“BACKS TO THE WALL”

Sun (Auckland), Volume 1, Issue 109, 29 July 1927, Page 13

“BACKS TO THE WALL”

FARMERS’ PROTEST HIGH BANK INTEREST (Special to THE SUN.) WELLINGTON, Thursday. “This conference of the New Zealand Farmers’ Union protests against the Associated Banks increasing the rates on overdrafts and advances by h per cent., and considers the banks are taking an unjust advantage of the monopoly they hold, and claims that the Government should take action to protect the producers.” This Southland remit was carried at the Dominion conference of the New Zealand Farmers’ Union this evening. Similar remits were received from Southern Hawke’s Bay, Nelson, South Taranaki, South Canterbury and the combined conference. “It ought to go forth from the farmers of this country that their indignation is at its highest,” said the president, Mr. W. J. Poison. “There might have been some reason for putting up the rate on new overdrafts and new, deposits by l per cent., but there was no excuse for the banks putting on the screw on all overdrafts at a time when the farmers had their backs to the wall.” BUSH SICK LANDS “NOT PUBLIC CHARITY” Press Association. WELLINGTON, To-day. The problem of dealing with bushsick lands occupied the Farmers' Union conference to-day. The following motion was eventually passed:"That when Crown land has been settled, and it is found afterwards not to have been of sufficiently good quality to return a living under the conditions of settlement, the State should undertake such necessary rearrangements and readjustments as will enable settlers to obtain the necessaries of life without recourse to public charity.”