CHEAP MONEY WANTED FOR BUILDING

Evening Post, Volume LXXXIX, Issue 7, 9 January 1915, Page 8

CHEAP MONEY WANTED FOR BUILDING

DEPUTATION TO THE PREMIER THE GOVERNMENT'S POSITION. The interests of sawmillers and certain sections of the building trade .were brought under the notice of the Prime Minister (Right Hon. W. F. Massey) by a deputation to-day. In introducing the deputation, Mr. R. A. Wright, M.P., said the deputation represented builders, architects, and owners of timber country in different parts of New Zealand, who desired to bring under the j notice of the Prime Minister the same subject that was put forward by another deputation in regard to the moratorium. Mr. Massey: As a matter of fact, the moratorium does not apply to sawmillI inß- • Mr. F. T. Moore said the owners of timber land considered that the proposition made by the sawmillers to suspend payment and rents and royalties on timber lands was unfair. Mr. Massey: It never made any proposal to suspend the payment of rents on timber lands. Mr. Moore: On royalties? Mr. Massey: Royalties on Crown and Native lands. Mr. Moore said that in many cases the Native cutting rights had passed to European holders, who were dealing with the sawmillers. Most of the Natives were dependent on these royalties for their living. Mr. Massey: You are urging the case of the man who comes in between fcho Native owner and the sawmiller? STATE SHOULD COME TO THE RESCUE. , Mr. Moore: "Yes." He added that in. such cases the person concerned suffered very great hardship. He urged that the State should come to the rescue of men who wanted to build and find the necessary money, so as to prevent sawmills being obliged to close down, which had happened, in some cases partially and some wholly. He quoted several instances in support of his statement that the only way to set the industry on its legs again was for the State to come to the rescue and find the money, so that people who wanted to build could borrow the money and keep the industry going. His own opinion was that the position could bo met by the temporary issue of State notes. Mr. Massey: I think we'll stop at that. (Laughter.) Mr. Moore : "You don't think the position could be met in that way?" The banks, he added, had plenty of money, and he urged that the Government should give its guarantee for loans _to men who wished to* borrow for building purposes on sufficient security. Mr. Mackrow, speaking as a builder, said that the difficulty was that the building loans granted by the Government were either too email or too long delayed. The result was that many small builders were idle. "What we want," he added, "is cheap money, and plenty of it." MR. MASSEY IN REPLY In replying, Mr. Massey said that in regard to royalties on Crown lands, the previous deputation, representing the sawmilling industry, made what seemed to him a reasonable request. However, there was no possibility of doing anything until after the holidays, and just a few days ago he referred it to the Lands Department, with a request for a report. That report would come to hand in a day or two, and would probably be considered by Cabinet at its next meeting. As to the royalties on Native lands, the moratorium did not apply, and could not be made to apply without legislation. Parliament would not meet for legislative purposes until towards the end of June, and he could not promise that the eubject would be dealt with, though he hoped that by that time the end of the war would be in sight. WHAT THE GOVERNMENT IS DOING. With regard to the request for an additional supply of money from the Government, hie said he hardly thought the public understood what the Government is doing in this connection. He knew that the war had had 'a serious effect on the timber industry, but the Government had done everything possible to meet the difficulty that had arisen. Take the cae« of the Advances to W T orkers Act. That Act was in full operation to-day, and £5400 was being advanced in each, case where sufficient security was provided. It was not the Government which lent the money. No Minister had anything to do with it. If he attempted to interfere with the lending of the money the board would probably tell him to mind his own business. The board was independent of Ministerial control. The board's only business was to see that there was sufficient security, and when sufficient security was offering the money was there. As to the Advances to Settlers, the Government was actually giving a preference to those who wanted to borrow money for the purpose of building. He did now know what more the Government could do. PAPER MONEY. As to the issue of paper money for the purpose, it would only mean the issue of so many promissory notes, which would have the worst possible effect on the credit of the Dominion, and might cause serious financial depression. When the' money market was suitable the Government would take care that an additional supply of money was brought into the country for the purposes required. When the war broke out the finances were very satisfactory, more satisfactory than they had been for many years. But the Government's first duty was to keep sufficient money so 'as to see that there was no unemployment, or as little unemployment as possible. If it had become necessary to close down Public Works they could imagine what a very serious state of affairs would have resulted. ' The Government had not found it necessary to discharge a single man, for financial reasons, and it had kept enough money in hand to keep things going for a long time. The Government fully realised the seriousness of the position, but he was glad to be able to say that, from reports he had received, matters are better than they were some- time ago. Take, ior instance, the erection of workers' homes. There were more now in course of erection than at any previous time in the history of the scheme. Mr. Moore: You are using a lot of Oregon pine in;some»of them. Mr. Massey: "I did not know we were, and I can assure you that I am very strongly in favour of giving preference to our own industries. If I had been told that, I would have stopped it long ago." He would, he said in conclusion, give careful consideration to the representations of the deputation. Mr. Moore: I think you might have taken up the paper money scheme and so captnred the votes of Labour members in the House for the next three years. Mr. Massey: I am not buying votes. (Laughter.)

The Public Service Commissioner invites applications for the position of vine and wino instructor., for the DeDVtnwat of