C.—9.

2

Eligible discharged soldiers receive preference by the Land Boards for all lands thrown open for ballot, and there is therefore, at the present time, no necessity to sot apart Crown lands for discharged soldiers only. Thus in the event of a block being opened and there being no soldier applicants, the sections could then be allotted to any civilian applicants who had applied, thereby avoiding loss in revenue owing to the sections lying idle awaiting a soldier applicant. There are, however, at the present time some 12,797 acres, comprising forty sections, which are being retained for discharged soldiers. Up to the present these sections have not been very freely inquired for, but they are gradually being disposed of to suitable applicants. The sections mentioned above, of course, in no way indicate the total area available for settlement by discharged soldiers, as at the present time there is available a total area of nearly half a million acres. Discharged Soldiers Settlement Amendment Act, 1923. Part I of this Act contains sixteen sections, the general purpose of which is to enable relief to be given to discharged soldier settlers. Section 2 authorizes the Governor-General to establish a Central Revaluation Board, to be known as the Discharged Soldiers Dominion Be/valuation Board ; while section 3 authorizes the Minister to appoint, on the recommendation of the Dominion Board, such number of District Valuation Committees as may be necessary to assist in and expedite the work of revaluation. The functions of the Dominion Board, in addition to recommendations in connection with appointments to the District Committees, briefly comprise— (I.) The consideration of reports on applications for relief and revaluations received from the District Valuation Committees. (Section 8.) (2.) The determination of what reductions (if any) are to be made in capital values or rents or in mortgages securing debts duo to the Discharged Soldiers Settlement Account. (Sections 8, 9', and 10.) (3.) The recommendation of postponement for such period as the Minister may think fit of any instalment of principal or purchase-money, or of any rent or interest due on the passing of the Act; and of remission, wholly or in part, of any rent or interest due on the passing of the Act. (Section 11.) The remaining sections of Part 1 deal with the making of applications, the extension of the term for the payment of the value of buildings on certain lands, the extension of the provisions of the Act to persons other than discharged soldiers who are entitled to acquire land and receive advances under the Discharged Soldiers Settlement Act, 1915, and miscellaneous matters in connection with revaluation. Fart II of the Act, comprising ton sections, contains provisions which experience has shown to be necessary for simplifying procedure and facilitating administration under the Discharged Soldiers Settlement Act generally. Regulations. During the year several amendments were made to the regulations under the Discharged Soldiers Settlement Act, 1915, the principal ones being regulations fixing fees for the perusal of documents in connection with the transfer or conveyance of lands from the Crown to purchasers thereof; empowering the Minister, on the production of evidence that the advances that may be granted on current account are insufficient for the successful working of a farm, to authorize' advances up to such limits and for such purposes as he thinks fit; and prescribing the half-yearly instalments of purchase-money and interest payable under certain mortgages, and the half-yearly instalments of principal and interest in respect of certain deferred-payment licenses. Regulations were also issued under section 16 of the Discharged Soldiers Settlement Amendment Act, 1923, prescribing the necessary forms for the application by discharged soldiers for revaluation, and for the report and valuation of the District Committees, &c. Revaluation op Soldier Farms. A brief resume of the operations of the Dominion Revaluation Board is appended to this report. Financial Review. Discharged Soldiers Settlement Account. Capital.— -The total amount raised under the authority of the Discharged Soldiers Settlement Act to the 31st March last amounted to £20,069,066, of which amount £37,500 was borrowed during the year. Rather than borrow fresh capital the Treasury left a sum of £540,000, representing interest owing to the Consolidated Fund, in the account to enable, the Department to discharge its liabilities in respect of advances authorized for the erection of dwellings. Advances authorized, &c. —The sum of £21,863,500 has been authorized to 22,213 returned soldiers from the commencement of operations under the Discharged Soldiers Settlement Act. This exceeds the actual borrowed capital by £1,794,432, capital receipts having been applied towards making further advances.