STATE ADVANCES DEPARTMENT.
WHAT IS BEING DONE. STATEMENT BY THE MINISTER. (Psa Ukitbd Press Association.) WELLINGTON, November 16. ToVday the Minister of Finance supplied 6ome information to a reporter with regard to the work of the State Advances Department. He said he did not wieh an impression to exist that the department was relaxing its activities as a result of the -war. The total amount paid out by the State in the form of advances to settlers, workers, and local bodies up to the present time had been £21,915,745. Settlers had received £16,339,555, workers £3,025,370, and local bodies £2,550,820. During October the advances under the three headings had been as follows:—Settlers, £65,865; workers, £23,240; local bodies, £7045. In addition to these sums there had been paid out of earnings into the sinking fund investment account, £19,745. The average receipts of the State Advances Department by way of repayment were £55,000 monthly, and this money, together with loan funds which were available, and which had been obtained beyond New Zealand, enabled the department to meet reasonable requiremgnta, provided that securities were satisfactory.
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Bibliographic details
Otago Daily Times, Issue 16543, 17 November 1915, Page 3
Word Count
181STATE ADVANCES DEPARTMENT. Otago Daily Times, Issue 16543, 17 November 1915, Page 3
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