§ 77. Sir A. HOLBROOKasked the Minister of Agriculture how many applications for improvement loans have been received by the Agricultural Mortgage Corporation and for what amount; and how many applications, and for what amount, were received in 1928 by the Lands Improvement Company?
§ Captain BOWYERLoans under the Improvement of Land Acts require the sanction of the Ministry of Agriculture. The number of applications for such sanction received in 1928 from the Land Improvement Company was 485, the sums involved amounting to £227,548. One application has so far been received from the Agricultural Mortgage Corporation, the amount applied for being £915. My right hon. Friend has no information as to the applications received by either of these bodies unless they are subsequently forwarded to the Ministry.
§ 79. Major Sir ARCHIBALD SINCLAIRasked the Minister of Agriculture whether he is aware that the Land Mortgage Corporation, established under 555 the Agricultural Credits Act, 1928, are only accepting advances through a bank, and only upon the condition that such banks hold shares in the corporation; that applications from farmers for such advances are now being refused by Barclays Bank on the grounds that applicants are not customers of the bank; and what steps he proposes to take to meet this situation?
§ Captain BOWYERIt is an essential part of the scheme that applications must be put forward through shareholding banks, which include all the more important banks, except the Midland Bank. My right hon. Friend cannot intervene between bankers and their clients in individual cases; but having regard to the numerous branches of the shareholding banks throughout the country my right hon. Friend sees no reason to think that suitable applicants will encounter any difficulty.
§ Sir A. SINCLAIRIs it not a fact that applicants who are customers of the Midland Bank, which is the largest bank in the country, have experienced this difficulty; did not Parliament vote this public money for the sake of tenant farmers, so that they could have, irrespective of their bank, the facilities under this Act; and will the hon. and gallant Gentleman represent to the Government that no farmers should be debarred from enjoying the benefits of this Act merely because they are customers of a particular bank?
§ Captain BOWYERI understand that the banks do not ask for the removal of the whole account, but only for the removal of part of the account, in many cases, and my right hon. Friend is not prepared to come between the bankers and their clients in this matter, at any rate at present.
§ Captain GARRO-JONESCan the hon. and gallant Gentleman tell the House why the Midland Bank refuses to fall in with this national effort to help agriculture?
§ Mr. SPEAKERThe question on the Paper only asks about Barclay's Bank.
§ Mr. MORRISIn view of the answer given, does not the attitude which the hon. and gallant Gentleman adopts have the effect of discriminating between one bank and another?
§ Mr. SKELTONIs it not the case that the part of this account required to be transferred is only sufficient to cover the interest of the loans?