STATE ADVANCES

Evening Post, Volume CVII, Issue 150, 29 June 1929, Page 11

STATE ADVANCES

LOANS TO DATE

GOVERNMENT TAKES CREDIT

Figures- indicating the iotal amounts issued to settlers and worker's, since the .Government assumed, office were read to the House of Eepresentatives last night by the Prime Minister (the Eight Hon. Sir Joseph Ward). ■ The loan authorities to settlers from 10th Juno to 27th June, he said, amounted to £1,987,270, payable to 1648 applicants, and 2297 workers had received £1,988,325 —a total to 3945 workers and settlers of £3,975,590. The moneys actually paid over amounted to £.1,471.----485 to 1193 settlers, and £1,237,570 to 1403 workers—a total of £2,709,555 to 2596 applicants.

The Prime Minister went on to outline the present position of applications, for loans. All arrears of applications, outstanding at 10th December last, he said, had been dealt with. Applications received since, and up to the beginning of May, had also been dealt with, and in every case where the valuation had been received the application had been considered by the Valuation Board. At present the Department was dealing with< applications received since the beginning of last month, and in all cases instructions had been given for the necessary valuations to be made.

Sir Joseph said that such liberality in connection with the outgoings. from the State Advances Department had enabled a lot of extra employment to be provided, and had put more money into circulation. It had reflected upon trade, and had added life, to the activities of the country generally The Government was entitled to take credit for that. There could be no doubt that in the present- difficult .times, the circulation of this, money had done a great. deal of good to"> the country.