DEAR MONEY.

Colonist, Volume LVII, Issue 13783, 2 June 1915, Page 2

DEAR MONEY.

INTERESTING FIGURES

CAUSE OF HIGH RATE OF

' INTEREST.

("Marlborough Express.") During the course of an interview with a reporter, Mr. R. McCallum, M.P., supplied some interesting figures obtained from the Government Statistician's monthly publication concerning the working of the Advances to Settlers Office. Said Mr. McCallum: Everybody knows that, looking back over the last ten years, the year ending March 31st, 1912 (or election year, as the present Government term it), stands out preeminently as the best year for the small farmer as well as the worker as far as the Government Advances Office is concerned. During that year the I usefulness of this department in the direction of assisting the borrowers and keeping the rate of interest down reach.cd high-water mark. "The following are the figures:— £ 1912 —Amount advanced in 4610 loans 2,174,085 Amount repaid by former borrowers 1,018,286 Increase £1,155,799 "The following years, during the Massey Government's term of office, are as follows: — 1813, March 31sfc-r-Amount advanced in 2114 loans 850,300 Amounts repaid 693,511 Increase £156,789 1914, March 31st—Amount advanced in 2390 loans 973,003Amounts repaid 700 3 253 Increase • £272,752 1915, March 31st—Amount advanced in 233S loans 996,915 Amounts repaid 736,407 Increase £260,508 1915, Mar. quarter—Amount advanced in 369 loans . 144,985 Amounts repaid 149,024 "This shows," said Mr. McCallum, "that after nearly twenty years of solid usefulness, the scheme hats now 'run dry,' and for the first time the withdrawals have exceeded the advances. No wonder," he added, "the money-lenders are having the time of their lives and are eminently satisfied at the present state of the money market and the conduct of the Government from a financial standpoint."