ADVANCES TO WORKERS.

New Zealand Herald, Volume XLIII, Issue 13305, 11 October 1906, Page 7

ADVANCES TO WORKERS.

Sir, —i tail to see the necessity for indulging in hysterical rhapsodies over the advances to workers' scheme. A man lias to acquire a section worth at least £100, equal to, say, £5 per annum; the £300 Government loan, at 5 per cent., will cost £18 per annum, and will be wiped out in 36i years; but. for that, matter, so will the house, if built, jerry-fashion, in wood, and a brick house of decent proportions can certainly not be erected for much under £500, with good fittings, etc., included. In England 40 years ago, with money much dearer than it is • now, it was easy to obtain a loan for building or estate-improvement purposes at 6 per cent., tho debt discharged after 20 years' payment. A bigger advance, and brick or concrete constructions for towns and suburbs would, in the end, be far more economical for the Government and for the borrower. The definition worker" might in- • clude men and women in receipt of salaries or incomes up to £300. One good effect the Bill will have—it will make the various building societies act with more generosity. H.J.