CHEAP MONEY.

Temuka Leader, Issue 1271, 29 November 1884, Page 2

CHEAP MONEY.

Since the above article was written the Lyttelton Times containing the following item of news came to hand : "At a meeting of farmers held at the Chertsey Hotel on Wednesday evening, the following resolution was carried s :— " That this meeting of farmers desires to thank Messrs Macandrew, Walker, and Gn'gg, M.H.R.'s, for the support given by them during the last session to the scheme for enabling landowners to borrow money at a low rate of interest ; and also wishes to congratulate Mr Newlyn upon the success that has so far attended his efforts, which have resulted in a Government promise to make fml enquiry into the practicability of starting a Land Bank ; in the carrying of a resolution of the House of Representatives, requesting the Government to prepare a Bill to enable loans for improvements to be advanced to farmers ; and. in the State sanction to the use of Government Insurance funds for mortgage purposes."

From this it will be seen that the Government have undertaken to make a full inquiry into the practicability of establishing a Land Bank, and also to enable loans being advanced to farmers. This gives us hope that something will ultimately be done, for no honest man can enquire into these matters without being convinced of the absolute necessity of relieving the farmers. There is one thing certain i the agitation will make money-lenders and monetary institutions more chary of charging exorbitant rates of interest in future, and if it does no more than bring usurers to their senses the country will be greatly benefited.