STATE ADVANCES
PREMIER’S STATEMENT (By Telegraph—Per Press Association) WELLINGTON, August 26. . The suggestion .’that the State Advances Department is faced with a difficulty owing to the abnormal number of failures on the part of the borrowers to repay their usual instalments of principal, was brought under the notice of the Prime Minister to-day. Denying the accuracy of the report, he said that the Department could quite adequately cope with all its business requirements out of its own reserves, without any assistance from the Consolidated Fund. There was no‘trading 'Department of the State in the slightest degree embarrassed in conducting its business under the present, conditions. The annual statement recently submitted to Parliament showed the repayments of principal had been well maintained.
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Hokitika Guardian, 27 August 1931, Page 5
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121STATE ADVANCES Hokitika Guardian, 27 August 1931, Page 5
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