THE WAR LOAN

Dominion, Volume 11, Issue 160, 26 March 1918, Page 4

THE WAR LOAN

CHRISTCHURCH CITY COUNCIL'S ATTITUDE. By Telegraph.—Press Association Christchurch, March. 25. . At a meeting of the City Council this evening a letter was read from Sir Joseph Ward soliciting the council's co-operation in making the War Loan a success. Councillor Hay ward moved that the Sinking Fund Commissioners be instructed to invest what funds they possessed in the loan. Councillor Loasby, who considered the council should go further and invest some of' the ratepayers'', money, moved that £5000 be invested. ■ Councillor Hiram Hunter (Labour) opposed the motion, and criticised the policy of tho Government' in raising War Loans tax free. He said that those who weromaking money out of the miseries of the people during the war were to be exempted. That meant that the soldiers and tho working people would havo to pay for ,the war, and these other people who were withholding their produce unless.they received big prices for it were to become a privileged aristocracy. , Councillor Loasby's motion <was lost. The Mayor (Mr. Holland) said:-, "I regret that the motion has been lost. I think, notwithstanding what Councillor Hunter said, it is our duty to do everything in our power to assist. _ Councillor Sullivan said the question before tho council was not a patriotic one at all. The only question was the difficulty of the council .in raising the necessary £5000. . The motion that sinking funds be m-• vested was carried.