THE BRITISH LOAN

Hawera & Normanby Star, Volume LXIX, Issue LXIX, 1 July 1915, Page 5

THE BRITISH LOAN

ITS SUCCESS SECURE

THE PREMIER'S PLEA FOR ECONOMY. 4 LONDON, June *29. ?4r Asquith, at a crowded meeting j of city men at the Guildhall, had an; enthusiastic reception. He said the success of the loan as a financial in-

stmment was absolutely secure. A hundred years ago our ancestors had spent eight hundred millions in vindicating the freedom of Europe; we were likely to spend three millions daily for months to come in the same cause, while the daily revenue from taxation was three-quarters of a million; hence the urgent necessity of a loan. This was the first great democratic loan. The State was appealing to those- whose resources were most limited' to contribute their share in meeting the supreme national need. The meeting was also called to initiate a national movement in favor of economy. Waste on the part of either individuals or classes, which was always foolish and shortsighted, was nothing short of a national danger in the Bresent time.