If the agriculturist, in borrowing money
to secure his crop, has to encounter a higher rate of interest than the
grazier has to encounter, in consequence of the risk of damage to his
crops from an unfavourable season being greater than the same in the
case of the produce of the grazier, surely there is no reason why he
should be compelled to submit to a still greater increase of interest,
to compensate the capitalist for the additional risk of the borrower's
insolvency before the crops are realised, especially when the grazier
is, through the aid of "The lien on Wool Act" exempted from paying for
such risk.
The effects of the policy of the Government, which I have described, may
be found, on the one hand, in the fact that the number of persons who
have been bred to agricultural pursuits, at present residing in the
towns of the colony, is, beyond example, excessive, showing our social
conditions in that regard to be in a most unsatisfactory state; and, on
the other hand, in the other fact, that the wholesale price of flour in
the colony is three times higher, per pound, than the wholesale price of
animal food, of the very best description--a state of things not to be
found in any other civilized country.
Pages:
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353