GOOD NEWS FOR SETTLERS

Dominion, Volume 8, Issue 2300, 6 November 1914, Page 4

GOOD NEWS FOR SETTLERS

Good news for settlers and others was contained in the announcement made by the Hon. Jas. Allen that it had been found possible to increase the maximum loan from the Advances to Settlers Branch of the State lending Department from £500 (to which it was reduced on the outbreak of the war)' to £750. This concession is rendered possible by the fact that the Post Office funds are in a flourishing condition, deposits having exceeded withdrawals during tha past two months. If these conditions continue, the Government hopes next month to further increase the maximum loan to .settlers to £1000. In tho case of advances, to workers the Department has for some time past been making loans of i£4oo, which is within, £50 of the statutory limit. The progressive relaxation of restriction upon State lending seems to indicate that Now Zealand is in a fair way to weather the storm of war very, comfortably, and it affords, of course, a fine illustration of the benefits which follow upon a prudent and far-sighted financial policy. If the Government succeeds in obtaining in London the m6ney which it requires for the prosecution of public works, the outlook will be still further improved, both as regards the employment of labour and the operations of the State Advances Department. At the moment tho strong, balances to credit in tho advances accounts.are being held in reserve, to some extent, against a possible dearth of loan money to replenish the Public Works Fund, but when a loan has been floated these funds will be released for their original purpose. Other matters mentioned in the House on Wednesday equally open up bright prospects for the future. Tne Prime Minister, having gone into the position, is of opinion that sheep farmers will obtain a good price in England for the season's output. The position as regards local supplies of wheat is not quite so satisfactory, and from what was said yesterday it may be necessary to relieve the shortage existing in some places by transferring supplies from other parts of the Dominion. In view of the fact, however, that the Government still has some Australian wheat in hand, and that it has arranged for large importations from Canada, besides facilitating private importations by remitting the duty, there should be no cause for uneasiness as to the general position.