POPULARISING THE LOAN.

Lyttelton Times, Volume CXVII, Issue 17251, 19 August 1916, Page 8

POPULARISING THE LOAN.

of anything approaching public enthusiasm is never a particularly easy task in-a community such tho somewhat apathetic

reception given to the ! Governments War Loan project at its first announcement was no exception to tho general experience. As tho result of a little organisation, however, considerable prominence has been given to the objects and advantages of tho proposition throughout tho province, and the appeal which has been made may be oxpected to produce commensurate results. It may seem to many people that the activity on behalf of the loan which is now makiug itself apparent is being manifested too late in tho day to achievo its purpose, as applications close on Monday, but as a matter of fact opportunities for investment will not cease at that date. While the applications for debenture stock in bonds of £SO and upwards will close at tho advertised date, the Minister ot Finance has authorised an extension ot time for tho small investors, through tho Post Office, and it has been officially stated that no limit has been placed upon tho amount that may bo invested in loan certificates.- It was suggested by one of tho speakers at a meeting last evening that no time limit should bo placed upon tho issue of certificates, and tho example of the United Kingdom war loan was cited as a precedent. There is a good deal to bo said for tho adoption of tho suggestion, but it must not bo forgotten that it is of tho utmost importance tliat tho money should bo raised quickly. Sir Joseph Ward and his colleagues in tho Cabinet appear to taken the view that the advantages of the investment wore so obvious to the investor that very littlo timo would bo required to bring in all the applications, and tho correctness of that view, so far as the largo investor is concerned, has been borne out, judging by tho decision of the Ministor of Finance to close the issue of bonds of largo denomination at tho time originally specified. The small investor, however appreciative of bis patriotic duty and tho liberality of the terms offered him, is not always in a position to find money in a burry, and moreover is not accustomed to making quick decisions regarding investments of any kindTho decision of some of the leading commercial firms and public bodies in tho province to assist their employees to become investors will doubtlfess result in substantial applications for certificates, and in this case again tho extension which has been granted will enable the schemes of subscription to bo put into operation and W'ill allow timo for tho wider adoption of the principle of assisted -subscription. The •encouragement of thrift may be only a subsidiary object of the War Loan, but it is none the less of great importance, end on this score the prolongation .of the period of investment might weil bo considered by the Government.