ADVANCES TO WORKERS.

New Zealand Herald, Volume XLVIII, Issue 14808, 11 October 1911, Page 5

ADVANCES TO WORKERS.

SCHEME TO ;BE EXTENDED. fBY TELEOteAPH.— COBJIESPONDENT.] . Wellington, ■-.' Tuesday. ii' A bill to amend the State-guaranteed Advances Act was introduced in the House of Representatives this afternoon. ;Vjlt provides for« an [ increase in the amount which can be borrowed by the Government in any one year for advances to workers ' from £500,000 to £750,000. A proviso is added that if the total amount is not borrowed in any one year the ' balance can be added on to the next year's borrowings. The clause in the principal Act i of 1909 regarding security for advances Has been amended by the deletion of the reference to the proposed dwellinghouse, and the sub-section now reads:—-'.' Not more than £450 shall be granted to any one borrower, and no advance shall .be granted exceeding three-fourths of the value of the security in the case of freehold land, or three-fourths of the lessee's interest in the lease in the case of leasehold land."

The advances made to workers during the past three years in the different' districts have been as followsChristchurch, £223,055 Wellington, £136,820 ■; Auckland, £143,530; Dunedin, £70,670 Pal, merston North, i £18,375; Wanganui, £80,405 New i Plymouth, £2115 Napier, £24,855 ; and Nelson, £6710. • -~ - • " '