HomeMy WebLinkAboutThe Exeter Times-Advocate, 1976-07-22, Page 14ASSOCIATE MINISTER ATTENDS — One of the visitors at Friday's media clay at Stewart's Seeds at Ailsa
Craig was Gordon Bennett, Ontario's Associate Minister of Agriculture. Bennett was Huron's Ag Rep some
years ago. From the left are Byron Beeler, general manager of Stewart Seeds, Gordon and Pearl Bennett
and Catherine Beeler. T-A photp.
Bill Stewart's
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BUILDING CENTRE
Page 14 Times-Advocate, July 22, 1976
In welcoming guests to the
annual media day at Stewart
Seeds, Friday, general manager
Byron I3eeler talked, about food
production,
He continued "So much has
been said about the world food
crisis — indeed, much has been
said indicating that current food
shortages are only temporary.
How does the consumer decide
who should be believed? 1-low
does the food producer plan his
programs to maximize his in-
vestment in farming? Boom
years have a short cycle in
Agriculture and they soon turn to
Media day at Stewart seeds
The Federal Government's
anti-inflation program, coupled
with the realization of sound
Protect
growers
The Ontario Financial
Protection Task Force has asked
food producer groups arid in-
dividual farmers for recom-
mendations, on ways to provide
protection against payment
default by buyers.
The task force said it should be
notified of a person's intent to
submit a brief by July 31; the
actual brief must be submitted by
September 1.
The task force said agricultural
organizations and individuals
wishing to submit briefs should
include the following in-
formation:
A description of payments
defaults by buyers of farm
products in the previous five
yeers;
Names of producers who have
suffered serious financial loss as
a result of payment default by
buyers of farm products;
Proposals which would protect
producers against payment
default in the future.
Chairman of the task force is
Morris Huff, vice-chairman of
the Ontario Food Council.
thinking Canadians that inflation
has to be beaten, seems to be
working. At least price increases
aren't as high as they were a
year ago and, in fact, in some
cases certain commodities are
less in price — baler twine, for
example.
The cost of money, however,
remains high. Interest rates in
Canada are at least 3%, and in
many cases more than that,
higher than in the U.S.A. This
puts Canadian businessmen, be
they farmers, manufacturers,
commercial distributors or ex-
porters at a distinct disadvan-
tage.
The Toronto Star's lead
editorial in the May 25, 1976 issue
called on the Federal Govern-
ment "to lift the heavy anchor of
high interest rates". The
editorial goes on to state,
"Current interest rates, the
highest in the industrialized
world, are simply an unjustified
drag on an economy that is only
now beginning to drag itself
slowly out of the morass of
recession."
Such high interest rates as
Canadians are paying simply dis-
courage business from making
the capital investments
necessary to create job oppor-
tunities. With Canada's inflation
rate still at approximately 9%
and with the reported highest un-
employment in 15 years, it would
appear that the Bank of Canada,
controlled as it is by the Federal
Government, is not on the right
track by creating and main-
taining the current tight money
supply.
There are those who claim that
lower, more competitive interest
rates with other countries, would
contribute to greater inflation,
simply by more dollars chasing
available consumer goods,
thereby driving up the price.
Such logic might have been
justified prior to the establish-
ment of the Government's Anti-
Inflation Board program, which
limits cost increases.
If lower interest rates
generated such a demand for the
limited supply of money made
available by the Bank of Canada
as a further brake on inflation,
all the Federal Government
would have to do is require a
larger percentage of down-
payment on consumer goods.
One has to wonder if the
Federal Government is really
serious about controlling infla-
tion with its own expenditures
still running around 16% greater
than last year. There is no magic
in Government — the only source
of revenue comes from the
pockets of Canadian citizens or
those doing business in Canada.
High interest rates are only of
benefit to those who have savings
to invest. But mostly everything
those same people have to buy in
order to live and keep a roof over
their head, is made more costly
by interest rates that add costs
to the necessities of life, because
business operates on borrowed
funds, generally speaking.
