§ 48. Mr. T. Williamsasked the Minister of Agriculture the approximate indebtedness of British farmers to the joint stock banks and other credit institutions?
§ Mr. W. S. MorrisonAs the reply contains a number of figures I will, with the right hon. Member's permission, circulate it in the OFFICIAL REPORT.
§ Following is the reply:
§ The following table gives the indebtedness, at recent dates, of occupiers or owners of agricultural land in England and Wales to the bodies shown:
| £ | |
| Joint Stock Banks. | |
| Advances outstanding on dates between 3rd August, 1938, and 3rst November, 1938, to "agriculture and fishing" | 62,451,591 |
| Agricultural Mortgage Corporation, long term mortgage loans, secured by first charge on agricultural land, outstanding on 29th November, 1938 | 8,716,039 |
| Improvement loans, secured by rentcharges, outstanding on 29th November, 1938 | 88,386 |
| Lands Improvement Company. Improvement loans, secured by rentcharges, outstanding on 30th June, 1938 | 1,769,791 |
| Public Works Loan Board. Long term mortgage loans advanced under Agricultural Credits Act, 1923, outstanding on 31st March, 1938 | 2,112,604 |
§ In addition to the sums shown above credit is available to farmers and landowners from such sources as private mortgagees, merchants' and auctioneers' credit, etc. I have no figures of the volume of this credit, but I believe it to be very considerable.