LOANS TO SOLDIERS.

Auckland Star, Volume LII, Issue 206, 30 August 1921, Page 7

LOANS TO SOLDIERS.

POLICY OF RETRENCHMENT. CANTERBURY INDICATIONS. (By Tclegra-oh.—Press Association.) CHRISTCHURCH, this day. I Indications of a policy of retrenchment in regard to the granting of loans to returned soldieus for erection of dwellings were apparent at last meeting of the Canterbury Land Board, when in practically all approved applications the amounts asked for were reduced by the ■board. Mr. Bullard, Commissioner of Crown Lands, stated to a "Star" reporter this morning that the 'board had reduced many of the amounts applied for because members considered the soldiers were undertaking too big a burden. In all the applications for ] loans the financial position of the appli- ' cant was carefully considered, and the 'board would not advance any amount, ; the interest and sinking fund of which was regarded as too heavy a liability for the applicant to incur. The board also preferred applicants to have some financial interest in the property, and in many cases would not grant up to its full value. There was also a certain amount of retrenchment going on due to a number of applications being rejected by the 1 Minister after they had 'been approved !by the board. He could not state kwhether there was any likelihood of the j Government closing down on grants : altogether, that was a matter for the j Minister himself. I "I would advise all returned soldiers ! who contemplate applying for advances for the erection of dwellings to lodge applications as early as "possible," said Mr. Leadley, secretary of the Returned Soldiers' Association. Mr. Massey had given a definite promise that the loans would not be cut out altogether until ! after twelve, months' notice had been given, but already there were indications that the Government was retrenching in making advances. lie considered the soldiers could take that as a hint of what might happen in the . future.