Page 7 Advertisements Column 1

Gisborne Times, Volume XXVII, Issue 2552, 13 July 1909, Page 7

A few days ago a paragraph appeared in the “Eltham Argus” stating that some persons were borrowing money from the Advances to Settlers’ Department and lending it at a higher interfist. The paragraph was brought under the notice of the Acting-Prime Minister (the Hon. J. Carroll), who is in charge of the Department concerned, and the superintendent of the Advances to Settlers’ Office (Mr. Pi Heyes), by a “Post” reporter in Wellington. _ In reply to inquiries it was ascertained that only one case .of the kind mentioned had been discovered. Applicants for loans are required to state, on forms supplied by the Department, what a loan is required for; and the valuers, in their reports, are required to state whether, in. their opinion, the money that may be advanced will be ised “judicially.” As a matter of fact, this little word covers, a lot of things, > aluers being specially instructed to inquire whether there is any probability of the money being re-lent at an advai/eed rate.' The Department limits itl Pa (trances now—and has done ro iVtr f hr*’last twelve months —to £SOO, so that in any case a transaction of the kind suggested by the paragraph of the “A.rguS.” would return the original borrower comparatively little for his trouble. The one authenticated case referred to did occur in Taranaki, but Air. Heyes states that there is no reason to suppose that- such" a .thing is general, if it exists at all. The Department at all times, lie says, does its best to conserve the interests, of the peqp’e who wish to borrow from it for legitimate purposes.