THE NEW LOAN

Dominion, Volume 12, Issue 201, 20 May 1919, Page 6

THE NEW LOAN

Sir,—ls the Government really in earnest in the floating of the present loan? The half-hearted, lukewarm manner in which it lias been put on tjifc market seems to suggest that the Government does not care whether the lull amount is subscribed or not. Certainly threats of compulsion are held over tho heads of all financial shirkers, but as no closing date is given—no information as to the extent of one's liability is forthcoming—investors generally are no mor« inclined to rush the loan than the Government is. Darkness' seems to exist everywhere. Most of the investors with whom I have discussed the matter take up the.-attitude that as they have already subscribed to previous loans they are not goings to worry over this one. Upon being told that contribution to every loan is compulsory, irrespective of contributions to previous loans, they doubt the statement, and, like Sir. Asquith, prefer to; "wait and 6ee." Almost every man knows of wealthy men who have put absolutely nothing into tho j loans, or so little that it is a mere' bagatelle. There is a widespread feeling that the compulsory clauses of tho Finance Act are not being so rigidly enforced as was the law that conscripted men. The Government should remove all this feeling at once by: (1) Announcing a closing date for the loan; (2) giving an indication of each person's liability to this loan; and (3). making a definite and clear statement to tho effect that. all shirkers will be dealt with fearlessly. To catch shirkers I would suggest that in senduig out the usual income-and land tax forns the Tax Department should enclose a form upon which a' mail- Is to show the details of his total contributions to war loans, such statement tobe witnessed, and in the event of its being proved misleading or false prosecution to follow.—l am, etc., BROKER,