Management of Forward Funding and Undisbursed Costs

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1896 edition. Excerpt: ...it altered in the Legislative Council. I do not think it is right that Maoris should be bound down by a provision so that they cannot utilise their land and make use of it for the benefit of their families hereafter. Mr. R. THOMPSON.--The last speaker, Sir, is evidently under a misapprehension as to the provisions of this Bill. Mr. PARATA.--No. Mr. R. 'I HOMPSON.--Well, I think you are. I hold, Sir, that if a Native holds a Crown grant for his land, and holds an individual title, he has as much right to get money under the Advances to Settlers Act as a European has. It all depends on the question of title, and security. Of course, where the Natives hold title merely as a hapu or tribe, that is a very difierent thing entirely--they cannot borrow; and I hope this will be an inducement to the Natives, as far as possible and as quickly as possible, to individualise their titles, so that each Native will become an owner of land in fee-simple. They would then have all the advantages that are enjoyed by other settlers. But what I would like to point out to the Minister is that the greatest care should be exercised in advancing money on leasehold land. I am afraid the State will run a great risk of losing their money altogether. It is this class of security where the greatest care will-require to be exercised, and I myself know of instances where attempts have been made to borrow money from the Lending Board on a class of security which, if the application had been granted, I venture to say the State would never have seen the money again. I hope, Sir, the Minister will impress that upon the Lend-ing Board--that all applications that are made on the security of improvements on leasehold lands will be very carefully examined, and that the...