RURAL FINANCE

Hokitika Guardian, 27 October 1933, Page 6

RURAL FINANCE

FARMERS AND MORTGAGE RELIEF FARMERS’ UNION DISCUSSIONS. (Per Press Association — Copyright.) WELLINGTON, October 26. Questions of .rural finance, particularly as tq methods of relieving the present burden of the mortgagor, were -discussed by the Dominion executive at the meeting of the New Zealand Farmers’ Union to-day. A series of resolutions was c.r.'ied. The resolutions will be presented to Hon. kill.) Qobbe -by Mr Poison and Mr Waite. Tne following -three have been suggested ,as urgent amendments to the preseilt Acts, which should * be consolidated, and extended before the expiry of the present legislation on December 31. That, in order to make .possible an equitable pooling arrangement between the commissions and courts, a s to the power to all parties, the Ajbt be .amended to give the band-holders of -chattel securities, as well as land mortgagees and. mortgagors equal rights. That the Act be amended to ensure that when the icourt is disposed to vary materially the recommenda■tiocis made by the Adjustment Commission, no such material alteration, shall be made in the conditions on which relief is granted until the variations are referred ha,ck to the Adjustment Commission 'for a further report. - - , • ; That legislation be enacted enabling the various mortgagors’ relief- commissions to recommend reductions i ; n the principal vendor mortgages in .addition to -those of interest, when considered advisable and rcaso. iab!e. The remaining clauses deal mainly with the desire of the union to have some comprehensive scheme for the reconstruction period. The members 'of the executive .'believe th a t some constructive scheme is urgently required, as -many farmers are very .apprehensive as to. .what may happen when the present legislation ceases.