NATIONAL ENDOWMENTS. NINE MILLION ACRES.

Taranaki Herald, Volume LIV, Issue 13480, 20 July 1907, Page 5

NATIONAL ENDOWMENTS. NINE MILLION ACRES.

FOR EDUCATION AND OLD AGE

PENSIONS.

The Prime Minister supplies us with the text of the National Endowment Bill, as follows: —

(1) This Act may be cited as the National Endowment Act, 1907.

(2) The Crown land described in the schedule hereto and hereinafter called national endowment land, is hereby set apart as a permanent endowment for the purposes of Education and Old Ago \Pensions. '

(3) Save so far as expressly provided by this Act, no National Endowment land shall be sold, nor shall any such land be disposed of by way of occupation with right of purchase under tho provisions of the Land Act, 1892. (4) Save so far as expressly provided by this Act, National Endowment land shall continue to be administered and dealt with in the same manner as other Crown land under the provisions of the Land Act, 1892. (5) First, the gross revenue received from National Endowment land after the 31st day of March, 1908, shall be paid by the Receiver of Land Revenue into the public account to the credit of a separate account, to be called "The National Endowment Account" ; second, all revenue received from National Endowment land on or before, tho said 31st day of March, 1908, shall be dealt with as ii the Act had nofc been passed.

(6) Out of the moneys in the National Endowment Account there shall be paid the cost of the administration of the National Endowment land, and also all sums which are now payable by law out of the revenues so received from that land .to any local or public author rities. (7) Of;/, the ..residue of the moneys in the Naiibnal Endowment Account, seventy per centum shall in each year be applied for the purpose of education; and thirty pet centum for the purposes of Old Age Pensions in manner hereinafter provided. . » (8) First, the moneys so available for the purposes of education shall be. applied from time to time without further appropriation than this Act, in payment of all amounts which by any Act now in force or hereinafter to be passed are charged on the Consolidated ITund for Educational purposes, whether higher, secondary or primary,- and whether "general or technical; second, the residue of the moneys so available for the purposes of education!, after payment of all such charges as • mentioned in the last preceding subsection-, shall be paid from time to time as ..the Colonial Treasurer directs, and without further appropriation than this, „ Act,, to the Education Boards for educational purposes in accordance with law, and in aid of annual appropriations made to the said Boards; third, an account shall be taken periodically, at such intervals being not less than one year, as the Colonial Treasurer directs, showing the amount of all moneys so received by each Education Board and 1 the amount so received by each Board shall thereupon be deducted from the total sum*payable to that Board by virtue of any annual appropriation. (9) The moneys so available for the purposes of Old Age Pensions shall from time to time, without further appropriation than this Act, be paid by the Colonial Treasurer into the Post Office Account, and shall be then ap T plied in the payment of the Old Age Pensions. (10) Notwithstanding anything in this Act contained, it shall be lawful for any portion of the National Endowment land to be set apart as a reserve for any purpose under the authority :of f any Act* in like joaanner this Act had not been passed. (11) First, notwithstanding anything in this Act contained, it shall be lawful for the Land Board of the district in whicli»stW Nationa^JEn4oT|nnj!nfeJand ncr and on suchterms as the said Ibaind Board, and t&p sai^ ..Mni^fcer think fit, any portloir'tflr sran^faira ilot exceeding five ae»»jW anytftm case,--«BWi9ss£> for any bullock to £o *rec&d for any) educational, .or public purports*: in Hhe -opinion of the* said Land BoAtS and ihe sai(iMinistW? renders sucji a scale expedient in. the public intereßtsV sedbnd* tine *fmteh&£ehiifoney of land so aoid;^hall^b«^paid^;intov the National Endowment Account. (12)- First, it «h*ll be lawful for the Colonial Trea}*urep J .:ft#ni ) time to time in accordance with.the^ provisions of sections 73 to 75/ of iilie-Local Bodies Loans Act, 1901, to issue and apply such sums of money, not exceeding in any one year the sum of'£50;000, as are appropriated by Parliament for the purpose of the formation of roads or bridges for facilitating th.e /.settlement ox "ant such land; second, the said sums shall be in addition to, and not in substitution for, the sums 'authorised to be expended by 'section 73 of the. Local Bodies Loans Act, 1901. The. ioljowmg. schedule shows the district areas or the National Endowment land : — Auckland, 900,000 acres ; Hawke's 8ay*:, 135,000; Taranaki, 90,000; Wellington. 90,000; Nelson, 1,350,000; Maryborough, 450,000; Westland, 1,035,000; Canterbury, 1,800,000; Otago, 2^2SQ#QO; Southland, 900,000; total, 9,000,000.