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The New Zealand Railways Magazine, Volume 3, Issue 9 (January 1, 1929)

A Ladder up the Mortgage

A Ladder up the Mortgage.

That advice is being heeded by very many mortgagors. As long as there is a top-dressing margin of credit after the interest is paid, the owner of high-priced land may yet be able to get on speaking terms with his capital account. And some day even the railways may do the same, for their wagon is inevitably hitched, for weal or woe, to the cow and the sheep.

Another “super” maxim is, “Delay with top-dressing is the thief of profit.” On the other hand, “top-dressing your land will top-dress your family.” But this observation seems to go hardly deep enough.

Particulars are given of hugely increased returns from the use of lime and phosphates. These details cover all the classes of farming, and constitute valuable information. In fact, the pamphlet is Sterling value all through.

In a forenote the General Manager explains: “This little publication, which gives big proof of the profit assured by a proper top-dressing of land is not, of course, an indication that the Railway Department is taking over a function of the Department of Agriculture. It is merely a friendly serviceable reminder to the farmer that he will benefit himself as well as the country as a whole by taking advantage of the helpful information and advice given free by the State's agricultural experts. It is well-known that the main basis of New Zealand's prosperity may be stated in one phrase—grass-land farming. In the aggregate of 18,830,000 acres under cultivation last year, pastures comprised 16,680,000 acres (nearly 90 per cent. of the total). Live stock provide, on the average, about 95 per cent. of the Dominion's exports. …