BRITISH WAR LOAN
ENCOURAGING STATEMENT' BY CHANCELLOR OF EXCHEQUER.' (Ree. July 14, 12.45 p.m.) LONDON, July 13. Mir McOKenmia, Chancellor of the "Exchequer, ini the Bouse of Comimonis, protested' agadinst the exaggerated estimates of the war loam appearing in some newspapers. The Goveirriiment 'did not expect, '-amid, did not desire, .subscriptions of £700,000,000. If there had: heen) a. likblihood of £-800,000,000 it wouldl have ■dosed! the list as am unnecessary disturb.a<nbe. of business:. There are 550,000 subscribers through the Bank of England, ■totalling £5'Z0.000,000, apart from 547,000 subscribers ini 'the Post Office, totaflJkmg £15,000,000, and' apart from vouchers' sold. He could -not speak without emotion of the efforts madia by every class to scrape together their resources-. They must rememibeai that the markets were practicallv closed' for itih-e sale of all. securities, amid thousands would have beeini wiEiti'g- to sell securities, hut there were no buyers. The result of the "loan, was a de'claratiom to the enemy and Allies that the United Kingdom., was fantlM ui to its trust. (Rec. Jiuly 14, 10.55 a.m.) LONDON, July 13. - Mb R. McKemmai, .Chancellor of the ! Exchequer, states itihab £570,000,000 has .been) subscribed) to the war loan, apart, from/ .converted' stock r
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https://paperspast.natlib.govt.nz/newspapers/NEM19150714.2.21.4.9
Bibliographic details
Nelson Evening Mail, Volume XLVIII, Issue XLVIII, 14 July 1915, Page 5
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199BRITISH WAR LOAN Nelson Evening Mail, Volume XLVIII, Issue XLVIII, 14 July 1915, Page 5
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