WAR LOAN MEETING.

Taranaki Daily News, 24 August 1917, Page 8

WAR LOAN MEETING.

PUBLIC MEETING. A public meeting, convened by the Majwr (Mr. C. 11. Biupss) at tiie re'(jue.-.; of the Jiiiiibie; u; Finance. j-o dis-n-iiss the prjpoaisd now war loan, was held in the (Soldier./ Club. Plymouth, last uigiil, about 4(i ladies and gcnllelntm bei'-g present. The ttpolngip? for absence fxow the meeting vtre read:—

•Hon. 0. Samuel. aficr referring to the noble response of Taranaki iu the call (if "die J'liifiiro. and to the • rr■■ ;it pecuniary sacrifices that have been and ire being mais, said thp time is coming. if it has not already arrived, when voluntary gifts must cease, and compulsory taxation, with loans to be repaid in future years, must provide the •"m-ds requisite lor all purposes. It was only by the strictest individual economy and the avoidance of extravagance that N't'>i" Zealand can .succeed in doing her duty. The loan proposals were, lie said, attractive, ana he expressed his •confidence llim each would <lo his duty to the l>est of his ability in responding to the call of duty now made. He also commended investments in this loan as beuig safe as well as remuncra.4s ve. Mr. H. Okey's letter stated that the success of the war-loan was of the utmost importance, as the Dominion had taken •on fmaneiai responsibilities aij>oi£riting to two millions a month. It was for tlioso who are unable to go lo make every possible sacrifice to assist in providing the silver bulleta. The assistance of all classes was needed to ensure the success of the loan, no matter how small the subscriptions, and lie had no doubt that the people of TaruTiaki would do their share to provide the funds, as they ha<l done, and were ■doing in providing men. Mr. YV. T. Jennings, after lt-ferring to the greater necessity for this year's loan over that of last year, emphasised the fact that the loan was urgently required and lie urged all who had the means to subscribe generously , and those who were less fortunate to do the best they could to swell the amount. ''l feel sure." he concluded, "our people of Taranaki. both larae and small poss-i essors of wealth, will rise to the occasion nnd show the other parts of the Dominion that loyalty to the Empire, King • and I'lag has ever been our watchword."

The Mayor said lie was glad to see some ladies present pulling to .shame taose men who had found the night too <:old to venture from their homes. The Minister of Finance urged that every effort should be made to make the loan a success, and to secure that end, not only should public meetings be held, bin encrgeiic committees funned to canvas Jor actual and definite promises of sup. port. The Minister also asked that the local organisation should be adequate to meet the requirements of so great an occasion, "flit Alayot- then moved: "That this meeting earnestly urges all who can to subscribe to the war loan now being floated. 'Apart from the bonds oll'i-ring a profitable pecuniary investment to (lie holders, it is the duty of each New Zealander to strain every effort to contribute funds for the prosecution of the war 111 which the Empire is engaged.'' That the •(Government had good cause to eo urgently desire that no stone should be left unturned to nake the luan a success was shown l;y the fact that up to date the Dominion had spent some thi.'ig like .C2S.wiiO.OOi) on the war. thai its expenditure being something like .C 2.1 UiJ.oiMj a mouth, and thai at the end of the financial year its liabilities under this head would be something like IWO/jIW. Money was urgently needed, and the only way to get it was by loan. Last year ;CS,l)uu,utio was required, and (he Government adopted a self-reliant policy by raining the money in the Dominion. Tiiey had adopted the same Voltcy this year, and could not risk failure. The people as a whole had responded freely on the last occasion, and would no doubt respond as freely this time, but it would not do to take too much for granted. In appealing for the sneers ui the loan, the Government asked for ver: little sacrifice, as in "i, 10 or 21 years, as the case might be, they would receive their money back again in full, in addition to being paid a reasonable interest for the whole of that period. Many might find it inconvenient, but what was that compared with the sacrifices made by the men at the front, and those continually passing oil their way. The loan was one that specially appeared to their patriotism. It was' essential to impress on the small investor that his money was as valuable and as necesstrv as that of the larger subscribers, all being urged to do their utmost. The Motherland was hard put to it, jind it was their bounden duty to do all they possibly could to assist, her. On tlie 4th of this month the citizens of practically every town in the Dominion declared their inflexible determination to continue the war to a successful issue, am. the time had come to put that resolution to the test, and raise the money so necessary to carry out their pledges in connection with the war. (Applause). Mr. A. Mcllardy, in seconding the motion. said there were few who "could not do a little to assist in the financial wa» They had the men, but they must have' the money to carry on the war to a successful conclusion. It was not a matter of giving the money, but cf investing it a t ratp 0 f j' n(el ._ est. Everyone had now an opportunity of doing something to assist our country ill its hour of need. It was imperative that all should assist according to their means. Large contributions were defiirable, but the small man's mite was also of importance. He hoped the day was not far distant when the arms of the Allies would have achieved decision mid victory. (Applause). The Rev. W. A. Sinclair sp.id these ivcro days when patriotism and religion joined hands. He urged all to do everything in their power to make the loan a success. (Applause). Mr. A. H. Johnstone said that unless there was a thorough heart searching many might escape their obligations, and it was necessary, to make the loan a success, -hat all should contribute. It was their duty to get, if possible, every member of the community to contribute according to his or her means, which would not only assist the Empire, but also inculcate habits, of economy and thrift among the people to which "many were not at present over-addicted. Mr. E. Griffiths also spoke in support of the motion, and suggested that employers should advance sums to their employees, to be repaid by small instalments from l heir wages, to enable them to invest in the loan. \ Mr. J. McLeod strongly favored the suggestion of the last speaker as being rn eminently practical one, and thought it might Tie extended to local bodies and financial institutions. The motion was then put and carried unanimously, aiiiid applause. The following gentlemen wore appoint--1 ed % committee, with power to •W'.to

their number., to further the objects o£ ihe meeting: Messrs P. S. Johns, E. P. Webster, A. MeJlardy, W. J. -Penn, J. McLeod, J. Clarke and C. Carter. The I'Oinmittce subsequently elected Mr. Mcllardy as their chairman, and decided to meet to-night at 7.30. On (he motion of Mr. J. McLeod, it was resolved to ask the Government to publish daily reports as to the progress of the loan. A vote of thanks to the Mayor closed the meeting.