The Daily News. SATURDAY, OCTOBER 2, 1920. SOLDIERS' SETTLEMENT LOAN.

Taranaki Daily News, 2 October 1920, Page 4

The Daily News. SATURDAY, OCTOBER 2, 1920. SOLDIERS' SETTLEMENT LOAN.

According to Mr. Massey's statement when introducing, on Thursday evening, the Discharged Soldiers' Settlement Loan Bill, % further sum of seven and a half millions will, it is expected, be available during the current financial year for the purpose of settling soldiers. The actual amount of the loan I is six millions, which it is proposed to I raise at five and a half per cent. It may be assumed the full amount will be raised, as the compulsory lever is retained, and there is no doubt it will all be needed—and more. The -main point for consideration is whether 'the Department will, in the light of past experience, adopt a more business-like and economically sound policy in settling soldiers, so a3 to avoid increasing the evils created by forcing up the price of land by competition, otherwise a grave injustice will be inflicted on thousands of returned men who have not yet received consideration. Many of these did not take part in the which took place in connection with the first loan, and they are all the more deserving of favorable treatment now. Unfortunately the present prices of produce, while gratifying to those in a position to supply the goods, necessitate the new settlers having to come in on the top of big prices, with the possibility of falling markets in a few years' time. It is, therefore, extremely necessary that the Government should seriously consider this vital problem with the object of providing land for soldiers at a price that will under any normal circumstances yield a comfortable return for the money and labor expended thereon. There is plenty of land available, and the country needs it in order that the pledge to the returned soldiers may be carried out. Careful control should also be exercised over the advances, for dwellings so as to curb the tendency towards over-expenditure in this direction. One provision of the 'Bill can certainly be commended, namely, the establishment of a depreciation fund, which apparently is to serve the purpose of purchasing depreciated securities issued under the Act, these purchases being made under par, the securities being cancelled forthwith. It is proposed to limit such purchases to £50,000 in, any one year. The success of the loan should not be measured by the amount of the response, but by the policy adopted in its expenditure, and it is to be hoped that in this respect a great improvement will be exhibited as compared with last year. There is need for it.