LAST WAR LOAN

Dominion, Volume 12, Issue 166, 8 April 1919, Page 7

LAST WAR LOAN

STATEMENT BY TEE HON A. 11. MYERS. Speaking to a reporter 'with, regard to the final Victory Loan of ten million pounds, authorised by the last session of Parliament, the Hon. Arthur Myers, Acting-Minister of Finance, remarked that although a fair amount of money has already, ..been subscribed . to : ■ this : loaij •through the Treasury, it is apparent that Bonie people do not realise that the compulsory clauses of the Finance Act still operate, or that.the raising of the amount ■in question is equally as important as those sums which were floated during the actual period of hostilities. "Our part in this war is not complete," said-Mr. Myors, "until we have fjUly honoured the obligations we entered iufo with the'object of playing our part in the winning of the great victory that has crowned' the efforts of the Empire and our Allies. It must be remembered that not only is , there continuing expenditure on account of our military forces until demobilisation, but there isalso a. large liability in respect to gratuities to soldiers, cost of repatriation, etc. Until our monetary responsibilities in every shape have been completely met, it is our duty to maintain our financial effort at full war strength. . '

"It may lie well, nt tins juncture," ndded the Minister, "to give a reminder that tliosft taxpayers :iot found to be subscribing; adequately to the War Loan ■will be approached, under the compulsory clauses of the Finance .•! <:t, with a view to ensuring their malting contributions to llie loan commensurate' with their means. The rate of interest payable on subscriptions exacted cornpulsorily is, of course, 3 per cent, only.' However, I feel assured that the urgency of , t the need for continued investment in' War Loan Stock hns only to be placed before the notice of the country to be at once recognised and comulied with,

."Having-.regard to our large expenditure on account of war debt;" concluded Mr. Myers, "I therefore desire again to point out that to my n-.ind the duty of each citizen is no less obviously hot than it was diirii , ; , the period of the. war, to produce to the fullest extent of his powers, to'cultivate a reasonable economy and thrift,, and to lend everything possible to the State, per medium of the "War Loan."