LOANS FOR SETTLERS
OBJECTION TO SHORT TERMS From Our Oxen Correspondent TE KUITI, Today. A protest against the policy of the Local Governments Loans Board in only allow’ing backblock settlers shortdated loans, and these at a high rate of interest, was made by Cr. C. K. Wilson at a meeting of the Waitomo County Council. These loans, he said, were for a period of 20 years, whereas formerly the term was for 36 years at a rate of interest between 6 and 7 per cent. Cr. Wilson said that in some of the King Country districts settlers had been without metalled roads for over 25 years, and if they wished to raise loans they were forced to pay an extortionate rate of interest. Tho council decided to write to the board asking if something could be done to remedy this injustice.
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Bibliographic details
Sun (Auckland), Volume IV, Issue 1077, 15 September 1930, Page 11
Word Count
141LOANS FOR SETTLERS Sun (Auckland), Volume IV, Issue 1077, 15 September 1930, Page 11
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