SOLDIERS ON THE LAND

Evening Post, Volume CII, Issue 36, 11 August 1921, Page 7

SOLDIERS ON THE LAND

CASES pFvHARDSHIP

FURTHER FINANCIAL ASSISTANCE.

The executive' 'of the New Zealand Returned Soldiers' Association recently pointed out to the Minister of Lands (the Hon. D. H. GuthrieJ that many returned soldiers were suffering hardship owing to the financial situation. Suggestions were made to the Minister, which it was considered might assist him in dealing with the matter, and Mr. Guthrie has now made the following reply*:— " The would appear to concern principally the soldier settlers who are sheepfarmers and graziers of stock, and the difficulties under which they labour are due primarily to the poor prices now obtainable for their wool and fat stock. " I have much pleasure in informing you that this matter has received the serious consideration of the Government, and it has been decided that the only solution of the difficulty ia in the direction ot providing further financial assistance by an adjustment of mortgages, with consequent increase in accommodation, such adjustment to relate only to those soldier settlers who are hard workers, who have done sterling work ia the,development of their properties, and whom I consider should Tbe offered every inducement to remain on the lands. ' - " Commissioners of Crown Lands^have now been instructed by me that further i advances may be made on the following Nlines:— ■ "(1) Where a soldier settler has effected improvements of a permanent character he may apply to the Commissioner of Crown Lands for a transfer for a sum not exceeding £260, _or 75 per cent, of the value of the improvements (whichever is least), and execute an instalment mortgage for the sum so transferred from his current account ; such mortgage to be for a period of 36j years with an annual charge of 6 per cent., in which is included interest at 5 per cent., rebate being at the rate of one-half per cent, for prompt payment of the instalment. In terms of ] the regulations, arrangements may be made at any time for a reduction of the principal owing. " (2) Upon an adjustment being made between the two mortgage accounts, the soldier settler would then be in a position of obtaining further accommodation up to the maximum allowed on cnrrent account, and advances may be made for the following purposes:— " (a) Advances against whatever equity there is in the property in excess of advances, in order that the soldier may be provided with the means of promptly discharging his most pressing debts. > . " (b) Advances against any further improvements that may be effected by ,a soldier, which may be made either in progress payments or in full,", as may be desired. The soldier would, therefore, be encouraged to effect further improvements, thereby increasing the productive capacity. of his property. " (c) Advances for the purchase of additional stock if it is considered that by this means the soldier will i improve his income from the property. " (d) Advances against the season's prospective lambing, tho Department being subsequently recouped upon receipt of the lamb cheque, in terms of the bill of sale, when the accounts between the Department and soldier will then be adjusted. "It follows that whatever financial arrangements are made improving the lot of the soldier, and possibly the security of a second mortgagee, the latter should see that it is to his interest that his claim in priority should be postponed to permit of the Government's increased accommodation taking precedence. It is hoped that the method by which further assistance may be given to returned soldiers will be fully appreciated by the Returned Soldiers' Association, and by those soldier settlers who have striven hard to jmprovo and develop their properties in their own in,t«e«t# mi Uw jntetoiA oJt tjae ootutfqt.".