AGRICULTURAL BANK.

Otaki Mail, 11 July 1923, Page 3

AGRICULTURAL BANK.

Mr. \\\ li. Field, M.P., has asked the Minister of Finance: —‘ • Whether the Government lia* yet investigated j tlie scheme for agricultural banking in I this country as xet out in a draft Gill circulated by the president of the Mew Zealand Fanners’ Union; and if not, whether they will do so without delay ' {-). Whether the Government will take steps, so far as is possible, to at once relieve farmers in this Dominion, particularly those whose financial wants are beyond the scope of the Slate Advances Office, from the difficulties they are now labouring under by reason of their not being able to obtain sufficient advances on their properties, up to a fair margin at a reasonable rate of interest. to enable them to hold and operate their farms successfully’” | Note. —Is is understood that some leading institution's will not advance more than 50 per cent, on a basis of valuation in excess of £od per" acre. • r in some eases even less, which is far below the true value of rich dairying land, and there are farmers to-day being forced to leave their farms because they are unable to secure reasonable advances.] The High! IJoa. Hr. Massey (Hinis"r of Finance) replied—(l). ‘‘Tins matter is receiving tlie attention of the | Government. (-). i.cgislamm will be introduced to widen the scope of the State Advance. Act with a view to meeting the iinaneal wants of farm*x*-” fi.V A