"BEST SINCE 1914."

Marlborough Express, Volume LXVIII, Issue 149, 26 June 1934, Page 8

"BEST SINCE 1914."

THE FARMERS' YEAR. STATEMENT CHALLENGED. The statement made by Mr L. R. C. Macfarlane, retiring president of the Royal Agricultural Society, "that for many this year has been the best since 1914," was criticised by Mr H. D. Aclaad, presideiu of the New Zealand Sheep Owners' Federation, and a producers' representatiye on the Meat Board, in a, statement issued on Saturday. Prices received this year for wiooi, meat, wheat, and butter did not bear out Mr Macfarlane's statement, he declared. In the remarks questi-oned, Mr Macfarlane had oongratulated iarmers on the almost record out'put, tooth in quantity and quality of production, and in the high working profits which had enabled most of the 1-osses of the last four years to be paid off. "The average price for wcol in, New Zealand this year in New Zealand currency is just about lld per lb, and in sterling it would be between 8d and 9d per lb," Mr A-cland said. "In 1924 the average price of woo-1 for the Dominion in sterling was 293d, and this year's average price was not up to any of the average prices received for the yeairs from 1924 to 1929 when the slump set in. "For the 20 weeks of this year, New Zealand lamb had average d 7§d on Smithfield. The . highest price for lamb frcm 1923 to 1930 on Smithfield was In 1925, when it averaged 11.83d, and the lowest price from 1923 to 1930 was in the latter year, when the average price was 8.77d." There was no need to mention any figures in regard to butter, as everybody was well a-cquainted with the desperate position of the dairy farmer, Mr A-cland said. The price fixed fof wheat this year was about 3s, whereas six -or seven years ago it ■had been as high :as 6s 6d downwairds. Hi-s c-wn experien-ce of sheep farmers' balance-sheets, of which he hA>l seep many, was that some had

not made sufficient to pay full interest' on the first mortgage this year; in other cases full interest and portion of the arrears had been paid, but he knew of no cases- where the arrears had been fully disposed of, except where these had been written off under the statutory powers vested in the Adjustment Oommission and the Supreme Oourt under the Mortgagors Relief Act. With sheep farmers, the rise in prices had improved their credit, but not their spending power, as any surplus was used in reduction of arrears o-f interest, or in reduction of the stoek firms' overdrafts. It was a pity that an errone-ous impression should be given as to the financiai position--of the primary pro-du-cers in New Zealand.