VICTORY LOAN

Evening Post, Volume CXXXVIII, Issue 60, 8 September 1944, Page 6

VICTORY LOAN

26 DAYS TO GO

OBJECTIVE LONG WAY OFF Investors must almost double the daily average of their investments in the Victory Loan over the next 26 days■ if the Dominion is to reach its objective of £40,000,000. The grand total now stands at £8,841,579, and the total for the Wellington district, £888,060, is only 19 per cent, of the city's objective. Yesterday's investments in Wellington placed her in ninth place for the Dominion, with Southland and Auckland leading the field with 47 and 43 per cent, respectively.. . ' -.- . ■. A total of £650,974 was subscribed in the whole of New Zealand yesterday, beating the combined - total for ' the preceding two days by £41.028. j In two capacities the Hon. D. G. Sullivan discussed the Victory Loan ia an address last night. First as Minister of Supply and Munitions he was able to give some interesting facts about the use of war loan investments, and then as Minister in Charge of Stabilisation he urged full support of; the Victory Loan by everyone so that the threat of inflation will continue to be kept away; from New Zealand's economic life. , This being Nayy Week in the loan campaign "the Minister said that just as our sailors had faced dangers and hardships year after; year, those at home must do their part, making any sacrifice which would hasten victory ] and at the same time ensure stable economic conditions for sailors and other servicemen on their return to civil life. Some of the money subscribed to previous war, loans and s£nie which would become available through the Victory Loan would help to pay for the fine minesweepers and other naval vessels and barges which had been constructed in New Zealand for our own Navy and that of our Allies—hundreds of vessels *all well and truly built by skilled artisans to stand up to the rigorous service for which they were urgently needed. "Our munitions manufacture," he continued, "will amount to a value of many, millions of pounds during the coming "year, as they have in the past years, and so will our. production of all'kinds'of necessary supplies for our own fighting men and those of our Allies. These munitions and' supplies can only be paid for by the efforts of the people on the home front. We can pay for them only by taxation or by raising loans. Though taxation has necessarily been at a high level throughout war years, incomes, too, have also been at a high level, and there are great. financial resources in the community still available for helping to finance the war through the Victory Loan." .' ECONOMIC STABILITY. , One of the important objectives of the loan was to achieve economic stability after victory had been achieved, added Mr. Sullivan. "No< greater civil danger threatens a ivarring nation, and no peril is so likely to disillusion our hopes of a happy peace,., than a post-war inflationary boom. It would destroy many of our plans for the future' and rob our seryicemen and all of us of our economic and social security, perhaps for a long period. It; is to help prevent such a catastrophe that the stabilisation policy of the Government is being pursued with the utmost determination. Every pound you invest in the Victory Loan helps to keep down the cost of living. It helps in the fight against inflation. It helps to provide economic security for our fighting men when they return." * . . WORKERS' RESPONSE. Flying Officer F. D. O'Flynn, who is organising the trade union. effort, said today that the response from the groups of workers in factories already visited had been most encouraging. The promises given by the Labourers' Union yesterday to invest £1000 had already been fulfilled. "The workers in factories and workshops are setting themselves objectives to reach before the closing of the loan," he said. "These workers are straining every possibility to achieve their respective objectives, and to measure up as well as they can with the efforts made by our troops. : "To give an illustration of the efforts being made, we visited the firm of Samuels and Kelly this morning. This firm has a staff of 70 employees, comprising mostly women ?'and girls, and they set themselves an objective of £300. A. member of the staff will check the advance week by week and mark the attainments oh a barometer which is displayed prominently in the staff room.'1 Winding up "Salute the Sailor" Week, victory rallies were held at Victory Corner and Unity Corner today. At Victory Corner from 12.30 onwards a mock court was held, at whiCh wellknown members of the community were charged and fined, the fines be-! ing turned into Victory Bonds. Mr.| A. J. Mazengarb acted as the judge. I jAt Unity Corner the public were given a further opportunity of seeing I the Kiwi Concert Party from the Pacific in action. ~ The party has been brought from Auckland specially to boost the Victory Loan. 'Tomorrow, at Unity Corner, a special children's victory rally has been 'arranged for 10 a.m. The Makara County Council decided at its meeting today to invest £1000 in the loan. The council has also £1000 of bonds in a previous loan. The Khandallah Bowling Club has decided to invest- £100 in the loan.