EARTHQUAKE LOANS
Chance oi Lump Repayment Less Discount MR. BARNARD HOPEFUL The provision of an opportunity tq borrowers 9 of earthquake rehabilitation loans- to pay ofl: their indeb.tedncss in a lump sum, less a eertain discount for prompt payment, is being sought by the Hon." W. E. Barnard,' Member for Napier, as a further means of p.roviding dssistance to borrowers. During his pre-sessional address in Napier last night, Mr Barnard mentoned that already the Government, by eancelling the interest * on earthquake Loans, had aiforded relief to borroweTS to an extent estimated gt a bout £20,000 a year, "I am now trying to tqke a step fnr-ther in this matter, '■ ' he said, " by endeavouring to arrange fqr these loans, whieh are now interest-free? to be repaid at a discount." Mr Barnard said that it would. be necessary for the matter to be considered by an actuary, but it was his idea that, where a borrower desired to pay off the loan in one sum, he. should be allowed to do so at a discount. He hoped that it would be possible for his. representatiqns in this direction to bear fruit. ' ' I may even say I have every reason to believe that I will haVe some measure of succesa in this respect," he concluded, ,
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Bibliographic details
Hawke's Bay Herald-Tribune, Issue 169, 4 August 1937, Page 4
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212EARTHQUAKE LOANS Hawke's Bay Herald-Tribune, Issue 169, 4 August 1937, Page 4
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