STATE ADVANCES.

Taranaki Daily News, Volume LV, Issue 154, 16 November 1912, Page 3

STATE ADVANCES.

STATEMENT BY THE PRIME MINISTER. By Telegraph—Press Association. Auckland, Friday. • The Prime Minister received a deputation* from Ithe AVaitemata County Council asking the Government to grant the balance of the £58,000 loan, of which £20,000 has Ibeen lifted, at the same interest as the first instalment, and also for an extension of time during which the money may be spent to six years. Mr. Massey said that the previous Administration decided in January last, in view of the financial conditions, to observe' the £SOOO limit for loan advances. The stringency had not been relieved, and the present Government did not feel justified in raising the limitation until after the visit of the Minister of Finance to England. There would be no difficulty in regard to the extension of time. Conecming the price of money. Mr. Massey said that the Government haft decided upon a policy of differentiating between loans for development and non-development. The farmer would < huve the first consideration, and the Waitemata loan would come under that heading. The Government intended to make the puolic works allocations available at the earliest possible moment, to enable work to be done before winter in each year.