Wairarapa Daily Times. [Established 1874.] SATURDAY, NOVEMBER 10, 1894. "ADVANCES TO SETTLERS."

Wairarapa Daily Times, Volume XV, Issue 4873, 10 November 1894, Page 2

Wairarapa Daily Times. [Established 1874.] SATURDAY, NOVEMBER 10, 1894. "ADVANCES TO SETTLERS."

SECOKD l-fDITION

It is reported that the settlers in the JJush are extremely anxious for the Advances to Settlers Act to come into practical operation, that they reqniro to draw loans under it immediately in order to be able to upend them on improvements during the summer season. Everyone will sympathise with their wishes, hot every wellinformed person will feel sorry for them. It is evident on the face oE stem facts tlnit ninoout of ten of them muHtbe disappointed in their expectations, and it is to he regretted that Mr Seddon, when he wan amount, them si few days rigo, did not dissipate the illusion under which tliey appear to Inborn'. The tctal sum that cjui possibly he advanced befoj'O next winter is ,-Cl2f>o,ooo, and this uinqrifit has to hu spread over the whole Colony. '1 ho Dusli sottlei'H cfinnot expect to KGt more than £5,000 as their shnro, and thiH amount is miserably jnad«r f|«ato for their reriuirumonts, It is very thai thovu will bo Home two or throe hundred of them wanting loans, and that only twenty or thirty of thoni will got advances. Apniii, tho lending department, to securo UioHticcess of tho scheme- will pick tho very best seenrities which offer, >io that ovory settler with a wojik Honurity will bo out in tho cold. A man who can now borrow at G£ per cent, in tho open markct miiy have a chance of an advance, but tho man who, in, f;h,o open, market, would biiyo to pay woven or eight per cent, has not the remotest prospect of assistance under tho noiv Act. It is doubtful whether tho Colony can lend dtfSSp.OOQ at 5. per cent interest ftpd ono per cent sinking: fund without loss, find this is tho reason why tho legislature refused to sanction a lai-ger sum being voted for tho current year. Those settlers who do succeed in obtaining loans will undoubtedly secure a bargain, but wo to predict thjttkol™&y itteii, will be :thuse'"-wlio'possess/'; : gQGfI :|>voi>?} ; ties, ■ sss irbo \ pfier: a IjlCgp." rnavghi b£ The i"li- V: ■...« L )Si }'iuid,t»jg tijeA.dVW'b.H to , Settlers Act iwere -nndanbtodly unimfiiod' by ;■.'& Binooro. desij'O to iiesiat-.:settlers; riot for ono: Miomeat desire itosi

their mean-are. But it is inevitable tlmt ; in; jLfissfitdiß'c given should at firsL Idj I'cstriutcd to very narrow limit- t u future years the operation of tin Ai*l. iviil nodoubt bo widened if it; i ! 1 l'ouiid that it can be worked withi-Tir I,jus to tliu Colony. But to on sun- ili is point it is imlifiponßuble Mint, ;;t llr.'it. only a very limited number of fiiuked securities should be (jik,.'u. The lending department lias tu conduct its business in opposition in mm|ficrless private companies , find i miivu|uuln, and its only chance of lioidi J g jits own against tiionx is by tnkiiifr She cream of the applications tlmt ifomo to it.