CORRESPONDENCE.

Taranaki Daily News, 25 September 1917, Page 6

CORRESPONDENCE.

FINANCIAL ASPECT OF FARMERS AFTER THE WAR. ffo the Editor. Sir,—lf e/er there »;; - time when the farmer! of this country ought to organise it is now. When the war is over there will be interest to he found by the people of this Dominion on probably one hundred million pounds, and practically, the greater part of that money will be either derived from the land or its produce. The various labor organisations by being organised and able to show a united front will prevent very little of the money being raised by taxing the necessities of life much more than they are at present, and they are already clamoring to tax the land to its fullest extent and also all companies, butter and cheese factories included. Surely after the iniquitous but-ter-tax of last year a repetition of these things ought not to be required to drive home to the farmers the necessity of being united. Then again there is the financial aspect in regard to farmers and farm mortgages to be considered. At present the Moratorium Act is protecting farmers with mortgages that are due and leaseholders with purchasing clauses on their holdings. That protection lasts until six months after the expiry of the war. Should the war go on, which it probably will, for another two years, over ninety per cent, of the present leases and mortgages will then be due. What will then be the position of the farmer with heavily mortgaged land or, leasehold land with compulsory purchasing clause attached when he has rpent all his money and labor on the Jt-nd and had things iiwm noTmal could have purchased his freehold by raising the money at 5 to G per cent.? The Government will have absorbed either voluntary or by compulsion ali the money available for investment to carry on the war. Any firms with money to invest through being forced to invest in the war loans will recoup themselves by advancing the rate of interest on freehold security. The auctioneering companies, ,on account of Ithe heavy taxes their companies will be forced to pay, will likewise have to increase the interest to all who seek accommodation from them. Although farmers have been prosperous for some years land which has been leased or bought on part mortgage on a five per cent, capital value basis cannot pay an additional two to five per cent, on its capital value. Then again it is proposed to give local bodies power to raise their loaus locally, which j will mean still further competition on the money market and there will be a I double tax on the land, as the rates will I have to be increased to meet the addi- | tional interest. I would again appeal to all farmers and landholders to rally I to their own unions in order that they | may speak with no uncertain voice when the war is over and taxation is ■ to be adjusted to meet our share of providing for our crippled soldiers and the l vast expenses incurred by the war, not j forgetting the adjustment of their mortgages on the land.—l am, etc.,

HARRY A. HUNT. Inanga, September 21, 1917. A CORRECTION. To the Editor. Sir,—l sec by the news that you have my son, Rifleman H. G. Remnant, in the severely wounded list as a Taranaki man. Would you kindly correct this error? All my three sons are Wanganui men, and enlisted from there. I would not trouble you, hut these reports are very misleading to friends. Probably it arose through my being in the Taranaki district for a time.—l am, etc., L. E. REMNANT. Cardiff, Sept. 22.