Greymouth Evening Star. SATURDAY, MAY 12, 1945. ANOTHER LITTLE LOAN!

Greymouth Evening Star, 12 May 1945, Page 4

Greymouth Evening Star. SATURDAY, MAY 12, 1945. ANOTHER LITTLE LOAN!

VOLUNTARY loans to pay for victory are preferable to enemy seizure of all property to meet the price of defeat. This platitude should be remembered by any who are reluctant to invest in the Victory Loan of £25 millions, the official opening campaign of which will begin next week. The time for such loan appeal is propitious, seeing the defeat of Germany is now complete, and Japan is faced with similar doom. There is no doubt of the money being available in New Zealand and little doubt that the loan will be fully subscribed, provided too many do not take such success for granted, and leave to others what they should do themselves. These war loans grow less in totals each issue, and a day will come when they will cease from troubling altogether, but that period is not yet. In these times of cheap money, the Victory Loan ranks as a good investment, and is even better than it seems because the alternative to lending is to pay taxation, the return from which would be of the ‘‘Kathleen Mavourneen variety. It. is easy to find excuses lor not contributing to these patriotic loans, if such aloofness is desired. A favourite reason given this time by more or less honest doubters, has been a suspicion that the proceeds of this latest loan would be used to buy out the shareholders in the Bank of New Zealand. Mr. Nash has given an assurance to the contrary, and his word must he accepted. There is nothing of Party politics in the Victory Loan, which is being supported and recommended by members of Government and Opposition, as well as those of no special Party-mem-bership.

The Minister of Finance has the right to ask the nation to over-subscribe the Victory Loan. The people in turn, have the right to demand that Victory economy should be exercised in administration, especially in connection with war-expen-diture. There should be no delay in drastically cutting down expenses of this nation, particularly by demobilisation of apparently unwanted thousands in camps in the Dominion and elsewhere. There is no question that the war has been a financial blessing to many in the home services, high pay, allowances and freedom from the taxation others have to pay, putting home servicemen in too favourable a position. Demobilisation should be quickly effected to the utmost degree, and (here should be similar Ministerial enthusiasm for this retrenchment as there is where Victory Loan subscriptions are concerned. Every £lOO saved in expenditure on the war effort is equal to £lOO investment in a Victory Loan, and more than equal because there are no interest charges and repayment to be made on administrative economies. Pleas of all types Will be made during the coming Victory Loan campaign, but nothing else would more appeal to potential, investors than clear evidence that the old-fashioned proverb, a pound saved is a pound gained, was the fundamental guiding factor in Ministerial policy.