FINAL VICTORY LOAN

Dominion, Volume 12, Issue 264, 4 August 1919, Page 6

FINAL VICTORY LOAN

JULY SUBSCRIPTIONS £#0,000.

The Hon. Arthur Myers, Acting-Minis-ter of Finance, states that. tho. sum of .£460,000 was received by the Treasury (hiring the month of July as subscriptions to the Final Victory Loan. It was in December last that the Minister notified that the Treasury wao prepared to receive subscriptions towards the balance of this loan, and, since that dale, the total amount voluntarily subscribed in the manner referred to is nearly three and a half millions. Mr. Myers, also, pointed ,oui that us soon as the Minister of Finance,. Sir Joseph Ward, returns U. New Zealand, the question will bo considered of issuing a formal prospectus in respect of the loan in question, o.nd stating the exact sum still required. Our continued heavy obligations on account of war expenditure, retrospective allowances, gratuities, repatriation, et«.,' make it quite evident that it will be necessary to take action in regard to th 6 flotation of' the loan 'at an early date, and although the public generally have responded to the extent of the amount mentioned above, the compulsory clauses of section 10 of the Finance Act, 1918, are still operative. It is therefore advisable that those who are liable to subscribe under this Act should make available whatever amount they are likely to Ire oalled upon to invest in the War Loan," as subscriptions (as pointed out previously by Mr. Myers) made under the compulsory clauses carry a rate of » interest of 3 per cent. only.