STATE ADVANCES.

Otago Daily Times, Issue 20591, 14 December 1928, Page 13

STATE ADVANCES.

SIR JOSEPH. WARD’S POUCY.

INCREASED LAND SETTLEMENT,

(Special to Daily Times.)

WELLINGTON, December 13.

. . The 'Prime Minister ■ (Sir Joseph Ward), in placing hjs financial proposals before the Souse of Representatives tonight,; said the present rate of lending was 5f per cent., but there was every indication that the rates of interest were gradually failing. He hoped to begin by gradually reducing the lending rates. ’ In'regard to the: State Advances Department, the Prime Minister said ‘hat for £3,000,000 had been waiting since February, 1027, to date to be'provided for. These applicants would need to have their valuations made before the money be obtained. He proposed to arrange for the necessary amount, 'and arrange . this . without unnecessary delay. . Mr J. A. Nosh (Palmerston) : Will jou appoint additional valuers? Sir Joseph Ward; An increase of valuers -will be essential.

Sir Joseph went on to say that in regard to homes the policy would be not to enable speculation to be carried on. The money would be lent to those who had no homes or lands. Qis object was to. create fresh occupants for? homes in town. and country. A farm or a home that had a mortgage on it already was not to be provided for. < What he had decided upon was a continuation of the present policy.