GOVERNMENT LOANS TO FARMERS.

Waikato Times, Volume XXVII, Issue 2190, 22 July 1886, Page 2

GOVERNMENT LOANS TO FARMERS.

Wk commend the following article, extracted from the Port Elizabeth Telegraph (South Africa) of the 17th June, to the attention of those who argue that the State should lend money to private individuals: —"One would have thought that the real, or supposed, interests of our farmer* had been .sufficiently looked after without the extraordinary 13 nghersdorp proposal that public money should be devoted to the p.iynient of their debts. Mr Venter calmly asked the House of Assembly to aifinn the principle that loins should be advanced to farmers at first mortgage by Government. Wh.it- ks the object of rhu proposal 7 Meiely that the public should t.ike over the debts which the tanner is at present unable or unwi ling to pay. Mr Hofiueyr made a semi-philo-opluc speech, in which the desire to hi paternal w.xa cuiiously blended with an e\ident anxiety to conciliate the farming vote in the Housp. The question ]|was " m >st important," though surrounded " with all manner of difficulties." We were not "without precedent* " el^cwheie. New Zealand had done "something of the kind,'' and in Ireland the Government had done ".something of the sort." Bit we aie glad to see that Mr Hofmeyr was candid enough and fair enough to face th>, true .state of thing-* and to show that Gi)\ ernuunt borrowing for such a purpose on a Luge .scale, and Go- \ eminent len ling on a latgi scile, would be the most f ital step which could powbly be taken in the interests of our eomnmnity. The initial step would dispirage our financial position in England. \Vlnt would be thought of a country which had to resort to wholesale borrowing for the purpose of repaying the lgnoiant fir extravagant expenditure of its faraiers? Suppose we took such a suicidal step, what would be the results as regards the Government and the people ? Take the case when the Government is a landlord. '■ In prosperous times people paid high rents, and in less prosperous tim »s they cnnift to Government, and asked to bs let off from those rents, and in many (uses the Government had to give way, and it might be jUt the same with the respect to interest. The taxpayer in general would have to suffer for it." Mr Merriman put the same truth very forcibly : "If there vras any man more hated than the landloid it was the usurer, and if the Government were to be placed in the position of combining the two, he did think that the affair* of the country would be in a very bad way indeed." "The whole object of the scheme was to release existing mortgages at 8 per cent., and put them into the hands of the Government, who would be a more lenient creditor." Really the only thing which would justify such a step aParliament was asked to take would be the absence of money in the countiy. But the fact is that there is plenty of money awaiting investment, but no decent security. Why should all of us, that is to say the Government, be compelled to take over the pecuniary liabilities of some of our members ? Surely every class in the community might then put in a claim for consideration. The holder of depreciated scrip might ask the Government to advance him a little money on easy terms. The commercial man with large stocks might invite Government to oblige him with temporary advances ; everyone would put in his little claim, and he who had most influence with the Government would obtain the most favourable terms. And it is just because the farmers think that they can get anything out of the present Government that they havo put forward their preposterous demand. As Mr Merriman remarked, "It would be just as hard to pay Government G per cent, as any other creditor, the only advantage being that Government would be more squeezable " We are glad that the common sense of the House was opposed to the assumption of such extraordinary duties by Government. Mr Merriman's return in reference to the lelative amounts of mortgage on town and country property respectively will be of valuable service for taxation purposes. No one believes that country propeity at present paysjany thing like its fair share of the public burdens. A comparative view of mortgages will certainly be an exceedingly useful piece of information.

Cavk Canem.— Aunt Matilda: 'Dear me that's my minister, the Tt-jv. Ananias Howler, knocking, and he does so dislike dog*.' Miss rrvttynerfc: * Never mind, auntie, I'll be »ff. Gaud bye !» Aunt M: ' Well, it you wouldn't mind. I hhiroldn't like Jiu<?<i to hi ta Mr Howler.' Miss P.: 1 Certainly not. He's a moht unwholesome looking n)ivn.' Hkad of Oliver Cromwell.— lt is well known that the body ot Oliver Cromwell was exhumed and bchea.led ; anil the head was afberu aids exposed on the top of Westminster Hall tor more than 20 years. It was blown down on astorny night, and was taken possession of by a soldier. Its subsequent fate is fully set out in a letter which appeared in the Times of Dec 31, 1874, with the signa ture " Senex." It came, it appears, into possession of a Mr Wilkinson, a medical man, "in whose family it still remains." Another letter, which ap peared in the Globe in September, 1874, states that the head "is now in the pos session of Mrs Horace Wilkinson, ot Sevenoaks, Kent."