asked the Minister for Finance whether his attention has been drawn to a report of an interview with officials of the Agricultural Credit Corporation published in the Irish Independent on the 31st ultimo, stating that only persons of such economic standing as would entitle them to expect credit from a bank are the persons who could expect a Corporation loan; and whether, in view of this statement, he will state what steps he proposes to take to expedite the granting of loans to farmers who are not of such “economic standing” as is indicated.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - AGRICULTURAL LOANS.
The answer to the first part of the question is in the affirmative. The Deputy will appreciate that considerations that must weigh with any body of persons engaged in the making of loans are the probability of success of the undertaking proposed and the security offered for repayment; the Government could not undertake to bring any pressure to bear on the Directors of the Corporation with a view to having these primary considerations waived. It is anticipated, however, that many farmers whose credit and economic standing would not, if taken by themselves, entitle them to borrow from the Corporation, will be assisted to obtain the funds they require through Agricultural Credit Societies. No time will be lost in pressing forward the formation and development of such credit societies in the Saorstát.