The Cheap Money Scheme.

Feilding Star, Volume XVI, Issue 161, 7 January 1895, Page 2

The Cheap Money Scheme.

The General Lending Board, constituted under the Government Advances to Settlers Act, is to meet (for the first time) next week. The settlement of the preliminary arrangements will probably occupy a few days, and after that the Board will proceed to deal with the applications for loans. It is expected that a number of advances will have been made before the end of the month. Clause 16 of the Act determines the constitution of the Board, viz., " The superintendent shall be ex officio chair- i man of the General Board,* and the six persons holding for the time being the offices of the Colonial Treasurer, the Public Trustee, the Government Insurance Commissioner, the Surveyor General, the Solicitor-General and the Commissioner of Taxes shall be ex officio members of the General Board. As the Public Trustee also holds the office of superintendent, created by the Act, the secretary of the Treasury, (Mr J. B. Hey wood) was appointed to the sixth seat on the Board in terms of clause 17, which provides that " in the event of the superintendent at any time holding conjointly any one of the other above-mentioned offices, the Governor shall appoint some other public officer to be a member of the General Board, so that the number of members may at no time be less than six, exclusive of the superintendent." — Times.