PUBLIC MEETINGS.

Lyttelton Times, Volume CXVII, Issue 17251, 19 August 1916, Page 9

PUBLIC MEETINGS.

WHY THE LOAN .SHOULD BE SUPPORTED. appeals BY PROMINENT CITI- . ZENS. ' . About forty citizens attended at the City Council's Chamber last evening in response to the Mayor’s invitation to . meet and publicly discuss the loan. In opening the meeting Mr Holland said that it had! been his intention to call the meeting on Monday evening, in vieiv of the fact that people’s minds m Christchurch just now were bent on, pleasure. He received a telegram from Sir Joseph. AVard, however, saying that the time for receiving applications could not be extended. It was desirable to meet and discuss the different aspects of the scheme. It was gratifying to know that New Zealand s Reinforcements had gono forth fully manned but both men and money wore essential to victory. The banking returns made up to March 31 last showed that 1 here were £19,000,000 in the hanks of the Dominion not earning interest. One would imagine that there would he no difficulty in obtaining £8,000,000 of that sum for war purposes. ' Still, human nature was human nature, and there were some people who wore not very patriotic when it came to putting their hands in their pockets, and the appeal, ior support of the loan was not made from the purely national point of view. He felt utterly' ashamed when lie remembered .that New Zealand was taking money from the Old Country during these prosperous times. . He believed ;hat the £8,000,000 could be raised without the people feeling the pinch. If they did feel the pinch, perhaps, it was ■ K' much the better. He had often appealed to men and women to give and give again. On this occasion he asked . them merely to lend. He congrntulated tho Tramway Board on the- liberal sohemo it had submitted to its employees. He was confident that . tiie City Council would follow the same K’ cy in respect to its employees. Ho the authority of the Chief Postmaster for saying that the post office would take charge of-the bonds on behalf of investors and’ keep them safely. The City Council would* do the same, offering tho use of its strong-room to those who felt that there was daftger of losing the feeuments. 110 moved : That this meeting of c itizens of • Christchurch desires to impress upon the people as a whole tho imperative neepssity for supporting ' the AVnr Loan by investing therein to the utmost of their ability, as air ample . »upply of money is as essential to victory as is a constant stream of soldiers to reinforco our boys at the front.” The Hon H. F. Wigrani, M.L.C.,

seconded tho motion. He said that NewZealand had an exportable surplus ot food and clothing, both of which were of tho greatest valuo to the Allies. Ho was pleased at the Government’s action in raising a local war loan, especially as tho small men were asked to contribute. Ho would place more value in some respects on the small contributions of a few shillings thnn on tho tens of thousands of pounds contributed by financial companies, because the former would show that tho nation as a whole* behoved in the justness of the war. Every person who invested in the loan should remember that his or her savings would he ddvoted to supplying food and clothing to maintain the body and strengthen the am of a soldier in the ternchesi Mr A. W. Beaven said that the purchase of bonds in many cases meant, simply that households would have to go without somo luxury, such as a piano, for a few* years. He did not think that companies should draw much money out of ordinary sources, hut there were some that had accumulated sums on account of reduced stocks, and he was sure that considerable smite could be liberated in that way. -The tone of the meeting should be optimistic. Personally, he believed that the £8,000,000 would be over-subscribed. Australia, with recurring droughts, had over-subscribed all the war loans raised in the Commonwealth. New Zealand, with her continuous prosperity, could do tho same thing. The British had scon all their former great wars through, and would see the present one through. In tho meantime it was necessavy to raise war loans and New Zealand should show Old England that this Dominion was strong, and lusty and would do its part financially as welll as otherwise. Mr G. T. Booth said that the time for discussing whether "the issue of the loan was wise or not had passed. The Government had committed the country to £8,000,000; the country had to get it, and it would get .it. (Applause.) Those who stayed at home had to do their share. The opportunity was supplied by the issuing of the loan. He was confident that all employers were willing to help in any practical way. Mr J. G. Rule, Acting Chief Postmaster, said that the Postal Department had taken up the loan in a thorough manner. Mr J. J. O’Gorman would wait on business people, and would issue bonds to employers. Tho Government was framing regulations to keep bonds in safe custody iti the Post Office for those who purchased them. Mr O’Gorman would wait on any ern'ployer who asked the Post Office for his services, and would explain the best-scheme- under which employees could enter into the scheme. He believed that the time for receiving applications would bo extended for about two weeks.

,Dr C. Chilton said that there were two enemies more to he feared than the Germans, namely ignorance and indifference, and both still made their presence felt in the community. It Was only ignorance of the state of affairs in France that led to the indifference. If it was not for the indifference, that chamber would he too small to hold all who wished to attend tho meeting. Anybody who had money to spare should give it freely and voluntarily to the State, even if there was no chance of getting it back again. But the loan was a loan, not a gift- It was a: thoroughly good investment, and it should be fully subscribed over and over again. He did not see that many people in this community were making great sacrifices. They "still had their pictures and their golf and other amusements, and there was much money that could be placed in the loan.

Mr O. T. J. Alpers said that the valuo of the loan was the fact that it enabled many 'people to line up os helpers in the . Every man who placed £1 in the loan joined the ranks of those who were taking part in the war. The smaller the average investor the greater would be tho moral effect of the loan. The . Rev S. Lawry said that the principle of issuing the loan appealed to him. Ho would like to feel that he had somo financial stake in the struggle,, no matter how small it might he. Tho motion was earned unanimously. Mr J. R. Hayward, president of the Canterbury Employers’ Association, said that New Zealand was proud of the hoys at the, front, and he was confident that those left behind would do their .part also It was regrettable that there was not a-larger attendance at the meeting, hut tho citizens, undoubtedly, were warmly in favour of the loan. Ho moved : “ That this meeting strongly recommends the scheme put forward by the postal authorities to the favourable consideration' of the employers of this city.” Mr O. H. Hewlett seconded the motion.

