THE WAR LOAN PROSPECTUS.

Taihape Daily Times, 18 March 1918, Page 4

THE WAR LOAN PROSPECTUS.

On Sauruay we published the Prospectus oi the someume heralded War moan, ana it again appears in this issue. We particularly commend it to cue wealthy people of this large and wealthy neighbourhood. Taihapo stands in the centre of about the wealthiest county in New Zeaaind, the proud Rangitikei; 'truly a land bowing witn milk and honey. There are very many wno win Imu it a pleasure a privilege to lead an. the money tney „au muuc a Valia me in helping at tins critical stage or tne war; tnerU are. others who will leel that a uuty is before them that they cannot, fail to perform without incurring danger and dishonour; there may be some miserly ones who would shirk the duty which confronts ■ them only for the fear, the awful possibility that their money might be taken from them, taken from them in the conscription of wealth or that their greed might be the deciding factor in giving Germany the victory, but this is conjecture, for we no grounds whatever for thinking even that such criminal foolhardiness exists amongst us. The War Loan certainly provides one of the very best investments in addition to involving us in a supreme duty. The interest offered is 4£ per cent free of income tax which means at least 6S per cent. This enables those who •have not the cash available during the currency of the issue to borrow from their bankers, a mere Hypothecation of their profits to come from sales of meat, wool, or butter. In fact the terms of the Loan are so favourable to the lender that they are the subject of considerable adverse criticism. It must be realised, however, that when millions are wanted wealthy men imust be encouraged to borrow" so as to get from them an honourable performance of their duty. It is scarcely just to ask a man to pledge his property for money at 6 or 7 per cent, to lend to the State at 4J per cent., even temporarily; but by making me 4S free of income tax he" is compensated for so doing. Those who nave money available, of course, get the full benefit of the freedom from income-tax. They lend on unchallengeable security at a remuneration that is offered iu ordinary investments. The present Loan has all the attractiveness of the two previous issues. Bonds and Stock are issued for £IOO and upwards, both of which may be Inscribed. Interest on inscribed stock is transmitted by post to the lender on due date, interest on bonds is paid on production of the coupon accompanying them. Interest on both warrants and coupons is paid free of exchange at any postal money-order office or at any branch of the Bank of New Zealand in this country, in Australia, or in London, as may be arranged. Those with moderate means can invest in Post Office War Loan Certificates as law a sum as one pound, which is repayable to them with compounded interest in five or ten years, as they may elect. Post Office War Loan 'Stock will be inscribed for £IOO or multiples thereof, hat n °t f° r any sura exceeding £SOO, at o per cent., but such stock is not free of income-tax. The term is for ten years. Sir Joseph Ward expresses confidence in the people doing their duty to the State, and he anticipates that there wil be no necessity for compulsory levies as provided for by the "Finance 'Act, 1917.”