STATE ADVANCES

Evening Star, Issue 19044, 12 September 1925, Page 2

STATE ADVANCES

CLEARING UP ARREARS FOIJR OR FIVE BULLION LOAN. [FrOJI OUR. rARLIAMEXTAHIr RcrORTEK.I WELLINGTON, September IL So much has been said uy members tins session regarding tho disappointmerit of their constituents who had vainly waited for State loans that the Minister of Finance (Mr Newsworthy) wisely anticipated their further complaints when tire State Advances Estimates were considered to-night, by making a statement to demonstrate that a vigorous policy has been adopted to clear off arrears. He reminded tho House that he previously indicated that two millions ot now capital had been provided, and that repayments enabled lie department to provide £1,250,000 annually for new loans. With tie additional capital to be raised this year the office would bo able, if tho present rate of applications continued, to overtake last year’s arrears and clear up tie position by March 31 next. Pro hably a loan of between four and five millions would bo raised. Ho anticipated no difficulty in finding tie money, and expected within a few weeks to be able to make an announcement regarding tie terms. “ Loans raised now will not be at' the low rate of past years,” added the Minister; “consequently it may bo necessary to increase the rate of interest to workers and settlers. But I will not do it unless it is necessary.” Ho assured the House that, the Government was very anxious that there should be no delay in clearing up tic arrears of applications. Mr Forbes; How far are you behind now? That would be some information to the people waiting. Mr Nosworthy: March or April last —we have that to make up.