THIRD LIBERTY LOAN

Press, Volume LXXIX, Issue 23968, 8 June 1943, Page 4

THIRD LIBERTY LOAN

Ministers Open Campaign APPEAL TO SMALL INVESTORS From Our Parliamentary Reporter WELLINGTON, June 7. “While there are other dividends, the dividend that helps to build the better life is the one that is everlasting, and cannot be surpassed,’’ said the Minister of Finance (the Hon. W. Nash) in a broadcast address launching the £35,000,000 war loan campaign this evening, Mr Nash said New Zealand owed much to the people of Britain for the way they held in September, 1940, and April, 1941, and the way. through the inspired leadership of Mr Churchill, they had built -up the power that, in co-operation with the United States and Russia, would ultimately defeat Germany. Russia was stronger than at any period in her history. Canada, South Africa, and Australia had all in their turn made great contributions. New Zealand had also made an effort of which she could be reasonably proud. New Zealanders overseas, particularly the Maori Battalion and the New Zealand Division in North Africa, had been spoken of as probably the best combat unit inside the fighting area. New Zealanders in the air had records that would last for many years. On the ocean men in New Zealand ships had done exceptionally well. On the production side, in helping to feed Britain. New Zealand had much to its credit. In the factories, men and women had made a record volume of production. While there was a lull in the fighting period, it was well that New Zealanders should look at the picture at home. The fighting strength of all the United Nations was dependent to some degree on the work that was done in New Zealand. Those who went away to fight were doing their part, and those at home ought to do theirs. “We have produced much,” said Mr Nash. "We are producing much. The services of our people stand in reasonable comparison with the services of those of other countries. I wonder if we could take the comparison a little further. The records collectively, in the fighting fields as I have mentioned, and in the producing fields, are good. Can we continue to hold those records, and extend our holding ofc them, by making a record in paying for the war?” Methods of Paying The Government was asking for £35,000,000 to be made available for the war loan between now and early in July. Every typo of corporation, trustee, trust board, company or person could help. Those who had not the full cash available might subscribe £3O on application, and £3O on August 25, and £4O on October 6. Interest would be paid in each case from the day the money was received. There was another method to pay—£3o on application, and £lO on the eleventh of each month up to February 11 of next year, or. if smaller investments still were required, and really those were the most valuable subscriptions, it was possible to pay £lO for a bond, and receive £ll 7s 6d in five years; or buy a £1 bond and receive £1 2s 9d in five years. Another method was to open a national savings account, and put something in every week. Employers could help by establishing savings groups, under which employees agreed to a deduction from their pay every week.

Mr Nash said that New Zealand was fortunate. In the United States he came into contact with representatives of countries occupied by the Germans—some of the best of the world’s peoples, the Dutch for instance. Their deathrate under the Germans had gone up 47 per cent. New Zealand had a unique opportunity to help. All that a country, well blessed with climate,' free spaces, and great resources, where hardship was unknown, was asked to do as a people was to lend to the Government the money necessary to provide the wherewithal for the war, and to prepare for the peace. Largest Loan in History

The Government had decided not to increase taxation; but to raise the largest sum in the history of the Dominion by way of loan. Some would come from insurance companies and other financial institutions; but those investments were not all that was required. They should break the record for the number of subscribers. It would be magnificent if they got 250,000 subscribers. and it would be magnificent, too, if they obtained the money before the closing date of the loan. Some day the war would be over, and New Zealand would again be following the paths of peace. At that time the investments they were asked to make would be good spending power to buy the goods that could then be made in factories transferred from war production to the production of commodities for civilian use.

“There are few things in life that are worth risking and, if necessary, giving one’s life for.” said Mr Nash. “One of these is to hold freedom when once you have experienced it. We in New Zealand have freedom to the full. What are we willing to do to hold it? The New Zealand Division in North Africa has shown what it will do. Its record is unsurpassed in the present or any previous war. In the air or on the sea New Zealanders have shown what value they place on freedom.” In New Zealand itself they had been comparatively free from the ills of war. Taxes had been reasonably high, .but they had not meant going without a single essential. In Britain the people had 2oz of butter, no eggs, and Is worth of meat a week, Holland had less than half the food declared to be necessary. In Greece, hundreds of thousands had died from starvation. There were like conditions in Norway. Belgium, Poland, and Czechoslovakia, "We have much to be thankful for.” said Mr Nash. "Can we show it by investing all that we have in the war loan now offering? It pays dividends in an earlier peace, in better food for those who are starving, in spending power when peace comes.” People’s Loan ,

“It is a people’s loan,” said the Prime Minister (the Rt. Hon. P. Fraser) in a broadcast address bn the war loan this evening. "One certain thing is that the loan cannot be successful if you and many others with you do not give your help. People who usually subscribe to loans cannot subscribe enough by themselves. The responsibility is yours, every one of you.” Mr Fraser said it would be a fine achievement for New Zealand, with its population of just over 1.500,000. to raise a liberty loan of £35,000,000. If they valued liberty, that was not 100 big a price. It was nothing compared with the loss they would suffer if their enemies were to be victorious. Homes and families, work and happiness, the right to think as they would, freedom of religion, education, their standard of living, social services—all these would disappear, as they did in the conquered countries of Europe. All this and more would have befallen New Zealand if the Japanese had over-run it. New Zealand was still menaced, although not so immediately, by an enemy whose reputation for tyranny, ruthlessness, and cruelty was unexcelled even by the Nazis, None should have any illusions that the methods of the enemies would be any different in New Zealand from those employed in other countries. The concentration camp, the slave gang, and the torture chamber were not temporary or accidental aspects of Nazism. They were necessary conditions of its existence. He appealed to the spirit which moved New Zealand soldiers, sailors, and airmen, and to the spirit which roused the men and women in New Zealand when the Japanese first directly menaced their shores. They could see the