January 29, 1914 (12th Parliament, 3rd Session)

Mr. BORDEN:

I will bring the hon. gentleman's question to, the attention of the Minister of Militia.
In spite of the fact that the yield was large and the marketing quickly accomplished the position of the average Saskatchewan producer cannot be said to be satisfactory. The best that Saskatchewan people can hope for is that the returns from the harvest of the year will be sufficient to pay the interest on outstanding obligations. The probability is that even this cannot be done, and that additional money will be borrowed to pay a portion of the interest charges.
One more paragraph only I will read:
No Saskatchewan farmer can borrow money to-day under 9 per cent.
No wonder he is asking for free wheat.
To secure this rate he must be able to give a first mortgage on his improved land. If he requires additional money he must pay from 10 per cent per annum to one or two per cent per month. It is no exaggeration to say that there are thousands of Saskatchewan farmers whose entire output for the future time will be completely absorbed by the payment of interest charges and who will inevitably in the course of time lose their holdings.
This reflects the state of affairs in my own neighbourhood. A short time before I came here a man in a position to know told me that unless there was a most miraculous change within a short time, what Mr. Partridge said is likely to take place in Saskat-
LMr. Molloy.]