THE WAR LOAN.
AUTHORITY TO RAISE TEN
MILLIONS
The Public Revenues Amendment Bill, or what is commonly called the War Loan Bill, which was introduced yesterday, gives authority for the raising of sums of money not exceeding ten million pounds for the purposes of the present war. The amount, or any portion of it, may be raised on the security of Treasury Bills. The sums raised shall bear interest at such a rate as the Minister for Finance prescribes, but not exceeding five per cent.
The amount that may be raised in the ordinary way on Treasury Bills under the Public Revenues Act, 1910, is increased horn one and a half millions to two millions. Previously this limit was one million and it was raised to ,£1,500,000 last session. The amount that may be expended in any one year by way of ordinary unauthorised expenditure is increased from ,£150,000 to ,£250, ■ UUi). Provision is also made for the payment from the war expenses account of any monies paid into it for the purposes of the relief of the sick and wounded.
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https://paperspast.natlib.govt.nz/newspapers/MH19150701.2.15
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Manawatu Herald, Volume XXXVII, Issue 1418, 1 July 1915, Page 3
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181THE WAR LOAN. Manawatu Herald, Volume XXXVII, Issue 1418, 1 July 1915, Page 3
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