8.—6.

That is why the Government intends to organize a system of public health services, including full medical, maternity, and dental care, which will stress the prevention rather than the cure of illness. This system will be extended to all our people in both rural and urban areas. The Government has already taken the initial steps for the organization of a complete health insurance, invalidity, and old-age superannuation scheme. The objective is to provide superannuation by right during sickness or old age, without a means test. The preliminary organization has been established under which negotiations will be inaugurated with all bodies associated with the care of the aged and the sick. The organization of the Friendly Societies, the National Provident Fund, the Public Service Superannuation Schemes, the Pensions System, the Government Life Insurance Office, and the Health Department will all be used to determine the most efficient financial and service procedure necessary to provide for accident, invalidity, sickness, and old age. In the intervening period whilst the constructive work is proceeding, steps are being taken to introduce pensions for invalids and to raise the general standard of all pensioners. Unless a Government controls its banking and credit system it will be materially hindered in the planning and carrying out of its policy. That is why .the first major policy measure of the Government was the Reserve Bank of New Zealand Amendment Act, which gave it full control of the foreign exchanges and of credit within the country, making the Reserve Bank entirely a State Bank. In a developing agricultural economy, the question of farming finance is all important, and New Zealand is no exception. Over forty years ago the State initiated a policy whereby settlers were provided with finance at particularly low interest rates, and for long periods. This system has been the greatest single factor in developing New Zealand's farm lands. Last year the Government then in office established a Mortgage Corporation, changed the old procedure, limited the scope of the legislation for social service, and introduced private shareholders and share capital and bonds not guaranteed by the State. As with the Reserve Bank, the Government has bought out the shareholders of the Mortgage Corporation and the institution has again come under direct Government control and responsibility as the State Advances Corporation. Bonds will be State-guaranteed so that money may be raised at the lowest possible rates. Where it is necessary to assist a farmer in financial difficulties, or for purposes of providing homes for wage-earners, a high percentage of the security will be lent. There are safeguards so that the loans cannot be used for speculation. The intention is to provide homes and farms for the people at low cost. Provision is made in the Housing Act for the erection of houses, and plans are in course of preparation to provide for the construction of some 5,000 houses at a cost of approximately three million pounds. It is hoped to erect some 900 houses before the end of the financial year. Finance will be available to local authorities for house building and full details of procedure will be sent to inquiring local bodies within the next few weeks. Those who save to buy land upon which to erect their own homes may borrow a large proportion of the total cost at special low rates of interest —the interest and principal being repaid by small quarterly instalments spread over a period up to forty years. An interesting innovation in the Act is a provision under which the addition of a small sum to the principal of the mortgage to cover the life of the borrower enables the property on his death to be handed over to his widow free from all further payments. The passing of the Primary Products Marketing Act inaugurated one of the most important features in the history of the Dominion's primary production. All butter and cheese made after Ist August of the present year becomes the property of the Government when placed on board the overseas steamer for export. At that point the dairy factory will be paid in full the guaranteed price for the dairy-produce by means of a cheque drawn on the Dairy Industry Account at the Reserve Bank —the Government Bank.

Public health.

National health and superannuation.

Banking and credit.

State Advances Corporation.

Housing.

Dairy industry,

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