The Rural Credit System Needed in Western Development
The Rural Credit System Needed in Western Development
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In our eReader you can find the full English version of the book. Read The Rural Credit System Needed in Western Development Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Rural Credit System Needed in Western Development
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The lands were disposed of to settlers on the payment of 3 per cent of the cost, the remainder being paid in 31^ years with interest at 4% per cent and amortized payments at 1% per cent, making a total of pay- ment for principal and interest each year 6 per cent. Each settler was required to deposit about 20 per cent of the cost of leveling the land and about 40 per cent of the cost of houses and other buildings, the State furnishing the re- mainder and the settlers repaying these advances in f...rom 11 20 to 30 years with interest at 5 per cent. Where the settler made his own improvements the State could loan him up to 60 per cent of the value. Experience has shown that with this aid nearly all the settlers succeed. Without it fully two-thirds of them would have failed. The finan- cial returns have been entirely satisfactory. It has brought important benefits without any cost to the general taxpayer.
How MONEY Is OBTAINED The money for the purchase of land and making loans to settlers is obtained in the Australian States as a rule from the State Savings Bank.
What to read after The Rural Credit System Needed in Western Development?
You can find similar books in the "Read Also" column, or choose other free books by Elwood Mead to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The lands were disposed of to settlers on the payment of 3 per cent of the cost, the remainder being paid in 31^ years with interest at 4% per cent and amortized payments at 1% per cent, making a total of pay- ment for principal and interest each year 6 per cent. Each settler was required to deposit about 20 per cent of the cost of leveling the land and about 40 per cent of the cost of houses and other buildings, the State furnishing the re- mainder and the settlers repaying these advances in f...rom 11 20 to 30 years with interest at 5 per cent. Where the settler made his own improvements the State could loan him up to 60 per cent of the value. Experience has shown that with this aid nearly all the settlers succeed. Without it fully two-thirds of them would have failed. The finan- cial returns have been entirely satisfactory. It has brought important benefits without any cost to the general taxpayer.
How MONEY Is OBTAINED The money for the purchase of land and making loans to settlers is obtained in the Australian States as a rule from the State Savings Bank.
What to read after The Rural Credit System Needed in Western Development?
You can find similar books in the "Read Also" column, or choose other free books by Elwood Mead to read onlineMoreLess
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