The Advances to Settlers Act.

Feilding Star, Volume XVI, Issue 223, 21 March 1895, Page 2

The Advances to Settlers Act.

Mr Pirani, in his speech at Apiti, said he naturally took great interest in The Advances to Settlers Act, for, with all modesty, he believed he could fairly claim to have been the first during the I last general election to advocate a scheme to provide cheap money for farmers. That the scheme adopted was not all one could wish is only natural, but it was a marvellous thing for the Government to be able to pass any measure of the sort in one session in the face of the many vested interests opposed to it. To show them how the colony had been bled in the past by interest-mongers be quoted briefly a return of the movements of capital in Victoria, New South Wales and New Zealand for 21 years. In Victoria the total capital, public and private, introduced from 1871 to 1892 was £101,918,---000, and during the same period only £29,984,000 was paid back in principal and interest. In New South Wales, in the same period, £92,202,000 was received and £69,758,000 paid back. In New, Zealand during the same period, £58,771,000 was received and the large sum of £56,178,000 paid back in principal and interest. Therefore Victoria had received £71,934,000 more than she had paid out in interest and principal, New South Wales £22,449,000, and New Zealand only £2,593,000 more. There was every reason to hope that the scheme initiated last session would be successful. Unfortunately there was bound to be some friction and delay at the commencement, but the Superintendent had lost no time in getting the Act in working order and deserved considerable credit for what he had accomplished at such small expense in regard to officials and salaries. He believed that the Advances to Settlers Department would not only prove a boon to the people of the Colony, but would be an example of efficient and economical administration.