THE VICTORY LOAN.

Auckland Star, Volume L, Issue 247, 17 October 1919, Page 9

THE VICTORY LOAN.

CAUSE OP SHORTAGE.

A BANKER'S OPINION. (By Telegraph—Special to -'Star.") CHRISTCHURCH, this day. Asked to account for the shortage in the Victory Loan, a Christchurch banker, speaking to a Press representative, gave as the, main reason lack of enthusiasm coupled with the fact that as the stock of the previous loan was selling on the market at 95 per cent and 96 per cent, it seemed too. great a strain to ask people to pay 100 per cent, for the latest loan. Enthusiasm has disappeared with the close of the war, and many of those who did their duty in regard to loans during the war were now trying to do as little as possible. Very few persons had taken up more of the present loan "than was necessary to comply with their statutory obligations. A 44 per cent, loan did not attract the small man at all; he -wanted 5s per cent, or 6 per cent., but for the big man the loan was a splendid thing. It was not a email man's loan, for the tax free provision made no appeal to the man who paid little or no income tax. Post office insenbed stock did not appeal to people; they liked to handle their security. The Government was very much to blame in not really booming the loan The New Zealand Government, hopefully waiting for "something to turn up,' failed to enlist the assistance of bankers and other prominent men to help to boom the loan. Money should have been spent in the appeal. "