For anyone who wants a job it
must be a terrible feeling to be
unemployed — with no revenue
coming in except through un-
employment insurance or
welfare. There are many who
believe that Canada's Federal
Government should instruct the
Bank of Canada — which con-
trols interest rates — to reduce
the rates gradually if necessary,
but substantially, to the place
where business can again borrow
money at rates which will" en-
courage job development for the
800,000 Canadians reported to be
out of work.
Various estimates have been
placed on the amount of credit
required by Canadian farmers,
ranging from six billion to eight
billion dollars. Chartered banks
are reported to be supplying ap-
proximately two-thirds of such
credit. The balance comes front
Government long-term loans
through mortgages or
guaranteed loans and, of course,
finance companies also supply
farm credit by financing equip-
ment and farm supply
purchases.
Any farmer requiring credit,
and most do, should explore
every source of credit in order to
learn the terms and conditions of
the loan required. Most of the
chartered banks now have
agricultural departments who
are more than anxious to assist
farmers and agri-business in
financing their businesses —
because farming is a business.
From personal experience I
always felt that it was useful and
beneficial to me to discuss
proposed projects, and their
financing, with the local
Agricultural representative's of-
fice.
Often helpful advice was
available for the asking on
engineering, drainage, buildings,
land acquisition, livestock or
poultry feed, soil testing, crops,
government grants or loans, No
one need feel obligated to use the
advice offered but, again from
personal experience, I have
found that when the advice given
was used effectively, and with
common sense, it usually worked
out to the benefit of Our farming
business.
The OMAF extension branch
personnel in Ontario's offices are
there to help farmers help
themselves. They are more than
willing to give farmers the
benefit of their advice, gained
from their formal training and
practical experience.
A great many urban con-
sumers are also using the advice
available from the Home
Economists, located in the
Agricultural Representative's
offices in each County and
District in Ontario, on garden-
ing, home canning and freezing
of fruits and Vegetables, as well
as obtaining information on food
nutrition, as well as clothing for
the family,
I I I I I I I I I I I I I 1 1 I I I I I I I I 1 I I OIS 1 I I I M I I I I I I I I I i I I I I I I I I I I I I I I I I M I I I I I I I I I 1 I I Ma p
AVAILABLE Al
COUNTRY CORNER
Mt CARMEL, — 237-3456
OPEN TILL 10 P.M.
A 8
programs from time to time. Our
research people are keenly
aware of the market place.
Highlights of the research
programs appear elsewhere in
this booklet.
On the marketing side, our
sales of hybrid corn continue to
increase in Canada and in export
markets, The cereal grain
programs expanded
dramatically this year. The
'Laurier Barley Story' is
amazing in its own right,
less rosy conditions. challenging — because our
A year ago, at this same event, research has to pay off in sales.
our assessment of the in a business like Stewart Seeds,
Agricultural situation was that
their expansion plans and in the the marketing-sales arm of the
food producers should slow up in
capital purchases as we believed
the boom was over. In the main,
that assessment has been.ac-
curate ---but given all the
variables involved in assessing
the world food situation, our odds
of being correct were probably no
better than 50 percent.
Planning research programs in
the midst of so much conflicting
information becomes more
m companymust call the shots on
research --not the reverse.
Regardless of how good a product
may be, if it doesn't sell, it is of no
value to anyone,
A major strength of our
research programs here is that
Our entire research team is
closely associated with the sales
force — indeed, the research
team works on the sales
We Are Pleased to Announce
the Opening of a New
Veterinary Practice for
Swine Only
Dr. Andrew G. Manson
B.V.M,S. M.R.C.V.S.
Dr. Margaret C. Manson
B.V.M.S, M.R.C.V.S.
169 Bexhill Dr.,
London, Ont,
N6E 2G5
Bus. 686-4010
Res. 681-3089