NATIONAL ENDOWMENT BILL.

Wairarapa Age, Volume XXX, Issue 8491, 20 July 1907, Page 5

NATIONAL ENDOWMENT BILL.

(By Telegraph—Parliamentary Correspondent.) WELLINGTON, July 19. The National Endowment Bill sets asids 9,000,000 acres, including 90,000 seres in the Wellington district, for education arsd old age pensions, 70 per cent, of the revenues less the cost of administration to go to the former, and 30 per cent, to the latter. The gross revenue after 31st March, 1908, is to be paid into a separate account, called the National Endowment Account, oufc of which the cost of administration is to be paid, and also all sums which are now payable by law out of revenue so received from that land to any local or public authorities. Moneys advailable for education are to be time to time as the Colonial Treasurer directs, and without any further appropriation than this Act to Education Boards for educational purposes in aid of the annual appropriations made to the Boards. The moneys available for old age pensions are likewise without further appropriation to be set apart for old age pensions. National endowment land may be up to five acres in any one case sold by Land Boards with the consent of the Minister as a site for religious, charitable, educational or any other purpose considered expedient in the public interest, the money to go to the Endowment Account. Ths Colonial Treasurer may set aside in accordance with provisions of the Local Bodies Loans Act sums up to £50,000 per year for roads or bridges upon endowment land, or otherwise for the purpose of facilitating the settlement of such lands, such sums to be in addition to and not in substitution of the sums authorised to be expended under section 73 of the "Local Bodies Loans Act, 1901."

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