WAR LOAN SUBSCRIPTIONS.

Manawatu Herald, Volume XL, Issue 1816, 20 April 1918, Page 3

WAR LOAN SUBSCRIPTIONS.

A MILLION SHORT. COMPULSION NECESSARY TO FIND THE BALANCE. The Finance Minister, Sir Joseph Ward, made an important statement, to the press yesterday regarding the £9,500,000 War Loan. He announced that the amount of the. contributions received was £8,500,000. Upon the whole it was a good response, but he would have preferred, of course, to have seen the amount fully subscribed. It was evident, from information he had received, that a number of people had held back because they felt the compulsory clauses of the Act should be put into operation to ensure those who had not hitherto subscribed doing their part. He thought fhis was but natural, and, as he had already announced, the compulsory clauses would be put into force as soon as the necessary machinery was prepared. The Minister added that the Commissioner of Taxes would in due course serve the persons concerned with notices. They would have the right of appeal to an Appeal Board, and, if necessary, of a further appeal to a judge of the Supreme Court, so that people who felt they, had proper grounds for not subscribing had every opportunity of carrying the matter to final appeal. He hoped, however, that an early response from those who had not contributed would save the necessity for a considerable amount of correspondence and delay, and ensure to the subscribers the higher rate of interest.