SECOND WAR LOAN

Evening Post, Volume XCIV, Issue 40, 16 August 1917, Page 7

SECOND WAR LOAN

THE NEED AND^THE

TERMS

-WHY-SHOUIiD ONE * SUBSCRIBE*

■"EVEBY"Lrm«E- HELPS?*

Three y«ars"Jia»~*h«Kwaasskateii;:i!a«d no one can say when-it'shall end. fa* numerable . experts— -na,va,l, Jtaßterx, financial, shipping, and social--have^seen, their .prophecies fail, their predictions falsified, their theories overturned. !Eh« .happening of"Miiei- •uneipccted'vhassjfoiaid' fehe'.propheta ait-fault.

The Germans have made'ifc.quitetfdear that ithew»real objeotsis to-crush Britain. If this is-attained Newv-'Zeahaid' will also ■be crushed. "If ithe war had gone against us," said the Prime Minister** few days ago, "New Zealand would'Siwe become a. German colony." What.-.thai would mean, following - this war, isumbhinkaible.

War. is a very costly and Britain is not fighting a cheap war.-'This is the costliest conflict that any'nation lias ever entered into. Bat money is"aa essential to success as men. To obtain it those in authority have three courses open to them: —Taxation, loan, and ..enforced contribution. The combined' firat and second methods are to be prefenred at all costs; but the third, we have-been plainly warned, will be resorted to if necessary. Taxation touches the pocket of the present; so do loans, but with loans part of the burden is reserved for posterity to carry. Already £11,000,000 has been raised in New Zealand by way of war loan. Much of this is spent in the country; much of it is used to feed, clothe, and pay the men who are fighting for us. But the war is. costing us nearly £2,000,000 a month now, and the £11,000,000 Teferred to is about exhausted. Now the Government asks for •£21,000,000, and of that it goes direct to the people for £12,000,000, and it wants it now.

The war has cost this country, in money alone £28,500,000, and may yeit reach £50,000,000— staggering figures for SO young and small a country ; more than, half what (the public debt was before the war (1914), and, together with that, running to a possible public indebtedness of £150 per head. True, the interest bill on these war loans will be enormous, but the money will not all go out»of*the country. The war'is the concern of every-man, woman, and child in New Zealand.

The men who have gone and are going are doing their part, in all conscience. Those who remain, especially the wealthy, must do theirs. It was"a sad confession that Sir-Joseph Ward made when he said: "There-are many- persons of means and also com.panics who have subscribed very little, and in some cases toothing at all, to*the last loan." This second war-loan affords opportunity for atonement. Such people were .not asked -toegive nor did the Government propose-to take their money. On the contrary, they were asked to LEND it, and, considering the rate of interest and the nature of the security, on most advantageous terms. They are again approached' on business, if on no other and' 'higher grounds, to take part in the second's warloan.

Business and financial men needajojen.lightenment' upon tho needs, the- terms, and conditions of the now loam?, but people of quite limited means may-snot be so woll informed upon it. In! the form of simple answers to simgle»>questions an attempt is .here made^tor-.en-lighten them. . . . Does the Government really rneedgany ■little savings ?—Yes j every * spare>S>BMling. i For how long does >■ it want -then*? — If you invest in war certificates fitom .£1 to £10 each, for five or tetttyears, 'as you elect. It will return yon inj. five years-381 for every 16s you put down. Do I put £1 or £5, or wfaatev-aEpit may be, down? —No 1; you pay I6S'dbwit for every £1 invested, up to £500;, you pay £8 now and in five years receive £10. If you invest for ten years -you put down 13s now for every £1,-or«£6 10s for £10.

1 Supposing I take £100 out andpbny a war bond?— Then you will receivers per cent, interest, paid half-yearly—pro-viding your income is of euch amount that it is exempt from income tax. Where can I get the certificates and more information about them?—At any Money Order Office. They will all <ba open on Friday and Saturday from 7 p.m. till 8.30 p.m. from to-morrow until Saturday, Ist September, for this kind of business.

These bonds and certificates are most valuable?—As much as bank.notes.

Well, suppose they are stolen, or lost, or burned?— The Government has made provision for safeguarding them. ,It will take care of them for you free of) charge. But I want to provide for the>trifo and children.—Certainly; and you can do it in this way if you have a. fairly Ja-rge amount'; but you can pay down m the Post Office £38 for a £50 certificai» and receive, or they- can receive, £50 back in five years' time.

Supposing I can't afford to tie my money up?— You need not. The stock, bonds, and certificates will always be of good value. You can offer them as Escurity. In England all you have to do is take your war certificates to the Post Office and sell them there. In Australia you can sail them to the Government again and receive back what you paid in, with simple interest at the rate of 3 per cent, per annum. You are getting 3| in the Post Office Savings Bank to-day, if you have under £300 there; you receive 4j per cent, on the certificates.

And supposing I cannot subscribe-to the loan now?— Well, facilities' have been granted by .employers to workpeople to do this at Home, in Australia, and, to some etxent, in New Zealand. Something like the time-payment system. The bunks at Home meet the case of large investors by advancing say £900 on every £1000 of stock taken, up, charging not less than 5 per cent, interest. This enables a man to anticipate his probable savings. Similar arrangements have been made by the New Zealand banks in connection with this second war loan.

One would have to be economical to do that?— Precisely. That is a kind of by-product idea, but it is a sound one at the present time. How'can women help in this?— The same as men, if they aro single, and, very much indeed if they are married by backing up their husbands in taking, up the loan according to their means. The money is wanted; not "for keeps," but as a lean —a safe loan, a sound loan, a just loan, and, it is-to be hoped, a victorious loan.