The Rural Voice, 1983-08, Page 66FEDERATION OF AGRICULTURE
BOX 429 CLINTON, ONTARIO
TELEPHONE (519) 482-9642
NEWSLETTER
NOM 1L0
011les Hours
Mon. & Fri.
9.4
FCC role threatened
Here are some numbers I'd like you to
'phone. Read further and I'll tell you why.
Eugene Whelan 613-995-9133
Minister of Agriculture
Marc Lalonde 613-996-7861
Minister of Finance
Don Johnson 613-995-0284
Treasury Board
After a period of devastating interest
rates, farmers are seeking to re -finance
their operations and others are trying to
buy a farm for the first time. The federal
government indicated that the Farm
Credit Corporation could go to the private
money markets and there should be no
shortage of FCC funds. Farmers and FCC
staff proceeded to make applications and
then suddenly, with no notice, FCC is out
of funds. Its request to seek additional
private funds has not been "authorized"
by the finance ministry. FCC has no
money and all those farmers who have ap-
plications in the works are put on hold.
The Canadian Federation, the Ontario
Federation and the HCFA have all been
lobbying to get this situation resolved. A
KEEP THIS DATE OPEN!
Huron County Federation of Agriculture
REGIONAL MEETING
Thursday, September 8
Londesboro Public School
8:30 p.m.
HURON FEDERATION
July & August Office Hours
Open Every Friday 9 a.m. - 4 p.m.
(exception - July 1 - Canada Day)
Open Alternate Mondays 9 a.m. - 4 p.m.
Mondays open July 11, 25
August 8, 22.
PG. 64 THE RURAL VOICE, AUGUST 1983
the county level I have, on your behalf,
sent telegrams to the Minister of
Agriculture and the Minister of Finance. In
addition, in the past two weeks I have
been calling Guelph FCC and ministers'
offices in Ottawa on a regular basis ex-
plaining the situation as it is affecting
farmers locally.
It is clear to me that the role of FCC in
farm lending is seriously threatened. Ap-
parently the banks and private dealers
(who fear FCC, working with Canagrex,
will arrange sales of Canadian food in ex-
change for long term credit) have been
lobbying to reduce FCC's ability to pro-
vide funding to farmers. If FCC's funding
problems have not been resolved by the
time you get this newsletter, everyone
who wants to use FCC in the future or has
used it in the past needs to HELP with the
lobbying.
In addition to noting some of the in-
dividual problems caused by this situa-
tion, I have explained that FCC gets
repaid with interest for money loaned to
farmers. We are not asking for high risk
venture capital to develop airplanes. We
are asking for a long term investment In
the farm community which will be repaid.
If the government would accept the agri-
bond concept, the farm community could
internally finance it.
I have also pointed out that while parlia-
ment Is in summer recess and Ottawa
bureaucrats may be on summer holidays,
farmers are in their busiest season. They
are already overworked and overstressed.
To have their financial plans thrown into
limbo can be devastating.
If you feel the Farm Credit Corporation
has an important role to play in our farm
industry, please call some of the ministers
listed above and tell them what you think.
If the banks are lobbying against FCC,
farmers are going to have to speak out
themselves if they expect cabinet to hear
them.
Make them hear you NOW. Phone to-
day. Thanks.
Tony McQuail
President