BIG FINANCIAL EFFORT.
WHAT NEW ZEALAND HAS TO FACE. (From Our Own Correspondent) Wellington, Jan. li. '"The people of this country have got to brace themselves for a big iinanciui effort —the biggest tliL.'v have yet made/' said a gentleman well known in banking circles to your correspondent. "The Minister for Finance took authority to borrow over £24,000,000 for war purposes this financial year, and he says that if the war goes on into next year an even larger sum will lie required. Well, tlicpe is no reason to believe- that the wai will end this year. Tlni Germans are not beaten, their faith in their submarines is not gone, and the Americans will not be able to make a maximum effort before 1919. Russia is out of the war and France will not undertake a big offensive, though she may strike hard here anil there this year. We have to reckon on the war continuing into 1919, and chat means, as far as I can see, that the people of New Zealand must provide not less than for war purposes after June next. Tliev can "do it, hut the effort will be great and the necessary sacrifices will be great,, too. We cannot face the facts too soon."
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Taranaki Daily News, 18 January 1918, Page 6
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209BIG FINANCIAL EFFORT. Taranaki Daily News, 18 January 1918, Page 6
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