o,f politics, declared Air Dickie. Replying, Mr Coatiy, assured the deputation that the advanced would be, studied and possible reactions ascertained. Other countries had followed practically the same Hues as the Government had taken in Now Zealand, to try to protect the good farmer from possible eviction. The policy of the Government would be definitely to protect the man who was doing his best. All we want is equality of justice, applied in the case of mortgagee,s ann mortgagor, rtid a- isimple procedure. The adjustment court makes this possible.” Mr Coates also referred to the saving of somc ! £10,000.000 which the Government had effected in two years in an endeavour to adjust, costs with prices. , ‘lt had meant that sacrifices had been borne by every section of the .community. The policy of the Government had been to reduce interest •charges and rates a policy which had been followed rigidly in all other parts of the Empire. The raising of exchange, raised the price of New Zealand primary and exportable commodities by 25 per cent, and lowered currency by 25 per cent, bringing c’osc-r together the margin of costs and prices. He pointed, out thatobsfore. the rise . in. exchange,' costs were 2-5 per cent, above pre-war. and prices 23.. per cent, below., •Referring to exportable produce, Mr Coates said the problem a- short while ago, was what to dp, with , the Now Zealand .(surplus. Although I cannot discuss the matter here or p'ace all the cards on the table at this juncture, I may Isay I am much happier now regarding that problem than before. If New Zealand ha,s to align herself with others in quantitive restrictions of exports I believe that the disposal of New Zealand’s surplus can be arranged satisfactorily.