WAR LOAN SCHEME.

Greymouth Evening Star, 1 February 1916, Page 5

WAR LOAN SCHEME.

HOW THE WORKING GLASS GAM HELP . # : .:

FORCED LOANS NOT-ADVO-

CATED.

DRASTIC TAXATION SUGGESTED.

[PES PBESS ASSOCIATION—COPTKIGHT-]

LONDON, January 31. The Committee's report on the war loan scheme for workers'provides that every deposit of 15s 6d or an accumulation of savings reaching that sum entitles the subscribers to receive £1 at the end of five years, or a pro rata amount for a lesser period. The Committee reported against increasing the rate of interest on Savings Bank deposits, and against forced loans by deductions from incomes. It recommends the organisation on an extensive scale of voluntary saving associations and • the adoption of some instrument of a scheme facilitating the lodgment of small amounts until they reach 15s Cd, either through the .Savings Banks or by cards with spaces for sixpenny stamps.

The War Loan Committee also suggest' drastic taxation as calculated to curtail unnecessary expenditure and also that a greater proportion of the cost of the.war should be raised by additional taxation, particularly- of the wealthier community. They recommend the War Savings Association to devise schemes to encourage thrift, but do not recommend lottery bonds, fearing the objection of a large section on the ground that an clement of chalice is involved.