The Taihape Daily Times AND WAIMARINO ADVOCATE THURSDAY, MARCH 21, 1918. WAR LOAN ENTHUSIASM.

Taihape Daily Times, 21 March 1918, Page 4

The Taihape Daily Times AND WAIMARINO ADVOCATE

THURSDAY, MARCH 21, 1918. WAR LOAN ENTHUSIASM.

(With which is incorporated The Taihapo Post and Waiemrino News).

In the Chamber of Commerce, at Wellington, Sir Joseph Ward, by request, addressed a very large and a.very enthusiastic meeting of businessmen and men of finance, on the subject of the ■ nhfe-and-a-half millions War Loan. It is not our custom to quote at length from any source, we rather prefer to use this column for comment and criticism; but this War Loan is an exceptional subject; if there is any opinion opposed to it we may at once look for some want of knowledge and understanding. AH agree that the British Empire cannot accept defeat and degradation from Germany, and all know that to achieve victory all the men. and all the money the whole Empire can gather together is required. During the address hereunder quoted from, the large meeting, presided over by Mr. Harold Beauchamp, Chairman of the Bank of New Zealand, punctuated with applause Sir Joseph Ward's statements about this country's duty in the prosecution of the war. Among other things Sir Joseph Ward said: "It was, a big responsibility for this young country to have to provide all the moneys required for carrying on our portion in this great war. But we must all realise that the war could not be carried on unless the money was found; and all the fine work on behalf of our soldiers, now and in the future, would be of little avail unless we had the funds necessajy to-earry on the war to a triumphant conclusion. The men at the front, anil those who had returned from the frent, could tell them all the trials ( they had gone through and what the war- meant —the gigantic proportions in; which' human beings were engaged in; fighting on our side for right and freedom; and it would be a sad thing, indeed, if at this juncture we were i to ! fail in providing the necessary amount for carrying the fight on. He was certain from what he knew that to the end the country would find all the money required to prosecute the war to a successful issue. He felt hopeful —he would not say "certain" —that the compulsory clauses would not be needed, to make any financial shirkers do their share towards raising the money. But the clauses would be. put in operation if the class of people referred to did not respond as they ought. That was not said by way of threat. The responsibility at such a juncture, when they were being asked to save themselves and the Empire and humanity at large was too great to make use of a threat. But unfortunately, there were financial shirkers as well as human shirkers in the country, and it was an unfair thing for any of them to hold back from the War Loan in the hope of getting higher interest later on in the aftermath of the war. It was unfair when others had box rowed to an extent totalling millions to enabel them to subscribe to the loans. It would be a very sad thing if they had to disclose the names of people who had s shirked their duty, and he made this appeal to them to subscribe voluntarily and not put the blot on the countrj of having to compel anybody to do their duty in this matter. But let us look at what we had to do Inday. The total amount borrowed for all services since the commencement of the war amounted to £52,000,000 of which £32,500,000 had been borrowed in New Zealand and £19,500,000. in the Old Country, That was a tremendous sum for such a young country to take upon its shoulders. But if the necessity arose, they would accept responsibility for double or treble the amount, so long as thej r could win the war. When he saw people commenting as to whether it was right to borrow large amounts at 4$ per cent, free of income tax, his answer was that those who gave least and were least concerned in the responsibilities involved were those who had most to say about how the money should be raised. His responsibilty was that they must have the money, and what was the use of people talking to him about what they would do, when they had no responsibility and we would not get 2id in coppers out of most of them towards meeting these great responsibilities. It was a v.?ry large extent very men, who were being asked to nrovide the great b u n c of thig free of income tax, who were goino- to bo called upon to provide the ordinary taxation of the country to enable it to pay its way."