HEALTHIER FINANCE.

Auckland Star, Volume LIX, Issue 222, 19 September 1928, Page 15

HEALTHIER FINANCE.

SOLDIER SETTLEMENT. MORTGAGES AND DEBTS DISCOUNTED. (By Telegraph.—Parliamentary Reporter.) WELLINGTON, Tuesday. Soldier settlement finance has improved during the year, according to the annual report of the Discharged Soldier Settlement Board. The total i*eceipts, £1,792,000, constituted a record. As the result of improved turnover, the treasury has been able to repay debentures to the value of £533,000 and make payment to the Consolidated Fund of £320,000 in respect of interest on accu- s mulated surplus invested in the account. The net results for the year failed to meet the gross expenditure by £20,000, but it is anticipated that, as reduction in capital account approved by last year's legislation became operative last April, the account will now pay its way. The Minister of Finanee has written off £1,600,000, which means a reduction of £64.000 in the annual interest bill. The Department during the year disposed of 157 farms by sale, 111 by lease, and has on hand 312 properties of 155,751 acre.s. The past year's operations of the board have been instrumental in placing on a good footing for future men • who have been endeavouring to farm overcharged properties. There has been a marked decrease in the number of abandoned farms thrown back on to the hands of the Department, and the report remarks that in many cases, wore it not for the existence of the Dominion Revaluation Board and its powers, land boards would be faced with the alternative of forfeiture or foreclosure. The assistance rendered bv private mortgagees is recognised. The total private mortgages and debts owing by soldiers was £162.365, which has been reduced by £122,909, or 75.7 per cent, while £71,7,61 of other obligations have been acquired at a discount of £29,560. The Dominion Revaluation Board's opinion ie that a majority of the soldier Rettlers ure now on a stable footing, and that there is a reasonable prospect of their beiner able to discharge their responsibilities to the Department and meet their commitments in full in the future.