THE STATE ADVANCES DEPARTMENT.

Stratford Evening Post, Volume XXXVI, Issue 33, 13 June 1913, Page 5

THE STATE ADVANCES DEPARTMENT.

Mil ALLEN'S EXPLANATION. [Per Press Association.] Wellington, June 13. Tiie Hon. Mr Allen, replying to a recently published criticism regarding the State Advances Department, said: “.it is suggested that we altered the proportion a man can borrow. This is altogether wrong. Also it is suggestted that because the Reform Party is in power, certain men who applied for loans have been offered less than they applied for. The administration of this money is in the hands of the' State-Guaranteed Advances Board, and the Government does not influence it in any way. Some applications have been rejected and some reduced. This was the practice before we were in power, and it must of necessity be the practice now. It is incompatible with safety to lend everybody whatever they may ask. When we came into office the commitments •i mounted to £770,000, while provision had been made for Jess than £20,000. file position to-day is that we reduced the commitments to £516,000, to meet which we have £352,000.”