The Manawatu Herald. THURSDAY, AUGUST 17, 1916. THE WAR LOAN.

Manawatu Herald, Volume XXXVIII, Issue 1599, 17 August 1916, Page 2

The Manawatu Herald. THURSDAY, AUGUST 17, 1916. THE WAR LOAN.

MESSRS M. KENNEDY and AV. Watson, directors representing the shareholders on the Board of the Bank of New Zealand, referring to the war loan, in a letter to the AYelJington Post say: —“As many persons may not have had brought home to them the great importance of the £8,000,000 issue of the Government AVar Loan being fully subscribed, and the disadvantages which would accrue to everybody in the Dominion wore it not so subscribed, we would ask you to be good enough to publish this letter containing, briefly, our views on the subject. On all grounds the success of the loan is to be desired; those of patriotism and the proper treatment of our soldiers, having been well expressed by those in authority, need not be dwelt upon by us, but there are other reasons affecting the people in a more or less direct manner. It wotdd appear that if the necessary money be not raised by the loan, it must be got by further heavy taxation, in which all classes must, either directly or indirectly, share; also the credit of the Dominion would suffer, which in many ways would affect tin* welfare of the people. Subscription to the loan does not mean a sacrilice or loss. The investment has never been equalled in New Zealand as a safe and remunerative one, and the return to normal conditions of the money market in a few years would cause it to command a substantial premium. The interest will be distributed in the Dominion, and will be available for investment in, and development of, the country. In about sixteen years the interest compounded will amount to the original principal, leaving the investment intact. Eirmly believing that full subscription of the loan will be no less beneficial to the individual inhabitants of New Zealand (with whose welfare that of the institution in which we have the honour to represent the ordinary shareholders is bound up) than to the Dominion as pari of the Empire, we >(rongly urge all who have 1 the means idle, or within view, to apply for a* much of the loan as they can a fiord."