1945 VICTORY LOAN

Press, Volume LXXXI, Issue 24570, 19 May 1945, Page 6

1945 VICTORY LOAN

DOMINION TOTAL

£11,697,960 ALREADY IN HAND (P.A.) WELLINGTON, May 18. It was announced to-night that the total of the 1945 Victory Loan up to the close of business to-day was £11,697,960, Including new cash receipts of £246,627. Tne amounts raised and percentages of objectives in the 20 war loan, districts are now:— Wellington, £1,938,422 (53 per cent.); Auckland, 4£3,087,793 (52); Southland, £658,018 (52); Otago, £1,081,165 (47); South Canterbury, £271.685 (48); Wai* rarapa, £179,878 (461; Wanganui £352,127 (45); North Otago, £107,*47 (45); Northland, £193,202 (43); Taranaki, £404,071 (43); Marlborough, £111,338 (43); Nelson, £216,763 (41); Westland, £137,906 (41); Hawke’s Bay, £390,266 (41); Gisbome-East Coast, £178,035 (41); Buller, £41.617 (40); Walkato-King £540,843 (40); Canterbury, £1,171,376 (40); Manawatu, £439,745 (40); Thames-Bay of Plenty, £216,173 (39),

£1,133,000 RAISED IN CHRISTCHURCH

COMMITTEE ADDRESSED BY MR T. N. SMALLWOOD The actual amount subscribed to date to the 1945 Victory Loan in the Christchurch postal district was £1,133,000, said the chairman of the Christchurch War Loan Committee (Mr A. M. Hollander) at a meeting of the committee yesterday. Since the committee’s previous meeting, he added, there had been a remarkable response to the loan campaign from the women’s organisations of Christchurch; in fact, so far the women had responded better than the meh. The meeting was attended by the deputy-chairman of the War Loan Council in Wellington (Mr T. N. Smallwood). In an address, Mr Smallwood outlined the methods of financing the war which had been adopted in New Zealand, and said that of the total expenditure to date, 88 per cent, had been paid for from direct taxation; 43 per cent, had been defrayed from war loans and national savings; and 17 per cent, from the balance under lendlease. In spite of the ghastly waste of war, he continued the national finances of the Dominion were on as sound a basis as possible. One task of the national savings movement had been to encourage thrift. Some people seemed to have had the idea that, as they were provided for from the cradle to the grave, they could spend all their money. A campaign against unnecessary spending had been Initiated on a basis of the fact that without thrift no man could succeed, and no nation could become great. The early response to the present war loan had been very good, said Mr Smallwood. The amount asked for this year was well within the capabilities of New Zealand, and there were ample resources from which to draw. Canterbury had responded magnificently in previous war loans, and he was sure that there would be little difficulty in finding the province’s quota in the 1945 loan.

£29,000 INVESTED YESTERDAY IN CHRISTCHURCH

Canterbury subscriptions for the 1945 Victory Loan had reached a total of £1,163,236 last evening. Yesterday was “Army day,” and although the weather wes not good, approximately £29,000 was Invested. The local comiftittee hj working hard to maintain public interest in the loan, and a number of items of particular interest will be staged shortly. Mr K. Walker has been appointed country organiser and he will visit all centres in the Canterbury district.

ASSISTANCE PLJEDGED FOR INVESTORS

COMMERCIAL BANKS’ OFFER “ The Press " Special Service WELLINGTON, May 18. “ ‘Dear Mr So-and-So.~As your banker, I am again addressing you personally on the most important subject of war finance.' “Customers of the commercial banks are receiving from their bank manager a friendly letter .which opens in the terms just quoted,’’ states the National War Loan Council. “It explains how investment in the 1945 Victory Loan will be facilitated for those who have good resources or a buoyant income, and wish to obtain the ready money, by pledging their credit, to invest in the loan. There was a period of the

War when the material possessions -*r our people were threatened with struction. Fire*watchers. theorganisation, and enthusiastic r Guardsmen all save their time to KT v vide an efficient protective That dangerous moment has without a single tangible reminder v what could have happened except is hoped, a realisation that heavy **, penditure had to ne incurred, and nw human effort utilised. . • “Property owners still enjoying .‘"'j full benefit of undamaged possessi should therefore feel an pledge those saved assets, if nece»“.»j in order to pay the debt. SuWCrjj” tions to the Victory- Loan m a ? spread over four months on the of subscription announced in the ' pectus, where a longer term for W:: ment of scrip is required, are. prepared to make war man fri # vances repayable by instalment over eight months, during which w banks will charge not the usual oyw f, draft rate but the actual interest raw -1 of the loan. , “Tf you have not - already scribed.’ concludes the banker s . to his client, ‘may I suggest that fai M call and see me, when I shall to supply any further informatloOy™“| may desire.”’ ’ :