GOVERNMENT LOAN FOR DISCHARGED SOLDIERS.

Manawatu Herald, Volume XLII, Issue 2197, 2 November 1920, Page 3

GOVERNMENT LOAN FOR DISCHARGED SOLDIERS.

CAMPAIGN BEGAN YESTERDAY

Between to-day and November 25th the public of New Zealand will be asked to subscribe the sum of £6,000,000, the amount ne'eded by the Government to cover the cost of re-establishing discharged soldiers in civilian life. This loan is to have a currency of twelve years, and will bear interest at the rate of 51 per cent. The bonds are to be issued in denominations of' £IOO, £SOO, and £I,OOO. Stock will not be issued for any sum less than £IOO, and any sum issued in excess of that Jigure must be in the multiple of. ten. Interest is to be paid halfyearly on January 15th and July 15th, and will not.be free of income tax. The first interest yvill be paid on July 15th, 1921. To enable people of moderate means to subscribe to the loan an issue of Post Office cert i licit los will be made, with interest compounded at the end of live and ten years. Jn this manner small investors will be able to purchase for 11s 9d a certificate that will be worth £1 in ten years’ lime, and they will be able to buy live-year £1 certificates for 15s Jd. For (hose who wish to invest pounds rather than .'hillings, £.lO worth of I endear certificates will be purchasable for £5 17s (id. To enable the public to purchase these certificates readily the Secretary for the Post and Telegraph Department (Mr A. Markinan) has. made arrangements for a number of citizens to explain the details of the loan at convenient places in the cities from yesterday, and there will be those with tjiem who will be prepared to do business with the public there and then. “it is not necessary for me,” writes (be Prime Minister (Mr Massey), “to stress the point that subscriptions to this loan (the last of. the war series) should bo made as freely and spontaneously as possible, even if, in the subscription, .sacrifices are entailed. The man for whose benefit it is being raised did not hesitate when the call for sacrifice came to them, and it is to their ready response and action in the lime of national peril that we owe (he preservation of our homes and liberties to-day. They took their ’lives in their hands, many of them have returned crippled and otherwise disabled from the war, while more than 1(5,000 made the supreme sacrifice, and are numbered with our ‘glorious dead, whose name liveth for evermore,’ and whose example silently appeals to us that, while we should cherish their memories and care for their dependants, we should not overlook the claims of their fellows who, having in the order of Providence, survived the fiery ordeal of battle, have returned to ns, and have to be resettled in civilian life. The loan itself is of the reproductive order, and eventually every penny of the money subscribed will be returned to the Slate. If is offered on liberal terms; the security is good; the whole credit of the State is at. its back, and the duty of finding the money is incumbent upon ns. The men in whose interests it is being raised are worthy of all the assistance we can give them, and, while subscription has been made compulsory, I feel sure it will not bo necessary to enforce the penalising clauses of the Act which, authorises its flotation. W c want a rpiick response in the shortest possible time.”