The Dominion. MONDAY, AUGUST 14, 1916. A CHANCE FOR ALL

Dominion, Volume 9, Issue 2849, 14 August 1916, Page 4

The Dominion. MONDAY, AUGUST 14, 1916. A CHANCE FOR ALL

' f] TH l mo ! fc striking feature about Me War Loan now under offer to tne people of the Dominion is the ,'tacfi that everyone haa been given a chance, to assist to make it a success- In other words, the opportunity has been made for all to assist m the prosecution of the war. Ine Finance Minister is to be congratulated: on providing a means by ! which the small man as well as the pig cart help, according to his financal ablity. We should think that most people know fairly well how very important it is that this loan of £8,000,000, should be fully subscribed. .. It is not a matter about which anyone should hesitate in order to weigh the pros and cons of the merits of the loan as a,n investment These, of course, will stand examination, and show an excellent result. But the consideration which alone should be allowed to influence , the patriotic citizen is the extent to which his means will permit him to invest in tho loan. It is not a ■ question of pioking and choosing an investment, but a simple matter of duty. We cannot all go to the front to fight, but there are very few who cannot help in the struggle by assisting to make this loan a success. The money is needed—there should bo no doubts on that point. The Finance Minister will require every -■penny of it. The man or woman j who has the money available to invest in it and does not do so is just as much a shirker as the young man of military age and without encumbrances who' fails to go to the front. He is, indeed, the worse for he is prejudicing the position' of his country in this life and death struggle for tho sake of 1 making a few pounds a year extra out of his monoy. There arc not, we, trust, many such in this Dominion.

A feature of the loan, particularly in respect of tho provision for tho issue'of AVar Loan Certificates, up to £50 --in value, to small investors, is tho opportunity it affords for the practice of thrift. Many people find it a hard thing to save money. They save a little and it is no sooner saved than some excuse or reason is forthcoming for spending it. Under the terms of the War Loan any person who has saved sixteen shillings can 1/uy a War Loan Certificate, worth £l in five years' time. That is to say, they pay sixteen shillings to-day, and in fiv<s years are repaid £l. When they_ have bought their War Loan Certificate its value goes on heaping up at compound interest, and they are saving money almost without knowing it. A sum of £40 so invested would grow into £50 in five years'; and be a nice little nest-egg. The position of the big investor is different. He buys War Bonds, paying thoir face value, and ho draws interest half-yearly at tho rate of 4l per cent., the capital ho invests being left with the Government for 14 or 25 years,_ as lie may dccide. The difference is that whereas tho bigger investor draws his interest half-yearly, that of the smaller investor (which is at the same rate per cent.) goes on accumulating for live years, when capital and interest can be drawn together. There is yet another sido to this local War Loan which should not be overlooked. The spirit whioh the young men of the country have shown in coming forward to risk their lives in tho service of the Empire has won the ad-

miration of tho world. It i s co t StL t m «^ ri , al -value which tho addition to tho forces of tho EmPlr ° 4? , E ,° fine a bod y of fighting men that has counted, but the moral effect, of tho Dominion's voluntary and whole-hearted participation in the struggle has been a factor of farreaching importance So also in connection with tho War Loan, the extent of the response of *ho public will be regarded outside our shores as an indication of the spirit of the people. That the amount asked for by the I'manco Minister will be subscribed we havo tho fullest confident; but what a splendid testimony to the determination of tho ■dominion and to" its financial strength it would'be if Sir Joseph Ward were able to announce that this, tho largest loan over attempted to be floated heie, had been largely ovcr-subscribed. Australia made a magnificent response when tho Commonwealth issued its War Loan, and the people of New Zealand have only to realiso tho importance of the call now mado to their patriotism to show at least an equally heartening result. '