Government Need not Interfere

on behalf of farmers except by assisting them to get a Bill passed so that they may be able to combine successfully to help themselves; and I certainly do not advocatate that the Government should grant small loans to farmers, except to lift mortgages, because those who have their property mortgaged will not be able to offer adequate security, while those who are fortunate enough to be free can usually get sufficient credit without requiring a loan. In my opinion, you must strike at the root of the evil, and join together in raising the money necessary to pay off the mortgagees as their claims mature.

It might possibly happen that "cheap money" would drive out some very dear capital, in which case the grief of those benefited by the change would resemble in mildness that of the middle-aged Celestial, who saw signs of his mother's "breaking-up" in the lessening vigour of her whippings.

The Government can now borrow in England at 4 per cent, and I have no doubt that, for 1 per cent more the farming community could raise all the loans needed to gradually "lift" existing mortgages if the assistance of the New Zealand loan agents could be obtained.

You will naturally enough ask what position this would cause the Government to occupy to the