THE WAR LOAN.

Manawatu Herald, Volume XXXVIII, Issue 1597, 12 August 1916, Page 3

THE WAR LOAN.

AN ATTRACTIVE INVESTMENT. The Government have now the certificates for the war loan available for disposal over the counter at the post offices, and very adequate preparations have been made to place the essential details before the investing public of the Dominion. It is confidently expected that, there will 1m an eager demand for the certificates. According to a. circular issued by the Minister of finance, the certificates will be issued to the public in two values, viz., Claud £lO. These certificates, printed on special white paper, and personally signed by the postmaster issuing them, are about the size of an ordinary bank note, (be letterpress (in black inl<) being as follows:—“Dominion of New Zealand War Loan Certificate. Issued under (ho Finance Act, ilOifi. Gn presentation at any Money Order Office in New Zealand the bearer of this certificate will receive the sum of one pound sterling live years after the date* hereon. Date, . Signature, (Postmaster). Office (space). Stamp. Joseph George Ward, Minister of Finance.” The value of the certificate (either Cl or £10) is printed four times in clear bold black type. It will be noticed that the eertilieate is made payable to bearer, whieli makes it a negotiable security, though there is not likely to he much traffic with (hem until after the date on which they become payable. The civenlar further says;— “Those certificates may he obtained at any postal money oi'der office in New Zealand, and only at such offices. On payment of 10s in cash a certificate for Cl, payable in live years, will be issued; and on payment of £8 a eertilieate, for £lO, payable in live years. All other anioimls required can be made up by combination of Cl and £lO certificates —Unis for £25, two ClO’s and live Cl’s will lie issued. Applicants wishing to invest; move than £SO should apply for war bonds, which are issued for larger sums, with coupons attached for the collection of interest half-yearly; see special circular. The war loan certificates are for the small investor. He receives the same interest as the large investor, and the amount payable at th<‘ mid of five years includes compound interest at 41 per cent, on the purchase price. The certificates will lie payable to hearer, and can, therefore, be sold or transferred from one person to another." The most attractive feature in the issue of the certificates, and one (hat will appeal particularly to the small investor, is (he arrangement (hat a £1 certificate will not cost £l, but Ids, and the £lO certificate only £B, its actual face value only being realisable at the termination of the five year period. It is anticipated that the issue of certificates and war bonds will affect (be Government Havings Bank deposits owing to the better rale of interest given with the same gill-edged security. The only compensation against these withdrawals is the fact that the money is available for use for five years.