NO BOOM WANTED.

Hokitika Guardian, 15 May 1924, Page 3

NO BOOM WANTED.

Ml! -MASSEY’S STATEMENT. f"V TELEURAPII— PKH PRESS ASSOCIATION Wellington. May i.-,.

“I am nut going to have any booms here while r am about. That, sort of thing is on good to anybody.” said Hon. \V. F. Massey to-day. to a deputation of local Labour members. which waited on him to urge more facilities he provided to obtain loans for houses under the State Advances scheme, and to reguest that the moratorium which expires at the end of this year lx> lifted gradually. so as to avoid undue hardship. Mr Massey stressed the point- that the Advances Department was not discontinuing operations, and said lie did not think there was going to be the trouble over tin' expiry of the moratoiium which some people imagined. Mr Massey quoted the latest figures as to the amount which had been advanced from the Advances office for the last year and perhaps including the past April of this financial year there was lent to 77-12 borrowers £0 ,'099.211-. “T say al once that you cannot keep ilmt tip, because if you attempt, to go more rapidly than that, down comes the credit of the country and von are tin against it. I speak of what 1 know. As a matter of fact, that rate <llllllOl be maintained. It was too fast. Too

much money was going out and a boom was being created and I am not going 10 have lmoms liere while 1 am about.’’