LIBERTY LOAN.

Press, Volume LIII, Issue 15989, 25 August 1917, Page 8

LIBERTY LOAN.

A PROGRESS REPORT. (P11153 ASSOCIATION TF.LESR UI.) "WELLINGTON, August 24. It is a very satisfactory sign that so far tho oarly subscriptions to tho War Loau exceed in proportion thoso received during the samo period of tho successful loan of last year. The latest figures show a total received exceeding plus £230,000, of which j £30 000 is to bo subscribed by the State ! fire 'office. Mo doubt other insurance offices will follow suit. There is thus a total of £616,000 detinitely ascertained. Tho question has been raised as to whether tho Government wishes Savings Bans depositors to invest their monoy in the War Loan, as in any case the monev is at tho Government's disposal. The answer to this is that as investment in the War L-oan fixes the money for a definite period ot years, and in the Savings Bank it is at call, depositors will be helping the State better bv investing in the War Loan. " Quite a number of enquiries have been made as to the nature of the inscribed stock. If an amount is invested in inscribed stock, thero is no bond or debenture issued, particulars of tho amount invested being recorded by tho Registrar at the Treasury, and interest being paid on warrants issued by tho Treasury half-yearly. The advantage of inscription is that tho public who invest have no document which can be lost or stolen, and transfer of tho stock by sale to any other person can only bo effected by the holder giving written notice of the transfer to tho Treasury. It is intended to issue to thoso requiring it a certificato which will indicate tho amount inscribed, but this document will not be of any value other than an indication of entry in tho Treasury books. It could not be used by any person into whoso possession it might come improperly, as tho stock can only be transferror! on sale after proper notice has been given to tlio Treasury. A PATRIOTIC DUTY. (SPECIAL TO "TIIE PRESS.") WELLINGTON, August 24. Rofcrring to tho Now Zealand War Loan, Sir Joseph Ward this afternoon said that any man of business would stato that ho could do a great deal moro with his money by turning it over half a dozen times in the year, than by investing it in inscribed stock at 4-i per coat. Hundreds of people wore, however, investing in tho War Loan simply out of a sense, of patriotic duty, many pooplo borrowing money to put it into tho loan, but tlioro wore some peoplo with money, he was sorry to say, who had put nothing in at all. • Mr Wilford: Hit them to the boundary if they won't part. Sir Joseph Ward added that tho Government were asking for power to compel these people to subscribe to tho War Loan if it woro considered necessary. THE SUPPORT OF LARGE LENDERS. (SPECIA-, TO ''THE PRESS.") WELLINGTON, August 24. "We want the largo income taxpayers to put their money into the war loan," said Sir Joseph Ward in the House of Representatives to-day. "Unless wc have largo lenders in this country we could not obtain tho money we .require." It would bo a bad day, hp added, when the country had not a considerable section of the community who had the money to put into tlio war loans or the securities upon which to raise such money. It was not desirablo to levy more taxation now than tvas necessary for war and ordinary expenditure. * Any country that could keep its taxation down to tho lowest point possible was, after the war, going to be in a position to enable it to compete with other countries, and to qllow captains of industry and the small men with incdmes of £-100 or £500 a year to give wider and better employment to tho men employed. At a meeting held yesterday, thei directors of Aslfby, Bergh and Co., Ltd., unanimously decided to invest the sum of £2000 in the Liberty War Loan.