LIBERTY LOAN

Dominion, Volume 36, Issue 29, 29 October 1942, Page 8

LIBERTY LOAN

Public Responsibility To Subscribe "X am afraid many people in New Zealand take what 1 would term a rather complacent view of this war, and it is to these of this category that I wish expressly to direct a few remarks, said Captain 8. Holm, president of the Associated Chambers of Commerce of New Zealand,; during a broadcast address last night in connexion with the second Liberty Loan. "War is a State affair,” he said. "The individual becomes subservient to the State for the duration, and few personal considerations, however proper in times of peace, have ■ any standing so long as war lasts. That, however, does not release the public from their responsibility, for it is from the individual effort that the State obtains its power and each and every citizen of this Dominion has a duty to perform in these strenuous times; that, duty is to assist as far as possible in equipping our forces with the sinews of war, and to do this our money must be freely subscribed. “We all know how increased- taxation and higher priced goods have combined to make heavy inroads into our personal incomes or our net profits but, difficult though the policy may be to adopt, it is a matter of imperative national urgency that all in the Dominion should dip even deeper into their earnings (either past present, or future), in order to provide the State with the wherewithal to obtain machines, arms, and munitions needed to equip our fighting forces. “You canont afford to be complacent in matters of vital importance to the nation, but you can afford, with very little effort, to make a contribution to the country’s financial needs, and at the same time conserve your money for use when the clouds of war have passed away. I would stress one important point, namely, the avoidance of anything in our country’s financial transactions which would tend toward inflation. The Liberty Loan and possible further Government loans to be raised for war pur-, poses will, if fully supported by people in all walks of life, act as a brake on any inflationary tendency and ensure that when post-war rehabilitation is in progress New Zealand will be in a much sounder position to meet the difficulties then likely to arise.” Latest subscriptions to - the second Liberty Loan are:—Dominion-Life Assurance Office of N.Z., Ltd., £20,000; Auckland Farmers’ Trading Co., £10,000; ■Brownlee Investment Co., Ltd., £2000; Bing, Harris, Ltd., £2000; Egley Electrical Co., £500; Whitelaw ■ Bros., Ltd., £500; His Masters Voice (N.Z.), Ltd., £250; S. Oppenheimer and Co., £250; J. O’Brien and Co., Ltd., £2OO. An investment of £50,000 in the Liberty Loan -was decided upon by the Wellington Harbour Board last night, on the motion of the chairman, Mr. W. H. Price. It will be taken up in 3 per cent, inscribed stock, repayable 1953-56.