SOLDIER FARMERS

Otago Witness, Issue 3519, 23 August 1921, Page 9

SOLDIER FARMERS

tiie financial stringency. GOVERNMENT CONCESSIONS. The present financial stringency w being felt very greatly by soldier farmers, and recently a deputation from the headquarters of the N.Z.R.S.A. waited the. Minister of Lands to ask his consideration of several points which it was hoped would alleviate some of the hardships at present being undergone. The following reply from the Minister gives his present attitude upon the matter: —“With reference to your letter of the 27th ult.. iu which attention was directed to the difficulties under which many of the soldier settlers labour during the present period of financial stringency, which leaves them in a position of not being able to discharge their debts to storekeepers who have supplied them hitherto with the necessaries of life on credit, but now find it impossible to continue on these lines, I have to advise that the trouble would appear to concern principally the soldier settlers who are sheep farmers and graziers of stock, and the difficulties under which they labour are due primarily to the poor prices now obtainable for their wool and fat stock. I have much pleasure in informing you that this matter lias received the serious consideration of the Government, and it has been decided that the only solution of the difficulty is in the direction of providing further financial assistance by an adjustment of mortgage-, with consequent, increases in aeeommode-ion. wh adjustment to relate nnlv o tlir.-c sol.iie. sc: tiers who are hard wwlci--. who have done sterling work in the development of thru properties, and whom I con-idor should he offered every inducement to remain on the lands. Commissioners of Grown Lino- have new been instructed by me that further advances may be made on the following hues: “1. \Vh‘*re a soldier settler has effected improvement- of a permanent character lu> may apply to the Commissioner of Crown Lands for a transfer of a sum not exceeding £250, or 75 per cent, of the value of the improvements (whichever is least), and execute an instalment mortgage for the

sum s:> transferred from his current account, such mortgage l-o he for a period of 36£ years, with an annual charge of 6 per cent., in which is included interest at 5 per cent., rebate being at the rate of £ per cent, for prompt payment of the instalment. In terms cf the tegltlations arrangements may be made at any time for a reduction on the principal owing. “2. Upon an adjustment being made upon the two mortgage accounts, the soldier settler would then be in a position of obtaining further accommodation up to the maximum allowed on current account, and advances may be made for the following purposes : ” (a) Advances against whatever equity there is in the property in excess of ad- ! vances, in order that the soldier may be I provided with the means of promptly dis- 1 charging his most pressing debts. ; “ (b) Advances against any further im- : provements that may be effected by a soldier, which may be made either in progress payments or in full, as may be desired. The soldier would, therefore, bo encouraged to effect further improvements. thereby increasing the productive capacity of his property. “ (c) Advances for the purchase of ad- i ditional stock if it is considered that by this means the soldier will improve his income from the property. “ (d) Advances against the season’s prospective lambing, the department to be subsequently recouped upon receipt of the lamb cheque, in terms of the bill of sale, when the accounts between the department and soldier will then be adjusted. ‘Tt follows that whatever financial arrangements are made improving the lot of the soldier, and possibly the security of a second mortgage, the latter should see that it is to his interest that his claim in priority should bo postponed to permit of the Government’s increased accommodation taking 1 precedence. “It is hoped that the method by which further assistance may be given to returned soldiers will bo fully appreciated by the Returned Soldiers’ Association and by those ! soldier settlers who have striven hard to improve and develop their properties in their own interest and the interests of the country.” j