LAND SETTLEMENT
BRITISH COLUMBIA SCHEME
OTTAWA, October 16
The Provincial Government of British Columbia is setting aside a million acres of soil surveyed land for the benefit of British Columbia exservice men who qualify as farmers under the Veterans Land Act, 1942. When announcing the land grant the Premier, the Elon. John Hart, said it was expected that the Dominion Government would spend nearly 25,000,000 dollars under the scheme. Provision is made under the Veterans Land Act, which is a statute of the Dominion Parliament, to advance to a veteran a maximum of 3,600 dollars for land and buildings and 1.200 dollars for equipment and livestock. The veteran is required to make a down payment of 10 per cent, of the cost of land and buildings. The maximum total investment thus is 4,800 dollars. The veteran is required to repay only 2,400 dollars of this sum. that is two thirds of the cost of the land and buildings, or one half of the total investment. The interest rate is 31 per cent. The maximum repayment time allowed is 25 years. *
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Wairarapa Times-Age, 27 October 1943, Page 4
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180LAND SETTLEMENT Wairarapa Times-Age, 27 October 1943, Page 4
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