BUILDING DEPRESSION.

Taranaki Daily News, Volume LVII, Issue 182, 11 January 1915, Page 2

BUILDING DEPRESSION.

GOVERNMENT CAN* DO NOTHING. | ®y TeYjjrapli.—Per Pn-ss Association Wellington, .Tiinuury A deputation representing builders, architects, and owners of tiinli;'i- country waited on the Primp Minister today. It was urged that the State should come to tlic rescue of men who wanted to build and .find the necessary money so a» to prevent sawmills being > obliged to close down, which had hap. poncd, in some cases partially and some wholly. One of the speakers said that the difficulty was that building loans granted by the Government were cither too small or too long delayed. The result was that many small builders were idle. "What we want, 1 ' he added, "is cheaper money ami plenty of it." In replying, Mr. Massey said he hardly thought the public understood what the Government was doing in the matter of supplying money. Tie knew the war had had a. scrioiis effect on the timber industry, but the Government had done' everything possible to meet the difficulty that had arisen. The Advances to Workers Act was in full operation today and £4OO was being advanced in e.jch case where sufficient security was ■provided. As to advances to settlers the Government was actually giving preference to those who wanted to borrow money for the purpose of building. He did not know what more could be done. As to the suggested issue of paper money for the purpose, it would only mean the issue of so many promissory notes, which would have the worst possible effect on the credit of the Dominion and might cause serious financial depression. When the money market was suitable the Government would take care that ail additional supply of money was brought into the country for the I purpose required.