Wairarapa Times-Age THURSDAY, MAY 21, 1942. THE FRONT OF SACRIFICE.

Wairarapa Times-Age, 21 May 1942, Page 2

Wairarapa Times-Age THURSDAY, MAY 21, 1942. THE FRONT OF SACRIFICE.

TN tlie comparative]}’ brief' period since the lists were opened, one-halt' of the Liberty Loan of £15,000,000 lias been subscribed —a progress result described fairly by the Prime Minister (Mr Fraser) as very good, but not good enough. A greater and more general effort is needed if the loan is to be over-sub-scribed, as it should be, within the next week or two.

One serious weakness of the position 1 as it stands is that not by any means enough of the money received for the Liberty Loan*lias come from small investors. It is imperative that this weakness should be remedied, and it ought to be remedied easily now that Liberty bonds are on offer, priced at £1 and redeemable in seven years at £1 4s.

It should be recognised in any case that the Liberty Loan appeal is a call to all citizens who arc able to do. so (including many who have not been accustomed to subscribe to State loans) to strike a blow on the financial front for their country and the cause of liberty. On this front of sacrifice, though if be but the sacrifice of non-essentials, men and women who are able to fight in no other way may play a fighting part in the war.

Those who have it in their power to make some addition to the Liberty Loan total and fail to do so arc in effect deserting the men of our fighting forces and merchant seamen who face unflinchingly the dangers of the battlefield and the high seas. With the facts before them, very few New Zealanders, it may be hoped, will be content to fail in that way those upon whose valiant efforts they depend for continued existence.

It is flatly inconsistent with the spirit in which this Avar is being fought and with the present and continued welfare of the .Dominion of New Zealand that investment in the Liberty Loan should be left to individuals and institutions in a position to lend large blocks of capital to the State. 'This is a people’s Avar and the people’s money must be thrown into the scale if the Avar is to be fought as it should be.

Numerous small subscriptions to the Liberty Loan, as well as large ones, are needed in order that the Avar may be financed in the best conditions. A free flow of money, in small as well as large amounts, at the same time will not only ensure the ample success of the loan, but will help to maintain the balance and strength of our national economy as the Avar is being fought. It will limit inflation and establish a better basis than could otherwise exist for the treatment of post-war economic problems when they arise.

Serious dangers are created by the expansion of purchasing power, side by side with a reduction in the available volume of .goods and services, as well as by the blows of the enemy. A loyal and united effort is needed as definitely on the front of sacrifice and saving as on the battlefield in order that both sets of dangers may be overcome. Small investors will, serve their country well and protect their own present and future interests by putting what savings they can into the Liberty Loan.