1 Juxy, 1901.] QUEENSLAND AGRICULTURAL JOURNAL. 35 
men with £18 capital was the origin of the system. We have heard a 
little about the Irish bank. It was started by Lord Ranfurly (1 am not quite 
sure of the name) on a co-operative basis. Paddy paid his penny into the 
bank, and from that bank he went to borrow the price of a pig to put into his 
sty. That is the way you can bring banking to be a success among small 
farmers. The State has introduced in the Repurchase of Lands Act a system 
of cheap money, and we know that this Act has done a vast amount of good. 
But it does not go far enough. TI find that those individuals who have taken 
advantage of the long terms and the low rates are unfortunately in possession 
of very little capital, and a system is now required by which small amounts can 
be borrowed, repayable when their crops come in, on very easy terms. I may 
say that I had several conversations with the late Mr. Chataway upon this 
subject, and went carefully into the West Australian system with him. I 
cannot say that I altogether agreed with this latter system, although it is a 
great idea, introduced into that State, as Mr. Moffat said, during the first year 
of its autonomy. But there are certain indications there of cases of funds 
being applied for or allotted which do not have the desired affect. When 
money is procured cheaply, or too cheaply, it is apt to be, as a rule, not so 
beneficial as it might be. Jf money had not been so cheap at the time of the 
£10,000,000 loan, a good many of our difticulties would not now be present. 
Money being so easily obtainable was the means of causing a great many people 
to suffer. With regard to farmers being in the hands of storekeepers, I may 
say that, finding the storekeeper had a grip on many of our farmers, our 
association got the South Brisbane Municipal Council to erect markets, so that 
we have now a farmers’ retail market there. It has been a great success, and 
now it has been proposed to duplicate it. It is only by organising and 
co-operating that the farmers will effect the many retorms needed by 
them. Let them have the co-operative banks that they have in England, where 
the people can borrow their own money at low rates of interest. I would 
suggest that the money in the Government Savings Bank be lent out to people 
at low rates. It is a source from which we could obtain money. 
The Hon. Angus Grrson (Bundaberg): Cheap money is what everybody 
wants, but an equally important question is how to use it when we get it. I was 
reminded, when Mr. Moffat was reading his paper, of astory. When the Reform 
Bill was being passed in 1832 for the betterment of the working classes in Great 
Britain, a committee was appointed to travel throughout the country with the 
view of finding out how the condition of the workers could be improved. They 
came to Kirkaldy, and the parish minister of the town was brought in to see if 
he could give any idea as how to work out the betterment of the town he lived 
in. In reply to their inquiries as to whether he did not think that shorter 
hours and more money for the people would be an improvement, he replied that 
doubtless it would, but that, if it were given, it would be his business to go to 
Heaven to pray to the Almighty to give them wisdom to use it. This 
question of cheap money was very much in the same category. When money 
is easily got it is Just as easily spent. After thirty years’ experience as a 
borrower and a lender, I have come to think that it is a great mistake to lend 
money easily, because you have a good chance of never getting it back again. 
The bill for cheapening money was passed in the Assembly last year, and was 
handed over to the Council for consideration. Some of us fogies there thought 
Queensland had sunk enough money already in similar schemes, a good deal of 
which might possibly never come back. Personally, I did not think—and I have 
not changed my mind—that this State should lend money. ‘There are stories 
told of New Zealand of how they would be glad to climb down if they had the 
opportunity. I have found that the more concessions you give the more you 
will have to give. I know men in Queensland who, instead of growing their 
own potatoes and maize, buy them from the grocer. We should endeavour to 
inculcate in our farmers the idea that they should grow everything in their 
gardens for their own wants, so that they would have to buy nothing outside 
