LIBERTY LOAN

Press, Volume LXXIX, Issue 23970, 10 June 1943, Page 4

LIBERTY LOAN

WHY MONEY IS NEEDED EXPLANATION BY MR SULLIVAN (P.A.) WELLINGTON, June 9. In his capacity as Minister of Supply and Munitions, and Minister in Charge of Stabilisation the Hon. D. G. Sullivan discussed the Liberty Loan tonight, disclosing facts which demonstrate why so large a loan is needed this year. New Zealand, he said, would be supplying foodstuffs under reverse leaselend of an estimated total value of £9,000,000. Allowing for increased production, the cold facts were that millions of pounds worth of food must be diverted to war purposes. In addition, New Zealand’s shipbuilding programme provided for the construction of vessels this year, at a cost of about £2,000,000 for the south Pacific and south-west Pacific areas. As in Erevious years, New Zealand would e supplying to its armed forces a huge amount of stores, equipment and munitions, all of which were produced in factories which otherwise would be producing goods for civilian use. “Because we will be producing hundreds of thousands of pairs. of military footwear for the men and women of the forces," added Mr Sullivan, “and millions of yards of cloth for their uniforms, also radios for the forces, to mention only three general items, it is physically impossible to maintain supplies in the wide range we used to enjoy for civilian use.” These were some of the facts mentioned by Mr Sullivan to enforce his strong plea that the community .should realise the difference between the level of purchasing power and the level of available goods for consumption by civilians. Thus, he added, by contributing to the war loan we would serve a double, a treble purpose. We would provide the money that produced food, clothing, fighting equipment and munitions for the gallant soldiers' who were defending the Allied cause, our cpuntry, and our freedom with their lives We were, by local production, saving shipping space so vital to-day, and narrowing on the home front the dangerous inflationary gap, through which we could be destroyed as effectively as by enemy bombs. CHRISTCHURCH RESPONSE TOTAL OF IN TWO DAYS A total of £BO,OOO has been raised in Christchurch in two days for the Third Liberty War Loan. On Tuesday the sum of £60,000 was received, and yesterday’s total was £20,000. Subscribers have included the fol-

CAMPAIGN ARRANGED FOR COUNTRY DISTRICTS Bank managers and postmasters from all country centres within the jurisdiction of the Canterbury Third Liberty Loan area met in conference in Christchurch yesterday under the chairmanship of Mr W. H. E. Flint, chairman of the district committee. Mr. Flint outlined the organisation in connexion with the loan appeal in Christchurch, and offered the assistance of his committee to country delegates. Those present discussed their experiences concerning the last loan, and suggestions were put forward for canvassing the country districts, and for the furtherance, generally, of the campaign. Mr J. M. Mead, of the Treasury staff, acted as secretary.

lowing:— . £ Municipal Electricity Department 25,000 Pyne, Gould. Guinness, Ltd. .. 20,000 Andersons, Ltd. 5,000 Dr. Albert J. Orchard 2,000 M. O’Brien and Co., Ltd. 2,000