ADVANCES TO FARMERS.

Waikato Times, Volume XXV, Issue 2054, 5 September 1885, Page 3

ADVANCES TO FARMERS.

The Wellington correspondent of the Herald telegraphed on Thursday • -The Select Committee appointed to consider the question of advances on land, of which Mr Macandrew was Chairman, repoit that in their opinion tho credit of >ew /"aland might with advantage be applied tovvaids enabling settlers-, on the security of their kland, to acquire advances at a low i ate of Pinterest. Such advances might bo made through tho Laud Transfer Department in sums not exceeding £2000 to any one nidi vidual for any period not exceeding ten years tho rate, of interest to be A\ pot cent, per annum; the amount ot such advance not to exceed one-half "f the value as fixed under tho Property Assessment Act; the mortgagor to be entitled to cancel tlio moitgage at any tnno on payment of principal and interest to data of cancellation. The amount advanced should bo paid in Now Zealand Government debentures of not less than £100 each, beaung interest at the rate of four per cent.! per annum, with a currency of hft-en years. From a statement attached to this repoit it appears the number of moitgngees for sums ranging from £100 to £1000 u u h is 32,, 50, regNse'iti'ig ft l " tal «»""" llfc <)f tlo> l )0 ' " , The number of mortgages over £1000 and under £2000 is (ili34, th» values of winch, however, are not gneiK