WAR LOAN CAMPAIGN

Grey River Argus, 11 August 1944, Page 7

WAR LOAN CAMPAIGN

MR C. 0. COAD’S ADDRESS

Meeting at Greymouth

Flans for the Westland campaign in connection with the £4O million Victory loan were made last evening when Mr. C. O. Coad, a member of the National War Loan Committee addressed a meeting in the Greymouth Borough Council Chambers. There was a good attendance, the outside districts, of Hokitika, Kumara, Runanga, and Reefton, being particularly well represented. The Mayor (Mr. F. A. Kitchingham) presided and introduced Mr. Coad. We were ten thousand miles behind the fighting line, he said, and it was our duty to raise the money to keep the men going. He expressed appreciation of the large attenaance from outside areas. Mr. Coad emphasised. the importance of the work of district committees and said that this year the man in the street, who was not normally regarded as an investor, should get behind the loan. The war cost New Zealand more than £290 a minute —nearly £3,000.000 a week, and up to March 31 last, New Zealand had spent about £383 millions on war. In financing the war an attempt had been made to find 50 per cent, out of taxation and to spread the rest over the future to some extent by borrowing. This year’s loan was for the stupendous sum of £40,000,000. Last year £29,000,000 had been subscribed to the Liberty Loan, mostly by large investors and from wage and salary earners £10.000,000 had been raised through National Savings. It had to be remembered, said Mr. Coad, that the money lent last year was not available for investment this year—entirely new money was called tor. . , “Government finance in time oi war is different from commercial finance, say, in respect .of a factory,’ Mr. Coad continued. “In a factory the goods manufactured and sold are paid for and the factory gets back its money l with profit added. It can go on turning out more goods. When the Government turns out war goods to blast the enemy it doesn’t receive a cash return. But the money that the Government pays out for munition making finds its way into the people’s sockets. savings—banks, and trading banks.” It was there today and the Government wanted some of it back. Mr. Coad described the work that had been done in Wellington in con-1 nection with the loan campaign and told how the district objectives had been set. The population basis adopted last year had not been entirely satisfactory and this year it had been decided to base each district’s objective on the mean of its last vear’fs quota and the amjount that it had actually raised last year. This system had some relation to the estimated wealth of each district. Westland district’s quota last year had been £465,000, and the amount actually raised had been £364,000. This year’s quota, had the loan been of £35 million, would have been £414,000, but this year the amount of the loan 1 had been raised to £4O million—• a 14 per cent, increase. However the ■cbjectives had been raised by only 10 per cent, and Westland’s this year would be £456,000.

The need for everyone to speak favourably of the loan was emphasised by the speaker. The soldier did not raise side issues. People would talk about waste. ‘‘There is waste,” said Mr. Coad. “The whole of war is waste, murderous waste. Waste of money and material and precious lives.” Waste was part of war and could not be separated from it, but that was no reason for not pushing the war as hard as possible to a successful conclusion. Organisation was necessary in the campaign, and the district committees should'have sub-committees to deal with various special aspects of the campaign. We should create a wave of enthusiasm for the loan. People should be told that the men overseas were making their sacrifice, and we could not call our part in lending a sacrifice. It was better to knock out an opponent in the sixth round than to wait for .the twentieth. “There is not a man or woman in this province who doesn’t want victory,” said Mr. Coad, “wouldn’t do ail he could to achieve victory, doesn’t want to share in victory, or who really believes victory, can be achieved without money. It is up to us, then, to find the money.”

Mr. A. H. Lawn, a Hokitika delegate to the Dominion Conference, said that the conference had been a most inspiring one. Mr. Nash had given a definite assurance that when the various loans fall due the money would be repaid. He expressed, confidence that Westland would attain its quota. ■ Mr. J. Saunders, a Greymouth delegate to the conference, said that all had a duty to subscribe to the loan. If people realised what their fate might have been if the Japanese had come to the country the loan would be subscribed in a few days. . Mr. M. R. Aldridge, Chief Postmaster at Greymouth, said he ha'd gone to the Wellington conference with something of a feeling of hopelessness, but now that he knew the money was available in the country he was confident that the loan could be raised. DISTRICT OBJECTIVES. Mr. L. E. Smith. Secretary to the local committee, detailed the district objectives throughout Westland as follows: — Reefton: £30,000; Ika'matua (Mawheraiti. Hukarere) £8,000; Waiuta, (Alexander River, Blackwater), £B,000- Greymouth: (Camerons, Karoro, Marsden. Paroa), £186,000; Barrytown (Greigs, Punakaiki) £5,000; Runanga (Rewanui), £28,000; Brunperton, (Stillwaler, Kamaka) £12,000; Blackball, (Atarau, Ngahere, Nelson Creek) £16,000; Moana, (Kokin, Kotuku, Ruru, Te Kinga, Inchbonnie, Poerua Rotomanu) £9,000; Otira (Aicken, Jackson’s) £2,000; Ahaura, (Totara Flat) £10,000; Kumara; (Goldborough, Hohonu, Kumara Railway, Stafford, Wainihimhi) £7,000; Hokitika, (Kanieri, ' Koiterangi, Lamplough, Lower Kokatahi, Rimu, Ruatapu, Tainui) £91,000; Ross, (Ferguson’s, Fukekura, Waitaha) £11,000; Harihari (Evan’s Creek) £7,000; Wataroa (Te Taho) £5,000; Franz Josef Glacier (Okarito, Tatare, The Forks) £5,000; Fox Flacier (Karangarua, Bruce Bay, Jacob’s River, Mahitahi) £8,000; Jackson Bay (Haast, Okuru) £B,OOO. The Mayor said he was sure that Greymouth would fulfill its quota of £186,000, and representatives from the various outside districts expressed confidence that their quota also would be achieved. Mr. A. H. Lawn; was appointed convenor for the country committee, members of which were appointed as follows:— Reefton, Mr. A. F. Wells; Runanga, Mr. E. W. Kennedy; Kumara, Mr. W. H. G. Stewart; Greymouth, Messrs J. E. Laing, J. B. Kent, and J. Saunders. Representatives from other districts are still to be appointed. The Mayor said that each district representative was expected to act as chairman to a local committee which would need to be set up in every centre of population. The proposal to appoint a paid

organiser was discussed, ointons both for and against being expressed, and the matter was left in the hands ol the district committee. In reply, to a question from a Kumara delegate, Mr. Coad gave> an assurance that everything was being done this year to see that money invested from any district was credited to that district. . Mr. Coad was accorded a vote ot thanks on the motion of Mr. F. h. Boustridge, and the Mayor was also thanked for. presiding. The meeting ended with the sing ing of the National Anthem. WOMEN’S MEETING., Tn the afternoon, Mr. Coao addressed a meeting of 64 women representing all women’s organisations m the district and on the West Coast. The X'Q <»s. F h A ', Ki,chln 8hnml nresided. Mr. Coad spoke of the ne?d for the Victory Loan, the amount of monev available for the k?n -nd told how women could assteHn obtaining that money.