Manawatu Herald THURSDAY, MARCH 21, 1918. NEW WAR LOAN.
MR, W, F. MASSEY made reference at Feilding on Tuesday to the new War Loan of £9,500,000 which Parliament was to-day asking the public to subscribe to, and which, in his opinion, would be fully subscribed, He said twenty years ago, had they asked the country to raise a loan of a million, or a half, then people, would have said that the country would be ruined. Now the National Government asked for a loan, and it is subscribed. Continuing, Mr Massey said that the fact that they were able to raise the money in their own country was a most unusual thing, and unknown before the war. They were spending nearly £30,000,000 annually in carrying on the war, and against this sum they had their produce, which the British Government had agreed to take. In his opinion, the latter had treated New Zealand generously and well. The difficulty was the shipping, but the British Government had to find that, and he expressed the hope that all would be well in this matter. Since March, 1917, the Imperial Government had received nearly £60,000,000 worth of our produce. The Shipping Controller had treated New Zealand very well with regard to shipping. The flush of the season was past now, but during the first two months of the year £7,500,000 worth of produce had been produced and the average in March would be good. The arrangements whereby our produce was bought had thus enabled the people to carry on their part in the war, and he hoped that they would be continued.
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Manawatu Herald, Volume XL, Issue 1804, 21 March 1918, Page 2
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269Manawatu Herald THURSDAY, MARCH 21, 1918. NEW WAR LOAN. Manawatu Herald, Volume XL, Issue 1804, 21 March 1918, Page 2
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