THE NEW WAR LOAN.

Press, Volume LIV, Issue 16158, 12 March 1918, Page 6

THE NEW WAR LOAN.

Sin JOSEPH WARD INDICATES THE TERMS. THE CASE OF THE FINANCIAL i SHIRKER. Sir Joseph Ward (Minister of Fin-j auce) indicated to a- "Press" reporter j yesterday that if it is found to be j necessary the compulsory clauses ef j last year's Act will be put into opera- j tion to compel financial shirkers to j contribute to the War Loan, to be is- J sued at the end of this week. | Asked if he had any objection to stating what the terms of the loan were, Sir Joseph stated that it would make provision for small investors tip to £500 receiving 5 per cent, or its equivalent by investment in war certificates or war bonds through the Post Office. There would be provision made for inscribed stock at 5 per cent, up to £500, upon which income tax would be payable. It would be strictly limited to tho investors of £500 in this branch bccause of the reasons he lirul already given in order to prevent an inflation of the values of money in New Zealand. Provision would ai-o be made for 41 per cent, free of income tax, and in addition to that the compulsory clauses under the law as it now stood would be put into operation wherever it was found to be necessary. He hoped it would not bo necessary to do so, but there were, unfortunately, financial shirkers just as there were, human shirkers, and in this matter of providing money for the war, everyone was expoctcd to do his duty.