History of New Zealand. Vol. III.
25. Government Advances to Settlers. (Act passed in 1894.)
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25. Government Advances to Settlers. (Act passed in 1894.)
| Amount Authorized | £3,000,000 |
| Borrowed in London to 30th June, 1895 | £1,500,000 |
| Rate of Interest, Nominal | 3% |
| Proceeds | £1,416,600 |
Applications for Advances to 30th June, 1895—
| No. | Amount. | |
| Received | 2,156 | £884,453 |
| Dealt with | 1,552 | 559,855 |
| Approved | 965 | 354,907 |
Note.—The object of this measure is to reduce the rate of interest payable by producers in the Colony, and it is stated that it has to a certain extent already achieved that object.
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