£8,000,000. THE NEED OF NEW ZEALAND

Horowhenua Chronicle, 19 August 1916, Page 1

£8,000,000. THE NEED OF NEW ZEALAND

i'ne prospectus oi a. ioau oi eigui million pounds .nerling is out on page J. 01 to-day's issue oi Xlire Ciirou.ule. This sum is to be raised uy authority oi ail Act oi i'arliameni parsed a week oi' tm ago, and the proceeds uili bo devoted to the carryingoii oi .Now Zealand's sliare ill the war. i 1 or patriotic reasons alone, the people of tins dominion should, ensure a succersful result lor the Uovem-me-iil's appeal; but there remains to Lie considered the excellent natnre ol li 10 investment oltered. An interest ol -li per cent per annum, l'ree or in-come-tax, is ollered, and the money may be lent, at lenders' options, for either iouvteeu years or Uveuly-u\ e years. Ihe interest will be payable every hall-year (i.i -March and SeptemTo rautiic small investors to participate hi the benefits the loan offers to iii.esiuio, the Government is prepared, to accept subscriptions irom £1 upwards, though no bond will oe issued for a leas than £50. All aunual sinking iund lor estmgui.sJiment oi ttie loan witiuii iseventy-hvc year.-, will come i.it.o operai,on aut:olnatiC.'lly ae provided by the i'ubke ■!>(• I jl h\tinetion Act; so all in ail it results iliat the loan now ill process or Uotatibu will ahord public irod.ii-,-and private invesiors alike one ol' the ■••aiest and most desirable means oi using spare moneys that ever has own made available for the people of these pans. An Evening l'ost reporter who interviewed the .Minister oi I'inaiiee (,Sir .Jurep.i \Vanl; obtained, some interesting paii.eul.uis concerning the loan. Sir Jo.-.vph said that tile smai: investor's rcijti. foments would be mot by the issues of certificates for £1 or CIO (,at his option); the certificates b.'i.jjc made payable ''to bearer," and tliereloi'e being a negotiable security These certificates may be obtained at any postal money order office in Aou Zealand,, and only nt such offices. <J payment ol ltjs in cash a certificate loi £1, payable in five years, will bo issued ; and on payment of £'8 a certificate lor £10, payable in five years. AI other amounts required can be made up by combination of £1 and £11 certificates—thus for £25, two £10'e. and live £l's will be issued. Applicants wishing to invest more than £5L should apply for war bonds, which are issued for larger sums, with coupons attached for the collection of interest hall-yearly; see special circular. The war loam certificates are for the small investor. He receives the same interest ais the large investor, and the amount payable at the end of five years includes compound interest at 4J per cent, on the purchase price. The certificates will be payable to bearer, and can, therefore, be sold, or transferred from one person to another. The most attractive feature in the issue of the certificates, and one that will appeal particularly to the small investor, is the arrangement that a £1 certificate will not cost £1, but 16s, and the £10 certificate only £8, its actual face value only being realisable at the termination of the five-year period.