SOLDIERS' LOANS.

Taranaki Daily News, 7 October 1920, Page 4

SOLDIERS' LOANS.

CURTAILMENT OF ADVANCES, NO LOANS TO BUY HOUSES. PURCHASE OF SINGLE FASMS i STOPPED. i IBy Wire.—Parliamentary Reporter), Wellington, Last Night. Mr. R. Masters (Stratford) asked a question in the House of Representatives to-day regarding the policy of the Government in the settlement of returned sdldiers on the land. He had heard, he stated, that certain new instructions relating to the purchase of single farms and of houses had been sent to the Commissioners of Crown Landß. The Minister for Lands (Mr. Guthrie) replied that he had already, written to the Returned Soldiers' Association on this matter. The position was that n« further applications would he accepted, by the Lands Department for tlw purchase of houses under the Discharged Soldiers' Settlement Aot, except i&.txceptional cases. The, future poKey of the Government would be to enoouaage soldiers to apply for advances to erect houses. This would help to relieTe tine -existing shortage of houses, and would make the available funds go much further. With regard to rural land, the department, except in cases where a man had paid his valuation fee, would discontinue making advances for the purchase of single farm's, but would consider applications from two or moro gOl- : fliers eligible under the Act for the purchase of a property suitable for subdivision. Where a soldier had sufficient money to provide the Advances to Settlers'"Department with the necessary margin of security, he would be able to apply for the purchase of a farm through that channel. The restrictions in regard to rural land would not apply to a small poultry, bee, fruit, and market gardening farm. The Minister added that no applications for the discharge of existing mortgages would be accepted by tile Government unless in most exceptional circumstances, such as if the mortgage* could prove that he was charged an i exorbitant rate of interest. If the mortgagee was paying the current rate of interest he must carry on. Advances on current account for the purchase of stock and implements, and for effecting improvements would be dealt with as usual. It had been stated in a Wellington. newspaper that much trafficking in sol dicrs' land was proceeding. That was not the case. The department, in a 'few cases, had found it necessary to let soldiers out owing to their inability to work the land for one reason or a» J other, but the soldiers generally could not traffic in the land and houses purchased for them untij ten yeara had elapsed. Everything possible was done by the department to stop any speculation or trafficking in these properties. Mr. Guthrie added that all applications passed up to September 23 had been dealt with. The recommendation that had been made by the commissioners since that date would be cleaTed up very quickly. f