VICTORY LOAN

Evening Post, Volume CXXXVIII, Issue 54, 1 September 1944, Page 6

VICTORY LOAN

PROSPECTS GOOD

BANK GOVERNOR'S VIEW

"We must provide our .troops overseas in all parts of the world with all the requirements of war, and these must be kept flowing in a constant stream /to make good inevitable wastages," said Mr. W. F. L. Ward, Governor of the Reserve Bank and chairman of the National War Loan Committee, last night, when outlining reasons why ; he Considered the Victory Loan prospects were good. Mr. Ward said that also through the great organisation which had been set iup by the Allied nations they had to assist in feeding the starving people: [Of Europe in those countries which jwere being liberated from the enemy. And we m9st remember also," he continued, "that when the European war is over some of our men will be required to serve in other parts of the world, particularly against Japan— which will be the last hurdle we will have to surmount—while others will need to be rehabilitated. All this must be a charge on the country through the War Expenses Account." ""-■ Mr. Ward said that there was an abundance of money in the country over and above the requirements of the community. Free deposits in the trading banks totalled £90,000,000----there were £104,000,000 in the Post Office Savings Bank; £21,000,000 in *««, Uute^ saV?P banks» and notes m the hands of the public £32,000,000 which made a total of nearly £247 000,000. Of course, he added, £ great deal of this £247,000,000 was already lent to people by the various banks and institutions, but nevertheS! S? Tiati? nal, income was growing and the national savings increasin| and it was from these sources that it was desirable to raise the Victory Loan. FACILITIES TO INVEST. mnsL a + ?> ersoll-is short of cash'at the moment," continued Mr. Ward "he j can make arrangements with his bank SL Stt° Ck l nd -l tati. on a&ent to enabit him to subscribe to the loan. There ap- ff° facilities for employers to assist their employees to invest. I am not asking you to do the impossible^ SL? am aski ng you to stretch your resources as far as you possibly can m order to subscribe. Indeed, it is your duty not only to yourself, but to °w own lads and New Zealand "and tne Empire to do so. For we must not ever forget for one moment that all the things we have enjoyed during the last five years have been made possible by the efforts of Britain in the first place, and subsequently of our f£ eaL Allies^ Don>t forget, too," said Mr. Ward, "that we still have a job to do to defeat Japan and to assist that great country China in her epic defence. ' " "I urge everyone, therefore, to give us of his best and back up the efforts of all the committees throughout New Zealand. They are full of enthusiasm, and are doing this work in an honorary capacity for love of their country and Empire, and from a true ssnse of citizenship."

TE AROHA CONTRIBUTIONS

P.A. TE AROHA, This Day. Up to 4 p.m. yesterday the Te Aroha contributions to the Victory War Loan were £9860. The annual meeting of the Te Aroha Jockey Ciub last night decided to contribute £1500.