SOLDIER SETTLEMENT

Hokitika Guardian, 21 September 1928, Page 4

SOLDIER SETTLEMENT

IMPROVED FINANCE. WELLINGTON, September 19. Soldiers settlement finance lias improved during tho year according to th/s ramnl rcp:rt oil discharged soldier set* tlemcnt.. The total receipts, £1,792,000, constituted a record. As tile result of the improved turnover the Treasury has been able to'repay debentures to-the-value of £533,090 and make a payment to the Consolidated fund of -320,000 in respect of interest on the accumulated surplus invested in the account. ', V

Tlie net results for tiie year, however, failed to meet-the gross expenditure by £20,000, but it is anticipated that as tlie reduction in .the account, approved by last year’s legislation. became operative last April, the account will now pay its way. The Minister of Finance litig written off' £1,600, OOe, which means a reduction of £04,000 in the annual interest bill. The Department disposed bf 157 farms by sale, and 111 by lease during the year and has oil hand 312 properties of 155,571 acres.

The past year’s operations of the hoard have been instrumental iii placing on a good footing for the future men who have. been endeavouring to farm overcharged properties. There lias been a marked decrease in the number of abandoned farms thrown back on the hands of the Department and the report remarks that id many cases wore it not for the existence of the Dominion Revaluation Board and its powers Land Boards would lie faced with the alternativb of (forfeiture or foreclosure. The assistance rendered ‘ by private mortgagees is recognised. The total of private mortgages and debts owing, by soldiers was £182,365, which has been reduced by £122,50D, or 75.7 per cent, while £71.701 of other obligations have been acquired at a discount of £29,550. The Dominion Revaluation Board’s opinion is that the majority off soldier settlers are now on a stable footing and that there is a reasonable prospect of their being able'to discharge tlieiß responsibilities to the Department and meet their commitments in full m the future.