BOROUGH COUNCIL AND WAR LOAN.

Manawatu Herald, Volume XL, Issue 1811, 9 April 1918, Page 2

BOROUGH COUNCIL AND WAR LOAN.

£SOO SINKING FUND TO BE INVESTED. At last night’s Council meeting the following letter was read from the Minister of Finance (Sir Joseph Ward).: — “When I addressed you in August last there was urgent need that those of us who have undertaken the responsibilities of public life should aid and direct in every possible way the raising of the War Loan. The response was splendid. Our island Dominion rose to the occasion. Our young nation proved a daughter worthy of the traditions of the Great Mother across the seas. The war for liberty —the Empire’s liberty, New Zealand’s liberty —still continues. The great crisis is at hand. Further funds are required to meet it. No appeal can equal personal effort. May I ask you, and the body over which you preside, to make a personal appeal and canvass among your people to raise the nine and a-half millions' sterling now required. Organisation means success. Many a one will lend £5, £lO, or even £SOO, if he is asked fo do so by a neighbour who is making an equal effort. No source of wealth may remain untapped. All must help. With confidence I again ask your best assistance.” The Mayor strongly urged the appeal. It was the duty of all who could afford it to subscribe to the loan. The security offered was preferable to British consols, which had no fixed (late of repayment. One resident whom, ho had spoken to had invested £4,000, and others would follow. He hoped the citizens would do all they could to assist fhe Empire in the present crisis. Cr Hurley asked whether the Council conic] invest its sinking funds ip (he loan. If so, he would like fo see all the sinking funds so invested. The Mayor said recent legislation had made this possible. Cr Bryant moved, and Cr Hurley seconded, the following motion: That this council assist in bringing the nine and a-half million war loan to a successful issue by canvassing flic people of the borough as far as possible, and that £SOO gas works sinking fund be invested in War Loan Certificates.