LOANS TO FARMERS.

New Zealand Herald, Volume XXX, Issue 9305, 14 September 1893, Page 5

LOANS TO FARMERS.

[Br SELEGRAPH.PRESS ASSOCIATION.] Wellington, Wednesday. A deputation, consisting of nine M.H.R.'s, waited upon the Premier, the Colonial Treasurer, and the Minister of Lands tonight, and urged that money should be advanced by the Government to settlers under the perpetual-lease system and the lease in perpetuity, on the security of their improvements up to half the value of these improvements. The Premier recognised that a loan such as was suggested would be an advance from landlord to tenant. The security seemed good enough, and the only difficulty would be that of foreclosing and realising. The Minister of Lands said the time would come when the holders of leases in perpetuity would have means to borrow on their improvements. His own opinion, however, was that the present time wa3 too soon for that. The Act had only been nine months in force, and the matter was one in which great care would have to bo exercised. The Premier was also of opinion that the time was approaching when the State should lend at a reasonable rate so as to promote settlement. Next year, probably, the Government would be in a position to consider the matter, but there was no chance of doing anything this session.