WAR LOANS

Dominion, Volume 12, Issue 213, 3 June 1919, Page 6

WAR LOANS

; THE SMALL INVESTOR, Sir—l 'was greatly interested in "Broker's" letter on "The New War Loan" in your issue of May 20, for I have been doing a bit of thinking on my own account on the same subject. True, I am only a small investor, and do my • bit through the Post Office. But as. far as I can see the Government don't seem to bo "taking any" that way this time.' At least, I have not seen any announcement of the fact. Are they doing so, or don't they want "the widow's mite ' this timo? At any rate, it looks as if they don't. If they do, lam willing to again do my bit, but if they don't want it I am quite willing to keep t it. Perhaps the Acting-Minister of Finance doesn't feel equal to tackling the job by taking off his coat now the boss is away. Anyway, if he really wants the money lie mil have to buck in a bit harder, or he tfon't get it. But does he really .want it? That was a good idea of "Broker's" about putting the amount subscribed on the income tax returns; but there is noneed for it to bo certified; all that is wanted is Amount subscribed to 19— loan £. —. Amount subscribed to 19-; loan i—. Amount subscribed to 19— loan £ —. The declaration will do the rest.—l am, CtC " SMALL INVESTOR.

Tin connection with tha above letter the authorities of the Post and Tejtigraph Department express surprise that anyone would write such a letter without making full inquiries as to what the actual position is. As a matter of fact, tho Post and Telegraph Department lias never ceased asking the small investor to take up AVar Loan Certificates and War Bonds, and there are jesters in nearly every poost office and railway station in the country drawing the attention of the public to the fact. War 'Certificates and Bonds are still being sold daily over the counter in the chief post offices, and there is nothing to 6upIK>rt the allegation that the money of the small man did not seem (to the writer of the letter) to bo required by the Government. .As a matter of fact, the Department has never ceased selling certificates and bonds, the former bearing interest at the rate of 4J per cent, free of income tax, and the latter 5 per cent., chargeable with income tax, and any investments tho writer of the letter would care to make, up to the limitations imposed, would be willingly received by any post office in the Dominion.! [The Post and Telegraph Department furnished the following figures respecting the sale- of War Loan; certificates up till March last-.— £ s. d. Total sales,to May 31,1918. ,£3,884,651 7 0 Sales (luring- • ■ .Tune, 1918 39,903 7 0 July, „ 17,379 S(J August, „ 1-1,61!) 0 0 Sept., ~ 12,487 13 0 Oct., „ 15,18119 0 Nov., „ 4,854 7ft Dec., i, £5,781 14 -0 Jan., 1919 5,930 2 0 Feb., . 9.080 i.O March (by telegraph) 5,522 -t -0 Total sales to date ,£4,017,031 2 0]