LIBERTY LOAN

Wairarapa Times-Age, 9 June 1943, Page 2

LIBERTY LOAN

MASTERTON EMPLOYERS GIVE SUPPORT ENCOURAGING CONTRIBUTIONS FROM EMPLOYEES. GROUP COLLECTORS APPOINTED. Masterton employers, at a wellattended meeting held yesterday, unanimously supported proposals put before them to encourage employees to subscribe to the Third Liberty Loan of £35,000,000. Mr J, H. Cunningham presided in the absence of Mr T. Jordan, chairman of the Masterton Liberty Loan Committee.

The meeting agreed that employees could best be encouraged to contribute by (1) urging an increase in National War Savings in existing groups, such increases, if not made permanently, to be for a period of several months, preferably up to March next; (2) by employers purchasing bonds for subsequent resale to employees on the instalment plan; (3) by encouraging the formation of staff groups to buy bonds on the instalment plan, the order of issue of bonds to be determined by ballot at the end of the contributing period. Mr Cunningham appealed to those present to assist in every way possible to secure the success of the loan. He emphasised that it was everybody’s concern. Although the amount asked for appeared to be large, if they valued their homes and families, their freedom of religion, standard of living and social services, the amount in view paled into insignificance. The Postmaster, Mr M. M. Simpson, stated that a good deal of the work associated with the raising of the loan was entrusted to the Post Office and the department’s organisation was available for that purpose. Any help or assistance that might be required would be readily forthcoming. Referring to the question as to whether it was wise to withdraw money from.the Savings Bank for investment in the loan, Mr Simpson said that anything which represented a surrender of purchasing power in the hands of civilians to the Government for war purposes was a contribution to the Government’s opportunities to finance the war. Citizens made their maximum contribution by saving and lending their savings direct to the Government by contributing to National Savings or by subscribing to the loan. That made an even greater contribution than saving and putting savings in the Savings Bank, as in the latter case a portion had to be kept back to meet withdrawals, whereas the whole of the amount invested in the loan was available for war purposes. The extra money asked for by loan contributions was required to pay the men in the Army, Navy and Air Force, for the construction of camps, making of equipment, building of aerodromes, aeroplanes, bombs, munitions and to pay for war expenses overseas. In reply to a question, Mr Simpson said it would not be fair to try to get all the money required by taxation. The cost had to be spread and the fair-, est way of doing that was to provide part of it by taxing current incomes. About half the cost had been provided that way. The fairest way of getting the other half was to borrow it from people who could lend it from their savings and who could lend part of their current income by postponing some of their expenditure till after the war. Taxation meant cutting down expenditure permanently, while lending money to the Government to help pay for the war only meant postponing expenditure.

The employers were also addressed by Mr J. D. O'Connor, local Liberty Loan organiser, and as a result it was decided to appoint group collector? within their respective concerns, with a view to securing from their employees the maximum contributions to the loan.

It was agreed to hold a meeting of group collector’s on Monday next when full information regarding various methods of investing in the loan would be given.

YESTERDAY’S CONTRIBUTIONS

TOTAL OF £4,720 RECEIVED.

Masterton contributions to the Third Liberty Loan yesterday totalled £4,720, including £l,OOO from Mr H. E. Pither.