TWO MILLION LOAN.

Taranaki Daily News, 18 October 1915, Page 8

TWO MILLION LOAN.

HELPING OURSELVES. THE SILVER BULLET. By Telegraph.—Special to Daily News. Wellington, Last Night. The prospectus of the two million loan for public works, which is to be raised within the Dominion, was pub-; lished in the local newspapers on Saturday, and this evening the Minister of Finance made a statement to a number of journalists who sought information on the nature and purpose of the operation. "To all intents and purposes this is as much a war loan as it would be if it were raised directly for the equipment of armies, and the provision of munitions," said Sir Joseph Ward. "The' Mother Countty ha 3 undertaken to provide the money the dominions require for their military operations, a matter] of some five or six millions in the casej of New Zealand alone, for the current year, but with the enormous demands being made upon her in every direction we cannot in reason or decency expect her to finance our local expenditure as well. "In normal conditions we should have gone to London for this money, but the conditions to-day are not normal, and it behoves us as patriotic citizens of the Empire to shoulder the burden ourselves, in order that our work of development and production, which is of more importance than ever to the nation in the present crisis, shall go on with a3 little interruption as possible. The mainten-, ance and expansion of industries, trade,' and commerce are scarcely of less consequence than the supply of men in the present terrible struggle, and I am sure that people who realise this fact will not hesitate to assist in supplying what are essentially, and in a very special sense, the sinews of war. "There is no need to say anything about the loan as a means of investment. It will particularly appeal to the small investor, in this respect, there are no alarming formalities to be observed, no delays, no risks, no commissions to be paid. The interest is good, the security the best in the world, the time of repayment is practically at the option of the investor. His debentures will always be saleable at their face value, and probably at a premium. "Bui I would rather appeal to the sentiment of the small capitalist than to his business instincts. Many of us are unable to go to the war. Age, physical disability, domestic responsibilities, all of them or any of them, may tie us to our homes, but here we have an opportunity to do the next best thing to help on to the utmost of out means the sacred cause for which the whole Empire is fighting, to remind our kith and kin at the front that we are ready to do our part without stint, and- to demonstrate to our enemies that no difficulties and no sufferings—no opposition, however formidable it may seem—can weaken our resolution nor lessen our enthusiasm. "It may seem unnecessary for New Zealand to make' repeated displays of its loyalty here. We all know well how deeply it is engrained in the very life and being of the people, that even its expression may appear a superfluity, but our enemies, who miss no opportunity for the invention of new lies or the circulation of fresh slanders, are watching us as closely as ever to-day, with the same malign purpose as they started the war, and would delight in any excuse for the repetition of their infamous misrepresentations. I want to see the people of the Dominion, every man and woman, and even every child, joining in a united effort to send to them the answer which has been flung back by our countrymen at the battle front and in the trenches. We all can hurl the silver bullet, according to our financial ability. Let us do it now." The prospectus has been well received in Wellington, and financial authorities expect there will be a ready response, both by small and large investors. SUCCESS ASSURED. By Telegraph.—'Press Association. Wellington, Last Night. Sir Joseph Ward states that communications which have already been received from investors leave no doubt that the flotation of the two million loan locally will be a huge success. One particular advantage is that the small amounts in which stocks are issuable is suiting persons who have limited sums unemployed.