The War Loan

Horowhenua Chronicle, 22 August 1916, Page 2

The War Loan

M.\K ANiJ A Qi AIU kit! A 1 I'LLJULVS .Si; BS'UUUKD. Wellington, Last -Night, ■'lis <;11 r.glit. sa.d the Minister i'or Finance when asked by a n potter to-night as in iho amount of suims that' l:;id attended the tissue oi the Uar Loan. Over nine and a quarter miliion.s have been subscribed. Applications for war bonds through tito post office totalled LI ,227,21!!); applications tor war !oa:i eerriiiciitrs tin oligTi" the ■p.ist office amounted to (.:>">7.l 18 ; applications tor war bond. l * through tlu» hanks amounted to £1,iiOO.lfti) : applications through the Treasury direct tfiij.'i.l 00; and applcaLi ns direct hy the '>atik<s themselves £t.000,000, of which the Hank of New Zealand ppi ii><! for .C2,fllaJ,oo(). I'lien there wc'i! Kim iry applications for 'J20(!.()nn; then again sundry appHoatii'i s of various kinds of ilioss* totalling £1,51fi.0f!0. "Though the date for closing the mail) loan was fixed for today," added Sir Joseph Ward, "any intending app'ieant who send along their lequests during the next week or so up to September l*t in fact will ho received." I should expect to find that will mean probably another £200,000 oi 1 £300,000 at least. It is hardly necessary to say that the result is eminently satisfactory. It shows tli:i those in the country of small niennts as well as those of moderate and ipf largo means recognise the importance of (he occasion and that the vital character of the interests of the country from the point of view of national assistance in the way of funds needed for war purposes has been recognised bv them. Apart from the fact that tin s investment is a good one it demonstrates that when "the Government, appeal to the people to help to provide the smews of war to sccure the victory which we look forward to winning, T hope, before many months pass, the rc-ponse is very fine indeed. "So far as the "War Loan Certificates from Cl to GSO through the I'ost Office are concerned." continued iSir Joseph Ward. "as I have already intimated, applications for these will not be closed for some weeks to come. This is an entirely new scheme, and a different class of investo's is brought b,v it into touch with the financing of the country for the first time in its history, and. as in every other walk of life, when a new method affecting a class of people who have not hcen investors before. is brought into operation, necessarily a longer time is required to give those who have not seen the advantages and indeed the necessity of joining in the undertaking, an opportunity for full consideration and to give the (.overnment also .ah opportunity for educational propaganda. "The AVnr Loan has been oversuhscrilted, and. on beha'f ot the country, f will retain the full amount. Allotment will be made in full to all who have subscribed. Xono will be disappointed. Only £S,OOO O'O was n>ko;l for locally, hut Parliament authorized £16,000,000 in all, and the n-eds tor money for war purpose* are such that the surplus can be readily availed of, so that there 'will be no disappointed applicants."