STATE ADVANCES BILL.

Press, Volume LIX, Issue 17812, 11 July 1923, Page 12

STATE ADVANCES BILL.

DEBATE CONTINUED. (ajip.idgei> press association bspobt.) WELLINGTON. July 10. In the House of Refresentativcs this afternoon the adjourned debate on the State Advances Act Amendment Bill w;is resumed by I Mi- de la Perrelle, who supported ' the Bill and hoped the Government | would not neglect to have ample money available for farmers when the moratorium expired. Mr Field drew attention to 'the fact that a number of the largest lending firms in the Dominion were controlled j from Australia, and sometimes Aus- ■ tralian directors, without very mucb notice, called in as much money as possible from investments in New Zealand for investment in Australia. This was calculated to place many 'New ZealaJid settlers in difficulties, and he thought the Government should consider whetr.er somo steps could be taken to stop that sort of thing. Mr Mcllvride said the first step in solving the housing problem was to house that section of society who, by smallness of their wages, aire not able to put down a deposit or pay a' high |rent. To these people the 95 j>sr cent, fwas of no use, and the GoveJnment f ought to advance them 100 per oent. of 1 the cost of a home. Mr F. J. Rolleston (Timaru) said the solution of the housing problem rested with the State. Private enterprise was hopeless, and local bodies had. not been able to provide houses on the scale Anticipated because funds had not been available to them. The Bill would be a success in cases where the State -is the only mortgagee, but in, cases whert: a second mortgage came into the transaction he anticipated trouble, because the occupants would enter into engage-

ments with the second TtiorapjawW .ney could nover party. to see the Act of liberal grants to local hSra|Sj»H ing purposes, as they - ooj^^Bn central authority in Mr Masters said tiip'jfl§|jpw| welcome anything farming community,? partment, though never all the to come. All the wanted see the Gqvc^^™HH they did into the Ax;fc he thought the G build houses, ns private recommended the GovßtvrairasS into' what was b'inp; withl;he fixture of would 1)0- the best eolut?t^^^^wl ing difficulty; it a Doom in land' buyii&nmjMHj and in bo doingr might -MSMj crop of new' evils place of existing ones. stabilise things so reversion; of our sj stent-jguHH On the mdtlon of worthy the'debate was sj»|jraMj