THE LIBERTY LOAN

Marlborough Express, Volume LXXVI, Issue 242, 14 October 1942, Page 6

THE LIBERTY LOAN

ALL ASKED TO CONTRIBUTE. APPEAL BY MR FRASER. An appeal to the people of'New Zealand to give their wholehearted support to the Second Liberty Loan was made by the Prime Minister, Mr ) Fraser. He said the campaign, | which has opened, was an occasion for every citizen to demonstrate his loyalty to the cause for which New j Zealand was fighting and his patriot- ! ism by making some subscription, | however small. The £10,000,000 asked for wds well within the capacity of the public to find, and every pocket, large or small, should make some contribution. "There is no possibility of sliirking this financial burden, nor, I am sure, does anyone wish to do so," said Mr Fraser, who mentioned that the war was eosting New Zealand £360,000 a day, and that the estimated surn required for this year was £133,000,000. PERSONAL SACRIFICES. "The response for which I am calling will entail personal sacrifices which I know the people will make because the war effort of the country urgently demands them," he con tinued. "The money for which the Liberty Loan is being raised is urgently required to pay for essential war costs. Moreover, apart from motives of patriotism I would like to remind people that there is a sound, if secondary, economic consideration, namely, the avoidance of inflation. , "If we in New Zealand are to make our best contribution to the war effort by maintaining the financial stability of the country, and, with it, a progressive flow of essential war production, any surplus purchasing power must be absorbed in savings in one form or another. It will be obvious to everyone that the shortages of goods and services are increasing daily, the reason being, of course, that the material demands of war in the form of munitions, warlike equip - ment and stores, clothing, food and shelter produced in Nefv Zealand involve a diversion of effort from the production of goods which formeriy

were consumed by the public. The withdrawal of supplies and services from consumption by the civilian population must be matched with an equivalent withdrawal of spending powed if inflation is to be avoided. "In the stern task that lies ahead there is a part for everyone to play. Some bear arms, others are engaged on war work, but saving and investing in the country 's war effort, is a weapon which everyone can handle. Those of us who do not fight with arms cannot ask the soldiers and the airmen and the sailors of New Zealand to give their lives for our freedom, our comfort and our safety un~ less we at the same time display an equal willingness to make our contributions to ihe common cause. "Our money is required to defend our shores and to safeguard our homes and our families. We need only think of the sufferings and tragedies of the people of Europe, and nearer at home here in the Pacific, of China, of Burma, of Malaya, of the Netherlands East Indies, of the Philippines, and the possibility of a repetition of similar events in and around our own island dependencies, and in Australia and New Zealand. Every pound contributed to the Liberty Loan will help to equip and maintain the men who have embraced the duty of defending our shores, and it is the duty of everyone to make the fullest contribution in his power. ' "In this matter of life and death we have no choice but to pay the price required for the safeguarding of our liberty. We cannot afford not to pay, even though the price entails, as it must, sacrifices and heavy burdens for every citizen. "The degree of success which this appeal obtains will be an indication of the extent to which the people of New Zealand regard their solemn duty, and I confidently expect, on this occasion as on the last, that the Liberty Loan will be over-subscribed by a substantial amount. I look coii-. fidently to the people of New Zealand to rise to the occasion and respond with record subscriptions." 1L7