asked the Minister for Finance (a) whether he is aware of the problem consisting in the widespread indebtedness of the farmers to banks to an extent beyond apparent hope of repayment; (b) whether all such debts must be dealt with by individual adjustment; (c) whether Government action is contemplated or has been considered; and (d) whether due note has been taken of the policy for re-financing farm mortgages at a lower rate of interest lately adopted in the United States of America.
Ceisteanna—Questions. Oral Answers. - Farmers' Indebtedness to Banks.
(a) I am aware of the problem of the indebtedness of farmers to the banks but not to the extent indicated by the Deputy; (b) the banks are independent institutions and it is considered that debts due to the banks will have to be dealt with by individual adjustment, especially having regard to the fact that the circumstances of individual debtors very in almost every case; (c) the Government policy towards agriculture has been and will continue to be such as will put farmers in a position to enable them to pay their debts: land purchase annuities have been halved, tillage is being encouraged and the creamery and other agricultural industries have received generous assistance; (d) due note has been taken of the policy for re-financing farm mortgages at a lower rate of interest lately adopted in the United States of America, but conditions there are very different from those existing here.
Arising out of the Minister's reply, is he aware that an organisation called the United Farmers' Association, which is closely associated with the Fianna Fáil Party, and of which many Fianna Fáil Deputies are members, is preaching round the country that these debts owing by farmers to the banks are not morally due. In view of the Minister's answer will he take such disciplinary steps as may be necessary with regard to members of the Fianna Fáil Party to secure that they shall cease to belong to this association.
I am not aware of any of the circumstances referred to by the Deputy.