WAR LOANS

Dominion, Volume 12, Issue 299, 13 September 1919, Page 6

WAR LOANS

THE COST OF ELOTATION.."' A statement, of the charges and ex- . peases. ot' raising war loans during the financial year 11)18-19, laid before Parliament yesterday, shows the total to have been .£-l:i(l,!ll7. The items are:— Advertising and printing;. .£18,10!); brokerage, .£11,823; discount, etc;, paid to tli.o Imperial tloverhment, <11400,510 (this being discount on war advances obtained from the Imperial Xioveriinieiit., from November IG, 1015, to . March, HO, "1917, .inclusive.); contingencies, <CtT5. When tho statement, was' presented to the House, Sir Joseph Ward'said that, the brokerage allowed to brokers and bnks had been 'one-quarter' per cenl. That was a. very, low rate indeed, and lie knew of no country, that .had' paid .less; while various countries had paidKiiiore. .The total amount of money raised in Now. Zealand in the period, covered by tho. return had ken'in. the neighbourhood of ,£20,000.000; and it "was ' tho cheapest loan transaction that had evei' taken place in the country; " Tho '-discount's on New Zealand's investments iu Great Britain would amount to considerably more than the discounts, mentioned in the return.' The particulars of tho loan transactions were of ii ; most satisfactory character.