N.Z. VICTORY LOAN

Greymouth Evening Star, 11 May 1945, Page 8

N.Z. VICTORY LOAN

MR. NASH’S APPEAL.

WELLINGTON, May 10. Mr. Nash, Acting-Prime Minister and Minister of Finance, announced to-night the hope of the Government and of the War Loan Committees that on Monday next, when the 1945 Victory Loan campaign opens, fully half of the required £25,000,000 will have been subscribed. He declared: “This is no time to be placid. The war is far from won. The spirit of New Zealand during five and a half years of war has been irreproachable, but there are dangers today which we have to recognise. v\e have exerted ourselves fully both in lighting and working to assist in bringing the war to its present stage, but who are we to say it is time to relax? Our first duty is to press on until the defeat of Japan. We are not alone in this, but New Zealand has special obligations. “The Japanese actually threatened our shores,” continued Mr. Nash. “We were spared the horrors of a Japanese invasion because the Americans at Coral Sea and Midway, particularly Midway, and the Australians in New Guinea checked the tide of Japanese aggression. The Americans and the Australians are to-day fighting battles as fierce as any that have already taken place to roil the Jananese back further. Out of gratitude, and for our own honour. we have no alternative but to continue to fight with our comrades. The people of Britain also have sent their forces many thousands of miles from their homes to assist in ridding the Pacific of the menace which threatened us directly.” New Zealand was reminded by the Minister of Rehabilitation that plans were already swinging into operation. These would continue to be developed more and more as thousands of servicemen returned home. Thus two major obligations faced us, and we had to find the money, not only on this account, but also to pay for the victory that had already been won. The cost of the war to New Zealand up to March 31 last had been over £500,000,000. The rate of spending in the last year was estimated at about £153,000,000. “But,” added Mr. Nash, “this expenditure docs not stop because Germany has been defeated. A great many bills have yet to be paid. After the last war tlie greatest expenditure of any year was incurred at the end of the war and in the year following. Similarly, the expenditure anticipated this year will be exceedingly heavy, although it has been possible to reduce the amount of the war loan this year to £25,000,000.”

The Minister has received a number of telegrams from chairman of district loan committees regarding the prospects of raising one half of theii - district quota before the loan formally opens. Otago has reported £200,000 in sight, and its neighbour telegraphed: “Southland will be there. Half a million in sight on oreliminmy skirmishing.” Taranaki has reported prospects are excellent, with over £150,000 in sight, while the Waikato-King Country district considers that a quarter of a million is in sight. A message from Westland states: “There is £BO,OOO in sight. A message from Westland sight The good old Coast will do its best.” The Hawke’s Bay message was: “Prospects are very‘bright. The will to win is vlith us.” South Canterbury, in reporting prospects good, added: “The machinery is supercharged.”