Mr/J. J. Dougall said that it was very desirable to give all possible information to people who had only small sums, to invest. It had been stated that people with small or moderate! means had not done much towards winning tho war, except, in sending their, sons to fight. Here was an opportunity for those people to do something more. Mr ,T. A. Frostick said that it would be a good idea for Mr O’Gorman to arrange for meetings of employers with their employees, and for some citizens to attend and explain the position. A small number of citizens might form themselves into a Visiting Committee and help in that way.

Mr H. ,D. Acland said that the interest on the loan would remain in New Zealand, and New Zealand, to the extent of the loan, would cease to bo n, financial parasite on the Mother Country; The loan supplied an excellent opportunity for parents to nut aside nest-eggs for their young children. ' In that wav children could ho taught the advantages of thrift.

Mr Rule said that the certificates, maturing in five years, were not restricted to a total of £SO invested; several thousand pounds could be unvested in those certificates. The motion was carried. In response to an appeal by the Mayor, all present held up their hands to show that they would invest ,iu the loan. . ,

The following committee was appointed to help employers who wished

to enctfurage their employees, to invest: The Mayor, Dr Mickle, Dr Chilton, and Messra G. T. Booth, J. R. Hayward, J, A. Frostick, J. Jamieson, J. JDougall, O. T. J. Alpers and G. Stewart. NEW BRIGHTON. CERTIFICATES FOR THE THRIFTY. INVESTMENT FOR CHILDREN URGED. A small hut very earnest meeting in tho New Brighton Borough Council Chamber last night decided in very dofinite terms to recommend the loan to tho burgesses. , , x , The Mayor (Mr J. A. Flesher), who presided, said that the meeting hab been held late because, ho had only received tho Ministerial telegram late on the previous day. As there was no indication that tho time for receiving applications would bo extended beyond Monday next he had called the meeting a.t once. The time was not one t~, criticise the action of the Government in any action it might take The loan of £8,000,000 represented £8 per head of population, and it remained to bo seen whether it would be fully subscribed, but he could only say that it was a straigbtout investment, absolutely'safe, .'involving no sacrifice or loss. Every penny of interest would be distributed in the Dominion, and would bo available for tho development of tho country in yeiarß to come In sixteen years a man would get tne whole amount of his original investment back, leaving the capital intact. Mr Flesher likened the War Loan certificates to hank notes payable to bearer in five years, plus accruedinterest, and they would be negotiable lik- a bank note. Any parents who felt inclined to make provision for their children five years ahead couM not do better than invest m the certificates, and in such a. .case the taco that the money was more or l® sß Jocke P would he an incentive to thrift. Bu above all participation in the v\ar in not of patriotism lAid. would have its offset on the campaigns. He moved: “This meeting urges all residents within tho borough who aro able s to do to avail themselves of the opportunity afforded of assisting to carry out a policy of self-reliance by subscribing as liberal y _ as possible to the W:il* Loan now being raised n the Dominion. By so doing investors will not on y d.splay their patriotism,, but will also .secure* safe and remunerative investment snch as has never been equalled in NeW Zealand.”

“It is not everybody who is so circumstanced as to be able to a PPN ® this loan,” said Mr Flesher, but get at the people who can do so ana won’t there will probaly be some other means found, and they will have to be compelled, like the shirker,, and it may be much heavier taxation. Mr W. H. Bellamy, in seconding the motion, said that the loan should appeal alike to the old man of means and the young thrifty man who was unable to go to tho front. It was do-, plorable to see' tlio men going m their thousands to the racecourses to make the very worst investments ot their lives. It was impossible to provide pensions for the soldiers if the public staked its money on the totalisator. ]\fr J. W. Bissett suggested that as the love of a parent was manifested through tho children, it might be wise to make the certificates known through the school children, who might induce their parents to invest on their behalf. • , Tlio Mayor replied that the .loan closed on Mondfty. Mr J. Ashley said that he had been astonished to learn that the loan closed on Monday, since he had written to his sons at the front suggesting that what little they had lefVwfth him and Mrs Ashley might he invested in the "IVar Loan. He had sent the letters on, in the hopo that the certificates might still be obtainable. Mr Kibblewhito urged a meeting of young men to popularise tbc certificates. In reply to Mr R. T. Lees, who said that certificates should be issued without a time limit, as was done in England, the Mayor said that the next Cabinet meeting would probably consider the point. , In reply to another question Mr Flesher said that for every certificate of £1 the sum of 16s had to be puti down, but men witbont _ the ready money might induce their employers to mate an" advance, repayable by small instalments. This was being done m many cases. • The motion was carried TO-NIGHT’S MEETINGS. Public meetings in connection with the War Loan will be lffild this evening as follow: Spreydon—Borough Council Chambers, -8 o’clock. Lyttelton—Borough Council * Chambers, 8 o’clock. Kaiapoi—Band Rotunda, 8 o’clock. [Pkr Press Association.] OAMARU, . August • 18. A public meeting wa.s held to-night in support of the War Loan and was addressed by the Mayor (Mr W. H. Frith), Mr Robert Mulligan (chairman of the Harbour Board) and Mr F. Milner ('Rector of the Waitaki Boys’ High " There was a keen demand locally for war certificates. Tho Oamaru Hospital trustees decided to invest £IOOO and the Waitaki Acclimatisation Society £3OO. NAPIER, August 18. A public meeting was held in the Municipal Theatre to-night in connection with War Loan certificates. Speeches were made by prominent citizens and the* sum of £6OO was subscribed afterwards. Arrangements have been made for the sale of certificates in the streets.