8.—6.

NAVAL DEFENCE. The net expenditure out of vote " Naval Defence " for the financial year ending 31st March, 1925, amounted to £283,356, a decrease of £2,367 in comparison with the previous year. The estimates for the current year have been framed with a view to continuing, as far as possible, the policy embarked on by the Dominion. H.M.S. " Diomede " has been selected as the second cruiser for the New Zealand Division : it is expected that she will commission in October, and reach the Dominion by the end of 1925. The addition of this vessel is responsible for the greater portion of the increase in the estimates. LAND-SETTLEMENT. There were 1,009 holdings, comprising approximately a total area of 182,789 acres, opened for selection in 1924-25. 344,000 acres of Crown settlement, national-endowment lands, and reserves, subdivided into 750 sections, were selected on freehold and leasehold tenures, and 530 miscellaneous leases were also issued, comprising an area of 117,000 acres. The balance of the Teviot sections were balloted for and disposed of, there being a keen demand for this class of open sheep-country. At the present time an area of about 480,000 acres of Crown, settlement, and national-endowment lands is open for selection. An area of 2,914 acres was set apart for selection by discharged soldiers, whilst Proclamations were issued revoking the setting-apart of an area of 9,114 acres which had been proclaimed for soldier settlement. In connection with modern town-planning proposals, competitive schemes are being invited in connection with the planning of model suburbs at Orakei, Auckland, and the Hutt Valley, Wellington. Land Aggregation. Although there is no particular indication that land aggregation on a serious J scale is taking place in the Dominion, the Government is desirous of protecting as far as possible small settlers' holdings from absorption into large estates. With this in view it is proposed to apply a check by means of the duty on conveyances, the present rate of which is £l per cent. This rate would under the new scheme operate on transfer of rural land to a holder who will not have with his new purchase an excess of a fixed capital value in land. Any acquisition above that value, however, is to be subject to an increasing percentage rate to a maximum of 8 per cent. The proposed method should appeal to all who desire to see the settlement of the country maintained on a basis of opportunity for the small settler, and fuller details will be submitted to honourable members at a later date. Discharged Soldiers Settlement Account. From the inception of the scheme of the discharged soldiers settlement in 1915 e to the end of last financial year advances have been made to discharged soldiers s as follows : — Section 6, Discharged Soldiers Settlement Act, 1915 — Advances on Current Account (including £1,405,000 for £ the erection of buildings on farms) — 4,918 returned soldiers .. .. .. .. .. 4,663,600 Section 2, Discharged Soldiers Settlement Amendment Act, 1917 — Advances towards purchase of farms, marketgardens, orchards, and discharge of mortgages — 5,507 returned soldiers .. .. . . .. . . 8,938,800 Section 2, Discharged Soldiers Settlement Amendment Act, 1917 — Advances towards purchase and erection of dwellings and discharge of mortgages thereon in town and suburban areas — 11,901 returned soldiers .. .. .. .. .. 8,605,900 22,326 returned soldiers .. .. .. .. .. £22,208,300

r Naval defence. 1

Land-settlement.

Land aggregation.

Discharged soldiers settlement.

11