FINANCE SOUND

Northern Advocate, 2 December 1921, Page 5

FINANCE SOUND

NO MORE LOANS.

DURING CURRENT YEAR.

MR MASSEY WILL EXPLAIN.

(Special to "Northern Advocate.") WELLINGTON, This Day.

The ibalancc of the soldier settlement loan was mentioned in the House yesterday. The Prime Minister said that the 'total amount of the subscriptions had been about £5,000,000. He had inquired as to possibility of securing the balance of one mil Lion by the application of the compulsory clauses, but had been informed by his officers that this v/ould cause gx-eat hardship to many people. He had decided not to attempt 'to enforce .the compulsory clauses at present, but in the meantime he had found the money for soldiers from other sources, so that the settlement scheme had not suffered. Most of the money had already been expended. Tihe repayments were being used for advances to soldiers.

The Prime Minister added that he could say definitely 'that he did not intend to go to the London money market again during the current financial year. He believed that the Government could finance its operations un,t ; l April or May next, perhaps a little longer. Mr Hanan: "Provided that you cut down your proposals." Mr Massey: "I should like to take members into my confidence in regard 'to what is being done and what is intended to be done; but until we got the tariff out of the way it is impossible to say as much as I would like to say. When we get the tariff out of the way I will tell members exactly what we arc doing, and what we intend to do. I think they 'and the people of this country will be surprised at the information. The Government's proposals are being carried out."