CHEAP MONEY.
[ As an example of the benefits accruing from the Government's cheap-money Bcheme, a settler in this district called upon .us (Oamaru Mail) to-day • and informed ub that the mortgagee holding a Bmall mortgage over his property had f reduced the interest from 7 per cent to I 5 per cent. The mortgagor had contemplated borrowing from the Government and paying off the mortgage, and it was to prevent thiß that the concession referred to was made. This is exactly what the Government aimed at in inaugurating the scheme . their object was not so much to lend money as to make the market price of it sufficiently reasonable to permit of settlers who have been forced, by depression, to borrow, doing so without being hopelessly crushed by a burden of debt. The Government do not wish to lend a shilling 80 long as farmera can obtain money elsewhere at 5 per cent.
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Bibliographic details
Star (Christchurch), Issue 5158, 17 January 1895, Page 3
Word Count
153CHEAP MONEY. Star (Christchurch), Issue 5158, 17 January 1895, Page 3
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