ADVANCES TO WORKERS.

Dominion, Volume 3, Issue 885, 3 August 1910, Page 4

ADVANCES TO WORKERS.

SHORTER TERM OP REPAYMENT URGED.

Complaints arc made of a slump of trade in Waihi, and the reason advanced for this is that while last ycai about twenty thousand pounds was received by Waihi workers under tho Advances to Workers Act, this year practically no advances have been mado. Questioned by a reporter on this matter, Mr. H. Poland, Jl.l J . for Ohineniuri, 6aid he had made inquiries into it, and idund that'tho Department did not consider a mining title, with the uncertainty of tho life of a. mining township, sufficient security for a loan for workers' homes, as long as tho term of repayment was 3CJ years, as it was at present. The Department took the view that it' had already lent a large sum of money in Waihi, and that before any more was lent there should bo an amendment of the Advances to Workers Act .to reduce tho term of repayment to twenty years. An amendment would be introduced this session to divide securities into two classes—first and second. In the case of tirst-c'use loans the term of repayment would be thirty years, and in the case of seoond-class securities twenty years. Tho shorter term would apply to mining townships, sawmilling Cowna, and others of that nature. As soon as that amendment was made, he understood that applications from mining townships would again be considered by the board. There was no doubt that tho present term of repayment was too long, in view of the life of a house, and the shortening of the term • of repayment would not press hardly on the workers. Other amendments to be made in the Act had reference tp the valuation, of leaseholds and improvements effected by leaaeholders.