THE HOUSING SCHEME

Otago Witness, Issue 3442, 2 March 1920, Page 16

THE HOUSING SCHEME

WHAT THE GOVERNMENT IS DOING. (Fjzoii Oub Own Co-respondent.) WELLINGTON, February 24. So much interest auaclies to the housmg scheme that the most recent tacts and figures regarding it will no doubt prove oi interest. l'he Government has already entertained the following applications tor loan moneys: r'almcrston INorth Borough Council, £10,000; Woodviile County Council, £400; Aianaia Town Board. £10,000; Eltham Borough Council, £10,000; Manawatu County Council, £2000; Kiwitea County Council, £7500; Hawera Borough Council, £10,0011; Kaponga -Town Board, £10,000; Whangarei Borough Council, £10,000; Hutt County Council, £3000; Rangitikei County Council, £2500. Applications have ' bqen received as follows, but have not yet been granted: Waipukurau Borough Council, £10,000; Taumarunui Borough Council, £8000; Marton Borough Council, £I6OO. In addition to the above grants and applications, inquiries have been received as follows: Christchurch City Council, £200.000; Auckland City Council, £50,000; Wellington City Council £10,000; New Plymouth Borough Council; £10,000; Te Awamutu Borough Council, £10,000; Morrinsvihe Town Board, £10,000; Franklin County Council, £10,000; Egmont County Council, £5000; Waipawa County Council, £300; Kawhia Town Board, £1600; Ohura County Council, £7OO. Thu s the total amount of applications and inquiries amount to no less a sym than £405,300. It is also to be remembered that, in addition, the State Advances Department is paying out of advances to. settlers and advances to workers' accounts an amount approximating £1,000,000 per annum in providing homes for the people. This amount represents advances for building houses, for buying houses, and for assisting in the repayment of mortgages on houses. The Prime Minister to-day stated that it would be necessary for local bodies to limit their, expenditure on this account to moderate amounts, otherwise difficulty would be experienced in borrowing large sums. As long as the amounts applied for were moderate, advances could be managed by the ■ Government. If, however, large sums were required, it would be necessary for the Government to go outside the dominion. The Home market was practically closed to us at present, except at high rates of interest. It would cost the Government fully 6 per cent, to borrow in London at present, and payments for public works', native land settlement, railway improvements, *war expenses, gratuities to soldiers, and various other accounts were being provided for out of the loans raised within the dominion. Hence the necessity for care and economy on the part of local bodies in taking advantage' of the legislation of last session.