asked the Minister for Finance whether it is his intention to take steps to alleviate in some way the position of numerous farmers who are seriously indebted to the banks owing to the action of the banking policy of deflation commenced in 1921, other than by the provisions of the Land Act, 1927, or by loans from the Agricultural Credit Corporation, which are only applicable to a small number of cases.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - FARMERS AND DEFLATION.
I am satisfied that the only practical method of affording financial assistance to farmers who are indebted to the banks is through the medium of the Agricultural Credit Corporation, and I cannot accept the statement of the Deputy that the method is applicable only to a small number of cases. The Corporation have power to make a loan to any farmer for the purpose of paying off a loan originally made to him either for the purchase of land or for any purpose for which the Corporation may now lend, and the Corporation are prepared to give the most favourable consideration possible to all applicants.
Arising out of that question, I want to ask the Minister whether it is a fact that the State intervenes as arbitrator between groups of citizens, for instance, between landlord and tenant and between capital and labour, and would the Minister not consider it advisable that the State should intervene between these particular groups of farmers and the banks. These farmers are much more numerous in the Midlands, at any rate, than he believes.
No. I would not consider it desirable that the State should intervene.