THE WAR LOAN.

Taranaki Daily News, 23 August 1916, Page 8

THE WAR LOAN.

THE WAR CERTIFICATES. necessity fob educating the PUBLIC. By Telegraph.—Press. Association. Wellington, August 21. ''So far as war loan certificates fiom £1 to £3O through 'tlio'iPost Office are concerned," said Sir Joseph Ward to"as I have already intimated, applications for these will not he closed for some, weeks to come! This is an entirely new scheme, and a different class of investor is brought by it into touch with tlie financing of the country for the first time in its history, and, as in every other walk of life when a new method affecting a class of people who have not been investors before is- brought into operation, necessarily longer time is required to give those who have not seen the advantages, and,- indeed, necessity, for joining in the undertaking, an opportunity for full consideration and to give the Government also an opportunity for the education propaganda." Asked whether tlhe war loan certificates would be left opeh indefinitely, the •Minister said: "I don't think that is necessary; in addition to which I look forward to the time when we shall get back into the ordinary groove and to the time when there will be no necessity for investments for,war loan purposes, but when, as I have said, people are brought into the financial field for direct investment in the war loan for the first time.. I think it is only right to give them further time to enable them to have a| monetary interest in the war. The- 1 limes through which we are passing are such that the greater the number of our people, from the humblest to the highest, w'ho arc directly helping to carry on the war, the better it will be for' the country when the war is over, for then a keener interest, and, I hope, a more effective one, will be taken by all classes in the country in changes that must then eventuate.

'•I have just received advice from the Secretary to the Tost Office, who says that in his opinion the war loan certificates sold so far-represent only a fraction of what will be sold. That Uan opinion in which I concur. The war loan lias been over-subscribed, and 011 behalf of the country I will retain the full amount. Allotment will be made in full to all who have subscribed. None will be disappointed. Only eight millions was asked for locally, but Parliament authorised 10 millions in all, and the needs for money for war purposes are sutjii that the surplus can be readily, availed of, so that there will be 40 disappointed applicants." (NAPIER'S CONTRIBUTION'.I'. 1 '. / Napier, August 2'2. In connection with the war loan, in Napier city £17,230 was invested (which includes some of the larger amounts put through the banks). In Napici district, which extends to near Woodvil'le, 15,720 certificates were bandied. The total investments made in the post o(fives throughout the district were £50,000. The figures representing the business done by the banks are not available,