FINANCIAL VOLUNTEERS

New Zealand Herald, Volume LXXVII, Issue 23602, 11 March 1940, Page 6

FINANCIAL VOLUNTEERS

New Zealanders have in the past proved their public spirit and practical patriotism, a fact inspiring confidence that the appeal made by the Minister of Finance last night for more financial volunteers will not go unheard. Mr. Nash began by demonstrating the need for service and sacrifice. He proceeded to lay the problem before the country. War expenses to March 31, the end of the financial year, were stated at £7,350,000. Against this sum Mr. Nash showed receipts from special taxes at £2,400,000, from unexpended balances of ordinary defence votes at £2,290,000, and from gifts and interest-free loans at £1,048,000. Thus £1,610,000 is required to square the War Expenses Account at the close of the year three weeks hence. Mr. Nash expressed the hope that this deficit would be covered by further gifts and interest-free loans before the expiry of the period. To judge by the voluntary assistance already given to the Treasury, the objective can be reached—and it should be reached. Next financial year, beginning on April 1, Mr. Nash roughly estimates war expenditure at £33,000,000, 'the British Government finding £20,000,000 by loan for overseas purposes, leaving £13,000,000 to be raised internally, or over £1,000,000 a month. However the money is found—Mr. Nash spoke of taxes, borrowing and State economies—a heavy strain will be placed on the national economy. Sacrifices will be required of everyone, but all should accept them with cheerful resolution as part of ( the debt owed to the young men serving in the forces. Mr. Nash especially calls on those with the means, large or small, to volunteer the use of their savings free of interest for the same reasons and the same ends as others are risking their lives. There need be no question that his call will be heard and it will evoke the stronger response as the people see that the Government itself is equally bent on saving for the paramount business by eliminating waste, stopping spending on non-essentials, and diverting labour and resources to productive ends. State must co-oper-ate with citizen to obtain that maximum result which is imperative.