VICTORY LOAN

Press, Volume LXXX, Issue 24372, 26 September 1944, Page 6

VICTORY LOAN

BUSINESS AFFECTED BY DOMINION DAY CANVASS OF CITY AND SUBURBS The celebration of Dominion Day affected business in connexion with the Victory Loan in Christchurch yesterday, the offices of ail brokers being closed. The sum of £43,578 was invested. But about £300,000 is required each day in the Christchurch •district to fill the loan requirements. It was expected that, as a result of a radio appeal, considerably bqtter business would have resulted. Those who have made promises are requested to call and transact their business as early as possible. The country organisers have completed a review of all districts, and are now engaged on a return visit to Oxford. Rangiora. Hawarden, Dunsandel. Rakaia. and Ashburton. It is hoped that interest in these centres will be increased and that good results will be obtained. At present a team of volunteers is engaged in a canvass of small shops and offices. A feature for this week will be a procession of primary school children through the streets on Thursday at further lists of subscriptions include; —lnternational Harvester Company of New Zealand, Ltd., £5000; John Chambers and Son, Ltd. (part of New Zealand contribution). £1000; Atkinson and Son, Ltd.. £500; Sisters of the Community of the Sacred Name. £500; R. Buchanan and Sons, Ltd.. £500; J. H. Mackenzie, Tai Tapu. £250; A. J. White, Ltd., • £1000; New Zealand Newspapers. Ltd. (Dominion contribution £20.000) £10.000; National Mortgage and Agency Company. Ltd., (part Dominion contribution £28,000), £3000; Cash Order Purchases, Ltd., £1000; Maling and Company. Ltd.. £1000; Royds Bros, and Kirk (Christchurch). £500; Automobile Association (Canterbury). Inf., £500; Otago Farmers’ Union Mutual Fire Insurance Association (Christchurch quota). £500; E. and F. Wilding, Cheviot. £3OO. The total investments in Canterbury are £1.278,160. and the total quota is £4,146,000. Investments up to last evening, with quotas in parenthesis, were:—Christchurch, £999.876 (£3,170.090); Akaroa. £9136 (£25,412); Amberley £5363 (£21.536); Ashburton. £79.938 (£383,170); Cheviot. £12.879 (£23.686); Culverden. £7117 (£12,768); Cust, £3IOB (£6371): Darfield, £11.369 (£22.563); Dunsandel. £2687 (£10193); Duvauchelle, £1579 (£3896): Hanmer Springs,' £3612 (£10,344); Hawarden. £3509 (£24.536); Hororata, £7745 (£14,741); Kalapol, £9053 (£58.707); Kaikoura. £12.216 (£38.945); Kirwee, £1445 (£4000); Leeston-Southbridge, £18.207 (£40,745); Lincoln. £4721 (£9618); Little River, £BBI6 (£14.515): Lyttelton. £17.004 (£58.070): Oxford. £7533 (£26 004); Rangiora. £22,523 (£101.000): Sefton. £1955 (£7644); Sheffield. £3077 (£10.617); Tai Tanu. £1056 (£6640); Waiau. £9349 (£13,617); Waikari, £13,421 (£17,768). DOMINION TOTAL £18,287,651 (P.A.) WELLINGTON, September 25. The amount subscribed to the Victory Loan to-day was £1.034,638, making the total to date £18,287.651. ' Objective percentages , obtained to date are: Southland district, 66 per cent.; Auckland, 58; Otago, 49; Taranaki, 47; Marlborough, 46; GisborneEast Coast, 45; North Otago, 43; Wanganui, 42; Manawatu, 39; Hawke’s Bay, North Auckland, and Nelson, 38; Wellington, 37; Buller, 35; Wairarapa, 33; Waikato-King Country and Canterbury, 32; South Canterbury and Westland, 31; Thames-Bay of Plenty, 30. REPAYING WAR LOANS METHOD EXPLAINED (P.A.) WELLINGTON, September 25. “War needs make war loans imperative, and the amounts, though measured in millions, are not raised without regard to the normal peace-time provision for ultimate repayment,” states the National War Loan Com-' tnittee. “Immediately the Victory Loan is Subscribed, the New Zealand Treasury will commence to set aside from current revenue the amount directed in the Repayment of Public Debt Act, 1925, to constitute the sinking fund lor redemption. This system operates in exactly the same way as the familiar table mortgages, and whatever Government may be in power it cannot be varied unless the' legislation is repealed. “The question will be heard during the. war loan campaign, ‘How will it be possible to repay our huge debt?’ The method has just been explained. The fact that, unlike the rest of our public debt, war loans are not spent on revenue-producing undertakings, does not undermine the repayment system. Repayment over the years to come will be made _ out of the productivity of the Dominion. Turned to such good account by an industrious population, our production resources have increased as a result of the war. New factories have been opened, new industries established, and the land— Sreatest producing asset of all—has een turned to account in a greater variety of ways, notably the raising of a crop entirely new to the Dominion, linen flax. Only those with no faith in their country’s future could have any fears about investing in a victory loan.” ____________ RESPECT FOR RED CROSS GERMANS WATCH WOUNDED BEING REMOVED (Official War Correspondent N.Z.E.F.) RIMINI. September 23. A striking instance of respect for the Red Cross symbol, even in the heat of battle, occurred to-day during the fighting above Rimini. A carrier driver of the Wellington Motor Battalion who had come forward to pick up some of our wounded was told when he reached the line that in a house some distance away across the fields there were some German wounded. In his carrier, which bore the Red Cross sign, he drove to the house, picked up three enemy soldiers—one wounded and two dead, the latter for identification. He was just leaving to return to our lines when he noticed a group of Germans not 10 yards away. He drove on and hoped for the best. The best did happen for they watched him leave without raising a hand. ■ '