QUICK RESPONSE

Gisborne Herald, Volume LXVII, Issue 20259, 29 May 1940, Page 7

QUICK RESPONSE

FINANCE FOR WAR AUSTRALIAN APPEAL BIG SUMS PROMISED RALLY IN SYDNEY RECRUITING SCHEME (Elec. Tel. Copyright—United Press Assn.) (Reed. May 29, 9 a.m.) SYDNEY, May 28. Following a meeting of the Loan Council at Canberra to-day the Federal Treasurer, Mr. P. C. Spender, announced that the Government was issuing an interest-free loan of £5,000,000. Subscriptions would be invited from people who desired to assist the war effort to the extent of forgoing interest normally received from war bonds. Mr. Spender also announced a £20,000,000 war loan, the terms of which were short-term subscription with a currency of five years at 2j per cent. A longer-term subscription from 10 to 16 years would carry interest at 3,V. per cent. The loan would be issued at par and be subject to Cull Federal tax. Tremendous enthusiasm and patriotic fervour were demonstrated in the Sydney Town Hall at a “Win-the War rally to-night. At least 3000 people were inside and the same number were unable to gain admission. Occasion was taken to launch an appeal for the new loans announced at Canberra and the Response was most gratifying. Huge sums were promised. **■ No Limit to Recruiting The Prime Minister, Mr R. G. Menzies, was the chief speaker. He declared that the Government was setting no limit on the number of recruits it would seek while the limit of armaments and war materials Australia would produce would be governed only by the things needed in connection with their manufacture which had to be brought from outside Australia was also going to see tha no profits were made from this war. Speaking in Melbourne the directorgeneral of recruiting, Brigadier-Gen-eral Lloyd said to-day that the Australian Government was now enlisting a stream of men without limit in three categories. Firstly, 50,000 men were being recruited for the Seventh Division and corps troops for training in thei exis - ing camp accommodation. Secondly, further recruits would be drafted to new camps as they were provided Lm racecourses, showgrounds and other centres. Thirdly, men who could be accommodated in camps would be DU leted in their own homes, tor which they would be paid and ordered to report daily to local drill halls to the same hours as the encamped men