STATE ADVANCES.

Marlborough Express, Volume XLIII, Issue 267, 12 November 1909, Page 7

STATE ADVANCES.

LAND SETTLEMENT FINANCE

NATIONAL ANNUITIES.

The Prime Minister's remarks on these questions in the Financial Statement were as follows:—

STATE GUARANTEED ADVANCES.

Tie extension of the Advances Department to provide for loans to local bodies and other useful reproductive objects is expected still further to promote the progress and prove of valuable ssivice in the development of the country. The restricted amount of capital available for the purpose under the present legislation has retarded the giving of access to new country and improving the positions of .those in the country: but under the new (scheme funds will be much more plentiful, although the terms may not be quite so advantageous to local bodies. , There are enormous undeveloped resources in the Dominion only awaiting sufficient capital to bring them into immediate use, and in return producing public and private wealth and income vastly in excess of the outlay :of public expenditure. I am - therefore sanguine enough to view the future witE the Highest hopes for the prosperity and success of the country, notwithstanding numerous pessimistic The new departure will aJEso be extended to the development of mining,, which, it is anticipated, will be parried into effect/ by increased assistance and facilities afforded by the new legislation which I have referred to, so that there can be no doubt whatever that greatly increased activity in this direction must result—that is the development of the mineral resources of the country, which ia of much importance.

LAND FINANCE, ETC,

In addition to the State Guaranteed Advances Bill which I have briefly alluded to, I' hope that the House this session will put on the statute-book a Land Settlement Fin-*----an'fce Bill. The passing of the measure will enable large areas of pri-vately-owned land, to be disposed of to those'desirous of obtaining land iii small areas by enabling them by an easy' procedure to obtain the necessary capital for the purpose. So also with the

NATIONAL ANNUITIES BILL, providing as it does* for the protection of those least able-to bear the Stress- of due to accident or sickness. This Bill also insures making suitable provision for the, widowed and fatherless. I trust that the* House will see,the wisdom of putting this important legislation into operation, so that those whom ih is intended to benefit may have the advantage* as early as possible of the protection which the scheme provides.