LOANS TO STATE

Wairarapa Times-Age, 18 March 1940, Page 7

LOANS TO STATE

IN AID OF WAR EFFORT

FINANCE MINISTER’S APPEAL.

EVIDENCE OF NATIONAL DETERMINATION.

(By Telegraph—Press Association.) WELLINGTON. This Day.

An appeal to citizens to volunteer what financial assistance they con Id tor war purposes was made by the Minister of Finance, Mr Nash, in an address last night. After enumerating soni'e of Ihe amounts already received, ho said the range of remittances covered every class in society. Some of the loans and gifts ranged as low as £2, but they covered a generosity and spirit equalising in.inspiration the contribution of a million from the Bank of New Zealand.

Extracts from some of the letters that had accompanied remittances were quoted by Mr Nash, who said they were very fine examples of willingness to help in the present crisis and showed a national determination to assist in the preservation of international justice and democratic rights, Mr Nash also appealed for more production.

“During the past week.” the Minister observed, “I have, with other members of the Government, been engaged in discussing subjects that to a major degree affect our war efforts —Finland, its heroic fight and war cost of £75,000,000, the unloading and loading of ships, and import licenses for the fourth period. All involved difficulties that required quiet and sustained thought, but during and after the meetings and conferences at which these subjects were discussed I was continuously sustained and at times thrilled with the mail that came in. Every day brought evidence that the case for equality of sacrifice had only to be stated to bring its response.” GENEROUS RESPONSE. Mr Nash said that his appeal a week ago had brought a splendid response. He recalled that the appeal was based on the spirit of the soldiers who had volunteered. “It was pointed out,” said the Minister, "that we are in this war to defend ourselves, our traditions, our standards, our freedom, our democracy, and that this meant money as well as men. I stressed the Government’s belief in the essential soundness of a ■pay-as-you-go policy’ as against a heavy borrowing policy with its inter-, est burden leaving the soldiers to come back after the war to help to pay.” Mr Nash said he thanked all those citizens who had sent in cheques and cash either for interest-free loans or straight-out donations. To date, approximately £1,230,000 had been received, which meant that since the previous Sunday night nearly £200,000 had been sent in. "We should bear constantly in mind the impossibility of foretelling just how the war may develop, not only in a military strategic sense, but from the point of view also of its economic consequences to the countries involved, the countries not involved, and this Dominion,” said the Minister. "Because the present war, at least in its initial stages, has followed a different course from the last war, some people may have failed to realise sufficiently how seriously their security and their liberties are threatened. RESTRICTIONS NEEDED. “Furthermore our isolation and distance from the storm centre renders it difficult for many of us to realise the seriousness of the position, but I want to assure my listeners that we and othei’ members of the British Commonwealth are at war against a strong and determined nation and every effort on our part must be directed toward a victorious termination. To do this means personal sacrifices. “Our soldiers going overseas are prepared to do their part, and it is up to all of us who remain behind to do likewise by giving what service and what financial assistance we can. As I said last Sunday, a further £1,600.000 is required to square the war expenses account up to the end of this month, and thereafter the aggregate expenditure to be provided for in New Zealand will exceed £1,000,000 a month. It is a big hurdle, but we are over the hurdle to the extent of £200,000." “The war can only be carried on out of current production," said Mr Nash, in conclusion. “What we are short of in this country is goods and services, which are required as much as money. The food, the clothing, the equipment and other essentials used by soldiers and civilians must be produced as the war proceeds. The farmers are responding splendidly.. Dairy production is up. General work on the land and in the factories is proceeding at a pace exceeding anything before. “We have still some distance to go, but if the work is characterised by the spirit of the men who are going overseas and those who will give of their money we can win through, holding our institutions and standards with their freedom and liberty, and go forward to the better conditions possible as science makes its contribution to progress.”