The Fielding Star. Oroua & Kiwitea Counties Gazette. Published Daily. TUESDAY, SEPT. 11, 1894. THE CHEAP MONEY SCHEME.

Feilding Star, Volume XVI, Issue 65, 11 September 1894, Page 2

The Fielding Star. Oroua & Kiwitea Counties Gazette. Published Daily. TUESDAY, SEPT. 11, 1894. THE CHEAP MONEY SCHEME.

The details of the Government scheme for cheap money are published in another column and they at first glance convey the impression that a step is being made in the right direction- What will meet the most general approval is that part referring to the land on which money shall be adranced. Formerly any settler could borrow money on his freehold, hut under tbe new system settlers on Crown land held on perpetual lease ; ob lease in perpetuity ; and on Native land held on lease in perpetuity under the West Coast Settlement Reserves Act, 1892, will practically have all the advantages of a freeholder in regard to borrowing; with the exception that a freeholder can raise two thirds of ihe value of the security, while a leaseholder can only obtain on half of the value of his interest in the land. The terms for repayment are remarkably easy, and should present no difficulty to any ordinarily industrious person complying with them. Each advance will be for a period of thirty-six and a half years repayable with interest at the rate of 5 per cent, by seventy- three half yearly instalments, and tbe borrower has the right of repaying at an}* time sums of not less than £5 or more in reduction of the debt. Tbe fees are moderate. Those who will find most profit in availing themselves of the privileges proposed to be offered to them will be the members of Small Farm Associations, and like organisations, and we anticipate that an impetus will be given to settlement on Crown lands which will go far to help in removing the dark cloud of commercial depression which now hangs over the Colony. Due regard appears to have been made to economy of management, and the number of officials to be employed is small when compared with the magnitude of the work to be undertaken. Of course there are faults in the scheme as now formulated, but they are of such a character as to be easily amended as the work goes on, but they do not in any way, as far as we can judge at present, affect its general usefulness.