A SIX MILLION LOAN.
FOR DISCHARGED SOLDIERS SETTLEMENT.
Wellington, September 29.
The Discharged Soldiers’ Settlement aud Loan Bill was introduced by Governor-General’s message in the House of Representatives this afternoon.
In reply to Mr Wilford, Mr Massey said that the amount of the loan would be £6,000,000. This loan would not be free of income tax, and the rate of interest would be 51 per cent. Of the debentures to be issued £2,500,000 would bo available • for payment of death duties. There would be compulsory clauses in the Bill, but the conditions would be different from those of the war loans, the Department being of the opinion that a sum equal to one year’s payment of land aud incime tax would be sufficient instead of three times that amount.
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Bibliographic details
Otaki Mail, Volume XXVIII, 1 October 1920, Page 3
Word Count
129A SIX MILLION LOAN. Otaki Mail, Volume XXVIII, 1 October 1920, Page 3
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