FINANCIAL STRINGENCY

Waimate Daily Advertiser, Volume XXI, 11 August 1921, Page 5

FINANCIAL STRINGENCY

0 GOVERNMENT RELIEF. MORTGAGE ADJUSTMENT. Per Press Association—Copyright). WELLINGTON August 10. The difficulty under which many returned soldier settlers are labouring owing to financial stringency, was recently the subject of representations to the Minister of Lands, by the Executive Council of the New Zealand Returned Soldiers Association. A deputation pointed out that many exsoldier farmers were left in a positios of not being able to discharge their debts to storekeepers, who had supplied them hitherto with the necessaries of life on credit, and they now found it impossible to continue on those lines. The committee placed before the Minister several suggestions, which it was contended might assist him in alleviating some of the hardships being experienced, especially by those engaged in sheep farming.

The Minister received the suggestions favourably, and has now communicated with the secretary of the association in reply. “The trouble would appear to concern principally soldier settlers vho are sheepfarmers and graziers of stock,” he remarked, “and the difficulties under which they labour is clue primarily to the poor prices now. obtainable for their wool and fat stock. I have much pleasure in informing you that this matter has received tinserious consideration of the Government. - It has been decided that the only solution of the difficulty is in the direction of providing further financial assistance by an adjustment of mortgages, with a consequent imaeast. in the accommodation such adjustment to relate only to those soldier settlers who are hard workers, do have done sterling work in the. envelopment of their properties, an! ’. ; out I consider should be offered eveiy inducement to remain on the land.