The Daily News. TUESDAY, JULY 18, 1905. ADVANCES TO SETTLERS.

Taranaki Daily News, Volume XLVII, Issue 7875, 18 July 1905, Page 2

The Daily News. TUESDAY, JULY 18, 1905. ADVANCES TO SETTLERS.

Tlic claim of the present Government to the gratitude of the people vi thin colony rests on many beneficent and progressive legislative enactments, but lew, if any, of these stand so prominently forth as the Advances to Settlers Act passed in 1894. Many a hard working and struggling settler has good cause for • blessing the Government which has enabled him to tiile over the hard times inherent to pioneer settlement, or to enlarge the scope of his operations and thus increase his prosperity. The high rates of interest 1 which prevailed before the State stepped in to help the needy settlers prevented many from having recourse f to the money lender, and not a few • of those who were compelled to horiow at a high percentage groaned Vnealh the burden which was as a millstone round their necks. The impetus given to settlement by the Advances to Settlers Act has been very •great, the result being seen in the'great expansion of the dairy and other kindred induslrics connected I (With the laird. It was just the boon required to develop a new country, and tonus one of the highest testimonies to the wisdom and fore- ■ thought of the Scdilon Administration. The only complaint that has teen heard comes from those who wanted to borrow more than the Department deemed it prudent to advance, and while this proves the care with which the Department is administered, it also accounts for the fact that the Board can justly pride itself on not having incurred a single loss since the inception of the office, I nor has it any securities on hand. U may be, and doubtless is, contended' by the disappointed applicants that the Board which deals with the advances has been over-cautious, hui as against that view it may be said it was imperative to exercise the utjiiost caution in this matter or court disaster. During the initial stages ot administering nuch a novel ami important department, involving the raising of loans and lending the proceeds to the settlers, it was absolutely necessary for the credit of the Colony that extra care should be exercised, and though this course may have caused occasional heart-burn-ings. Hie policy was sound. At the same time the valuable experience •pained from the inception of the scheme to the present time, coupled with the satisfactory position of the reserve fund, will doubtless (liable Hit' Board to deal with applications in a more liberal spirit in future. The Land Commission had a very favourable opportunity of gauging the results of the Act, and the evidence obtained clearly shows that the iustitutiun of the system lias been of immense advantage, and Hie Commissioners consider the percentage of advance to the security offered might well lie raised In sixty per cent. Already several concessions have been made by the Department, which now •bears the cost of accident insurance premiums hitherto payable tiy Ihe mortgagees. The advances made now. amount to over four and a quarter millions, of which Taranaki accounts for the respectable sum of £BfiS,ll!i. ?n addition to being a great boon 10 the settlers, the Department is e.iniing a substantial annual profit, that ior 1901-r. amounting to £34,451 Tiett, while the working expenses amount to only a little over £SOOO. It is an old ami true saying that-

I "noth-in_ succeeds like success," and ( tlierc is no (I.''Hi' tint in tin- future IW Advances li> N lili-rs DcparWjit will liave an extended sphere of usefulness, and its operations will prove at least as successful as those of the past. It is by such measures that the Government Iras endeavoured 1o promote the best, interests of the Colony, ami thereby earned the con-, lidence of the country.