36 QUEENSLAND AGRICULTURAL JOURNAL. [1 Jury, 1901, 
save clothing and the few things outside their own industry. The farm ough; 
to give every man nearly everything he wants, yet you will see many a farme; 
in Queensland without a potato, without a pig, or without even a cow. 
Mr. J. E. Dean (Maryborough): When I first came to Maryborough J say 
a nice, benevolent-looking gentleman riding in his buggy, and on inquiring whe 
it was, was informed that it was “ Mr. Fifteen per Cent.’ This gentleman at thag 
time earned a very profitable income by lending money to farmers at 15 per cent. 
—hence his name; but he now complains that he cannot obtain more than g_ 
which he considers very low. In fact, he is getting out of employment. 
Necessity at one time caused me to borrow money. I had to pay 12 per cent,. 
and T had a hard struggle to redeem myself. There is a danger in cheap money. 
You perhaps try to borrow too much, and then, again, you may be less carefyy 
in your disposal of it. It has been said that if we are able to borrow cheap money | 
it is possible it will induce a larger population, That, in my opinion, would 
hardly be fair when we consider those who have to carry on in the country 
while under the hands of the financial institutions and money-lenders. These 
men have to pay 6, 7, and 8 per cent. It is hardly fair to establish in competi- 
tion with them, men who would only have to pay 4 per cent. It would accord. — 
ingly be necessary to lend money to those who are already so deeply in debt. 
Looking at the matter from all sides, it is very difficult to see how the problem 
is to be worked out, and, personally, I do not see how the Government is goin g 
to take it in hand. It is said that in England there are £500,000,000 lying in 
the banks, and that the greater part of it is not returning any interest at all— 
a serious matter when looked at in the light of social economy. 
Mr. Lesuie G. Corrie (Brisbane): Iam glad Mr. Moffat has entitled 
his paper cheap money rather than State aid. Farmers should not require that, 
and I do not believe that they do require a great amount of assistance from 
the Government. As one who has had something to do with the lending of 
money—not lending my own money, but through my profession as a valuator—T 
know itis extremely difficult to obtain money on farming lands. It is a fact 
that in all industries money has sometimes to be raised, and it is very hard if 
any section of the community is at a less advantageous position than any other 
section in this connection. My experience has shown that this is true of the 
farming community. It is for the same reasons as those referred to by Mr. 
Burgess in his remarks on organisation. His land is difficult of access, and 
those who haye the money are loath to lend it on properties which they are 
unable to inspect. They consider, too, that farms if not properly looked after 
are apt to considerably depreciate in value. A person with money is far more 
willing to lend money on a piece of land in Queen street than on a piece of 
property a long distance away. Seeing the success that has attended. 
this question when tackled by the State in other parts of the world, 
I am satisfied that something can be done on thoroughly business lines 
to assist the farmer. It seems it can be quite as much a business matter 
as the conduct of our Savings Bank. I should be against making the 
money especially easy—that 1s, to be got without the Government being 
thoroughly protected. It seems that the system should be established upon 
thoroughly good business lines—not for the purpose of giving the farmer 
special facilities for borrowing, but to enable him to get money on reasonable 
terms and at perfect security to the State. Not only is some system worth a 
trial, but the introduction of one is a necessity. 
Mr. C. Arrnow (Brisbane): I have been in business for a number of 
years, and, as a business man, can speak with some authority on this subject, 
which has agitated my mind for a number of years. Not only that; I was on the 
land, and well know how vital this subject is to agriculturists. As for Mr. Peek’s 
agricultural bank, I am sorry that I am not very confident about its ultimate 
success, the main difficulty being that you cannot get farmers to agree together 
sufficiently. The Government look after our money in the Savings Bank, and 
surely they can lend it out to those who will make good use of it. That, I 
