ONE-FIFTH DEPOSIT 75 



return. Each application was considered on 

 its merits, and the final selection was carefully 

 made. One-fifth of the purchase price was 

 expected to be paid down before taking posses- 

 sion of a holding according to the terms of the 

 Act, but it is to be noted that where this was 

 impossible the deposit was allowed to stand 

 over in some cases for two or three years. The 

 balance was repayable in forty years, repre- 

 senting with the sinking fund an annual pay- 

 ment of 4 per cent, on the remainder of the 

 purchase money. 



Good substantial cottages with buildings 

 were erected on the same terms. Advances 

 were made to the holder, who himself super- 

 vised the erection of his home, paying the 

 money over as the architect certified the pro- 

 gress of the work. The general opinion seems 

 to be that these houses are unnecessarily large 

 for their purpose, but they are well built and 

 not conspicuously ugly. 



At the present time there are some twenty 

 small-holders on the village farm, the majority 

 cultivating seven or eight acres of land and suc- 

 cessfully earning a hving from their holdings. 

 In nearly all cases the original appUcants are 



