FINANCIAL NEEDS.

Hawke's Bay Tribune, Volume XIV, Issue 280, 6 November 1924, Page 4

FINANCIAL NEEDS.

OF FARMERS. SETTLERS AND WORKERS. CATERED BY ADVANCES DEPARTMENT. (Special to “Tribune.”) Parlt. Buildings, Nov. 6Mor© has been done ip New Zealand in the way of helping settlers, farmers and workers than in any other country in the Empire, declared the Prime Minister iu the House of Representatives yesterday. He was quite satisfied that no land bank such as had been suggested in some quarters could compete with tlie Advances to Settlers Department. The State Advances Department was always able to lend money at a lower rate than any bank. In saying that he wa R not anxious to stop'people from starting these other banks, but they should not seek to put the whole responsibility on the shoulders of th© State. He did not think .there was any institution in the Empire equal to the Advances to Settlers Department. the funds of which he hoped to strengthen after the passage of the Finance Bill. It might be a long wav off. but he looked forward to the dav when th© Stat© Advances Department would have a capital of £100,000,000. MUCH ABUSED MEASURE. Referring to the Farm Lands Mortgage Association Bill, introduced this session, Mr. Massey said that not a single word had been said in its favour, but everything that was detrimental to it had been said by people who ought to know better, and bv people who professed to represent the interests of the farmers. However, if suggestions for th© improvement of the bill were made during the recess he had no objection to asking. Parliament to pass the measure next session.