WAR CONDITIONS

Dominion, Volume 36, Issue 226, 19 June 1943, Page 4

WAR CONDITIONS

N.Z. Most Fortunate Belligerent NEED TO SUPPORT LIBERTY LOAN “In December last our Government took an important step in regard to the internal economy of the country by introducing economic stabilization regulations which are designed to restrict inflationary tendencies and to minimise, as far as possible, the disturbance of our economy as a result of the war,” said Mr. A. T. Donnelly, chairman of. the Bank of New Zealand, at the annual meeting in Wellington yesterday. "Every country at war is taking action along somewhat similar lines, and it is encouraging to see that efforts such as this are being made. “We are fortunate in this country in that our major items of export are> al in demand, and for that reason New Zealand has been able to avoid some of the economic consequences of war. The primary production of the country has bee* well maintained and the farming community have earned great credit for th* efforts they have-made to overcome difficulties caused by shortage of manpower and otherwise.” „. . Referring to the Third Liberty Loan of £35.000,000, Mr. Donnelly said he was sure that it would be, and indeed must be, oversubscribed. On 'its success depended the stability of our national finance and our reputation as citizens of the British Commonwealth of Nations. We had a just but modest pride in the war achievement of New Zealand m battle abroad on land, at sea and in the air, and on the farms and in the factories, and in every other, department of our life at home. “We should never forget,” he said, "that we are the most fortunate belligerent country in the world, that our deprivations, disabilities, burdens and restrictions are featherweight by comparison with those of Britain, that by reason of the War there are other countries where great peoples live with the daily threat of death and hunger always over them. By contrast, in New Zealand we have been given a lovely, fertile, temperate land to inhabit, cherish and protect. We should understand how happily we. are placed and from a sense of gratitude as well as a sense of duty we must support those who have pushed the risk of invasion- away from these shores. Me must all be convinced of the truth of the statement, ‘lf a country values anything more than its freedom, it will lose it—if it is money or comfort it values more, it will lose these as well.’ ”