HC Deb 16 March 1931 vol 249 c1680W
Dr. PETERS

asked the Minister of Agriculture whether he is aware that banks are using the Agricultural Credits Act for the purpose of clearing off old overdrafts instead of providing new money for farmers; and what steps he proposes to provide that the intentions of the Government in introducing the Agricultural Credits Bill shall be given effect to?

Dr. ADDISON

I am aware that it has been stated that agricultural charges are being accepted by banks as security for existing overdrafts rather than for loans of fresh money, but I am not aware that the banks are using the powers conferred upon them by the Agricultural' Credits Act, 1928, otherwise than in accordance with the intentions of Parliament.