VICTORY WAR LOAN

Bay of Plenty Times, Volume XVII, Issue 7150, 9 April 1919, Page 3

VICTORY WAR LOAN

Compulsory Clauses Still Operate Wellington, April 7

Spsaking to our representative iu • ga rd to the fiual victory loan of £10, 000.000 authorised hy the last session of Parliament, the Hon \rth^r Mjers, Acting Minister of Finance, stared that although a fair amount of money baa b een subscribed to this loa^i thr ugh the Trea ury it is "app-ueiu that the people do not realise that the compulsory clauses of the Finance Ace still operate, or that the raising of the amount in question is equally as important as those sums which w^re floated during the aciual period of hostilities.

''Our part in this war is nob complete, " said Mr Myers, " until we have fully honoured the obligations we entered into with the object of playing our part in the winning ol the great victory that has crowned the efforts of the Empire and our Allies It is to be remembered that not only is there continuing expenditure on account of our military forces until demobilisation, but there i=i also a large liability in re?pecS of gratuities to soldiers, cost of repatriation, etc. Until the moment ary roprGisibilities in every shape have bef n comp'etely met it is our duty to ma'ntain our ii oancial effort at full war strength."

ult may b^ well at this juncture, " added the Min-'ster, "to give a reminder that those tax payers not found to be subscribing adfquately ti the war 'oan will be approached under the compulsory clauses of tho Finance Act with a view of ensuring their nisiiine; contributions to the loan commensurate with their means The rate of interest payable en subscriptions exacted corn pulsorily is 4 of course, 3 per cent only However, I feel assured the urgency of the need for continued inve^-.m^nt n war loans stock has only to be placed before the nor ice or the country to be at onco recognised and complied with."

" Having regard to our large expenditure on account of way deb*," concluded Mr Myers, >: J therefore desire again to point out that, to my mind, the duty of each, citizen is no less obvious now than it was during the period of the war to produce to the fullest extent of his powers, to cultivate reasonable economy and thrift, and hand everything possible to the Rtnt-c* par medium of the wnr !oan, !J