LOANS BY THE STATE.
RAISING OF LIMITS.
STATEMENT BY THE PREMIER.
A statement regarding advances by the State-guaranteed Advances Hoard was made by the Prime Minister yesterday. The financial position, despite the war, s£.id Mr Masse)-, had improved so much that the Government had been able to recommend the board to increase, the amount that might be lent to workers from £400 to £450, this being the limit allowed by law. The limit for county councils had been raised from £2000 to £5000. In regard to settlers, increased facilities had also been provided. Arrange. menta had been made, by means of which settlers could now borrow up to £450 for the purpose of paving off old mortgages which had been raised at higher rates of interest than those charged by the board. Preference would be given to applications for loans up to £450, for the purpose of building houses. The tota' amount which an individual settler :juld now borrow was £1000.
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Bibliographic details
New Zealand Herald, Volume LII, Issue 15932, 1 June 1915, Page 9
Word Count
161LOANS BY THE STATE. New Zealand Herald, Volume LII, Issue 15932, 1 June 1915, Page 9
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