SOLDIER SETTLEMENT

Hokitika Guardian, 25 September 1928, Page 3

SOLDIER SETTLEMENT

WELLINGTON, Sept. 19. Soldier settlement finance lias improved during the year, according to the annual report of the Discharged Soldier Settlement Board. The total receipts, £1,792,000, constituted a fe- ' edit'd. As the result of improved turnover, the treasury has been able to repay debentures to the value of £533,COO and make payment to the Consolidated Fund of £320,000 in respect of interest on accumulated surplus* invested in the account. The net results for the year failed t 6 meet tile grogs expenditure by £20,000, “but Tt is anticipated that, as reduction in capital account approved by last year’s legislation became operative last April, the account will now pay its way. The Minister of Finance has written off £1.609,000. which means a reduction of £64,000 in the annual interest bill. The Department during the year 'disposed of 157' farms ’by sale, 111 by lease, and lias On hand 312 properties of 155,751 acre's. .The past year’s operations of the board have been instrumental in placing on a good footing for future men who have been endeavouring to farm over-charged properties. There has ‘been a marked decrease in the number of abandoned farms thrown bach on to the hands of the Department, find th'e veport remarks that in many cases, were it not . for the existence of the Dominion Revaluation Board and its nOwers, land boards would be faced with the. alternative of forfeiture or foreclosure. The assistance rendered bv private -mortgagees is recognised. The total private mortgages and debts owing by soldiers was £162.395, which has been reduced by £122,909, or 75.7 per cent, while £71.761 of other obligations Have been acquired at a discount of £29.569. The Dominion Revaluation Board’s onipion is that a majority of the soldier settlers are now on a stable footing,' and that there is -a reasonable prospect of their being able to discharge their responsibilities to the Department and meet their commitments in full in the future.