THE WAR LOAN

Dominion, Volume 9, Issue 2856, 22 August 1916, Page 4

THE WAR LOAN

The Minister of Finance may congratulate himself on the result of his local £8,000,000 War Loan flotation. The loan has been oversubscribed to .the extent of one and a quarter millions, that is to say, whoreas he sought a loan of £8,000,000, the amount offered is £9,250,000. This, in the circumstances, must be regarded as a very satisfactory result, and Sir Joseph Ward has decided to tako the whole amount oi'fored. It will all be required. Wo had hoped to see a still larger amount subscribed by the public. Nine and a quarter millions , is, of course, a very large sum for a small country to provide at short notice, but there is a great 'deal of money in the Dominion, and 'the total subscribed might easily 'havo been materially supplemented. We can only assume that the short notice given and the consequent difficulty in adjusting financial arrangements has in many, cases prevented people from subscribing. It is so obviously a ftiatter of duty for all who could do so to assist with the loan that on reflection those who havo not done so must feel very muck ashamed of themselves for having neglected that duty. The War Loan Certificates for amounts from £l upwards have not yet produced as large an amount as might have been expected, the total "to date being £357,000. This amount, however, should be substantially added to within the next few weeks, when this particular form of investment becomes better known. There should be no doubt on this point; the money will be needed, and the man or woman who assists by taking up the certificates is not only Helping' his or her country in the successful prosecution of 'the war, but is also getting an excellent investment. Sir Joseph Ward has decided to receive applications for War Loan Bonds up to 'September 1, so that the total subscriptions to the loan may be further increased by contributions from this source, as well as from "the sale of War Loan Certificates. There is still time, therefore, for those with the means who havo not yet done their duty.