THE NEXT LOAN.

Bay of Plenty Times, Volume XLVI, Issue 6976, 15 February 1918, Page 3

THE NEXT LOAN.

: Statement by Finance Minister.

Asked hy a Chriptehurch Sun representative osi Saturday of tlie position in respect to the War Loan.Sir Joseph Ward (Minister for Finance) said that the balance of the authorities for this present loan would be put ufcon the market some time in March. "It will be under £10,000,000," said Sic Joseph. " I cannot exactly say what will be the amount, but it will puseibly be £9,000,000. lam not quite certain. It will be governed to a large extent by the amount of money coming through the Wai- Certificates issued by the Pest Office. They have been corniiig in pretty freely for some time pest, and the more of them that came in the less the a'sr.utit of the laan. I would not ba surprised to find it is £9,000,000. It may ba a few hundred thousand ever. I cannot sa>> positively at the moment. This will complete the whole of the loan authorities that Parliament has authorise:! up to now. Of necessity there will lequire to be further War Loan authorities taken. *. "Will they be sskei for at the coding short session of Parliament?" asked the reporter. Yes, certainly" replied Sir Joseph. "If lie war expenditure continues beyond the end of July next then the amount we have would ?iot (Tarry us beyond that date and whatever amount may be required to he arranged afterwards will require Parliamentary authority to issue the loans specifying the maxinium amount. That would require to be dor.c during the short session otherwise we would be iin a position of not being able to provide fnr war expenses after tbe end of July. "The last amount'" authorised wes £28,000,000. Tins amount now to be placed on the raaiket ia the balance of it. Tie amount is large and gives out an idea of whet provision a greßt war inears for - a country such ss this. Sufficient authority must be taken to meet 'he financial requirements,which fluctuate in proportion to Iho ectual servictf at the front and the number of men from tiwie to timo engaged in the battles there. But for the unhiiuwr, or rather the uncertainty of i this portion of carrying on the war, we have sufficient knowledge of any definite requirements otherwise for ordinary purposes, but there ia no one either here or at Homo who can tell what the war engagements at the front may require financially. As 1 have explained before, we pay everything in connection with our part in the war." The new lorn, said Sir Joseph, would provide for instalments as the previous one did. "It would hi placed on the market in the same way?" asked the rci porter. •'1 would net like to say that, "replied Sir Joseph. "The last instalment of the last iui*n ia due catly next month --- befvro tho middle of tht mouth. As so mi ik; I am in r> jicsitiun to do so, the loau will he ndvotlised throughout Use counlty."