DEVELOPMENT LOAN

Press, Volume LXXXIX, Issue 27165, 8 October 1953, Page 7

DEVELOPMENT LOAN

MR GOOSMAN APPEALS FOR SUPPORT

(New Zealand Press Association) WELLINGTON, October 7. Only eight days remained before the Government’s £10,000,000 national development loan closed, and if it was to be a success, about two-thirds of the total had still to be subscribed, said the Minister of Works (Mr W. S. Goosman) in a broadcast address this evening in support of the loan. Mr.Goosman said he had been advised that, since the loan opened, investors had been slow to grasp their opportunity. The Government required the money for capital works of all kinds. No investment was too small for these undertakings. “It is good that as many people as possible should share in the responsibility of providing money for the country’s necessary capital works/’ he said. It was the people’s responsibility to assist the Government in its task of national development, the Minister said, but were the people who demanded the construction of buildings and other works adopting the attitude that it was the Governments responsibility alone, or were they doing what they could to assist? If all who were able to do' so were prepared to assist, then there would be no difficulty, and the- loan would be over-subscribed. New Zealanders as a whole stood behind these loans, and no-one who had invested in New Zealand Government stock had ever had to worry about the interest or principal, said Mr Goosman. “There -are many securities as good as New Zealand Government.stock, but none better,” the Minister added.