THE WAR LOAN.

Lyttelton Times, Volume CXVII, Issue 17250, 18 August 1916, Page 6

THE WAR LOAN.

Rkputtno to an inquiry from the Mayor of Christchurch tho Finance Minister makes the rather startling announcement that it is intended to closo the War Loan on the date originally fixed and that an extension of tho time for receiving applications is not conform

plated. This ought, to mean that the Minister already has the money in sight, and wo hopo to find that that is the case. But wo are bound to say that tho time allowed has been extraordinarily short. The North Canterbury community has boon spending the week in dissipation, and for that reason —a most inadequate one, of course—there has been little enthusiasm in connection with the loon. Probably tho people have been waiting for a lead from someone in authority, and as it has apparently been nobody’s business to organise enthusiasm very little activity has been shown in that direction. In view of the Finance Minister’s statement, the Mayor has called a publio meeting for this evening, the purpose being to give wider publicity to tho advantages of the loan as an investment and to inspire the community with enthusiasm for tho solfreliant policy. Our own disposition is to discuss tho general question in quite frank terms. IVo believe that New Zealand ought to pay her way in this war, and wo know that she das the money to do so; and if there is any marked disinclination on the part of the people who have the money to lend it to the State we should say that the cry for “conscription of wealth ” will surely be revived. The only imaginable question for the patriotic citizen to ask himself at this moment is not how little he can decently lend, but how great a sacrifice be can endure in order to assist the Allies to victory. Wo greatly regret that tho Government did not begin schooling the public in selfdenial and thrift a couple of years ago. The lesson will have to be learned, and the sooner the better. No one can affect to contemplate with equanimity a continuation of the conditions that render possible tho heavy betting that has characterised the race meetings during tho week; and in the eyes ot every sober-minded citizen the totalisator figures are a’very emphatic evidence of the Government’s failure to bring tho people to a sense of their responsibilities. The. appeal that is being made daily in the Mother Country—- “ Turn your sovereigns into soldiers" —would apparently make small impression on this community. It is true that the Post Office authorities report a brisk demand for loan certificates, but so far we have little evidence oi enthusiasm on the part of institutions and corporations that might be expected to respond liberally to such an appeal. It cannot bo urged that the need of money is not appreciated, or that the loan is unattractive as an investment. What we should like to find is a general movement on the part of firms and institutions in the direction shown by the Tramway Board, which is subscribing to tho loan the money that it has liquid and. is offering to finance any members of its staff who desire to buy certificates. Some minor points, we know, are misunderstood by the public, but these may bo raised at to-night’s meeting. The larger subscribers, of course, are not likely to be in any doubt,’and theintention in calling this meeting is really to commend the loan to those people who have so far failed to appreciate either the urgency of the call for money or the unprecedented opportunity now offered for tho encouragement of thrift.