8._6

XVI

For the purpose of building houses and acquiring homes a large sum has been advanced during the hist four years. The following is a table of the loans authorized from the Ist April, l!)'l!), to the 31st March, J923: . Number. Amount For housing purposes t To settlers . . .. .. ..4,382 2,256,133 To workers (including Housing Branch) .. 5,801 3,000,939 To release mortgages on home properties — To settlers .. .. .. .. 929 380,223 To erect workers' dwellings To local authorities .. .. .. 100 471,735 Tota! .. .. .. .. £6,109,030 In addition to the above it should be noted that £8,000,000 litis been advanced to soldiers for housing purposes out of the Discharged Soldiers Settlement Account. The Advances Office has aided many borrowers and granted to them numerous concessions, which have enabled numbers of settlers to retain possession of their holdings during the difficulties of the last few years. The gradual return to normal conditions, with the advent of improved prices for our primary products, is slowly but surely helping mortgagors to overtake their liabilities and regain their former positions I propose to further extend the operations of the State Advances Office, and to grant larger loans than the law at present allows. The terms and conditions under which advances are made will also be rendered easier for the borrower. The maximum advance that may be granted to a settler is to be increased from three-fifths to 75 per cent, of the value of the security, and the maximum advance that may be obtained by a worker is to be increased from three-fourths to 95 per cent, of the value, of the security in the case of buildings already erected and up to 95 per cent, of the cost of the land, dwelling, and improvements where buildings are to be erected. Loans will be granted for terms not exceeding twenty, thirty, or thirty-six and a. half years, tit the discretion of the Board. PENSIONS. The following payments were made during the year ended 31st March, 1923 : — £ War pensions ~ .. .. .. .. 1,489,392 Old-age pensions .. .. .. .. 755,213 Widows" pensions .. .. .. .. 188,004 Epidemic pensions .. .. .. .. 52,371 Maori War pensions .. .. .. .. 34,110 Miner;;' pensions .. .. .. .. 33,491 Pensions under Civil Service Act, 1908 . . . . 20,937 Military. Pensions under Defence Act, 190!) .. 3,058 Pensions under Judicature Act, 1908 . . . . 2,444 i'olice pensions . . . . . . . . 474 Sundry pensions and annuities .. .. .. 4,344 £2,589,838 From this total is deducted £52,329, representing 128.547 from national endowments on account of old-age pensions, £2,611 from gold duty in respect of miners' pensions, and £21,171 from sundry refunds of all classes of pensions, leaving a net charge against the Consolidated Fund of £2,537,509.