LIBERTY LOAN

Otago Daily Times, Issue 25279, 16 July 1943, Page 2

LIBERTY LOAN

SURPLUS OF £4,276,740 GOVERNMENT’S APPRECIATION (P.A.) WELLINGTON, July 15. "The Third Liberty Loan was truly a people’s loan,” said the Prime Minister (Mr P. Fraser) when he made a final statement to-night on the results and conveyed to the people of the Dominion the Government’s warm thanks and congratulations on over-subscrib-ing the loan by £4,276,740, which brought the total to £39,276,740. Mr Fraser said that ’still more significant of the people’s backing of their country’s war finance was the number of subscribers, the total of 431,839 comparing with the previous highest record of 30,000 subscribers to a New 'Zealand war loan. Liberty Loan stock was bought by 63,501 investors of £29.826,600, bonds were bought by 193,338 for £2,134,277, and 175,000 national savings depositors lent £7,315.863. Nelson on Top Mr Fraser gave the amounts raised in the 18 chief postal districts, together with the of the loan objective reached, as follows: — Total. £ p.c. Nelson 670,023 122 Blenheim 324,053 120 Wellington 5,130,802 113 Invercargill 1,489,855 114 Dunedin 2,791,430 112 Auckland 7,210,736 107 Gisborne 509,435 101 New Plymouth .. .. 1,082,204 98 Napier 1,152,939 96 Wanganui 905,910 92 Timaru 715,989 88 Palmerston North .. .. 1,246,090 86 Christchurch 3,423,687 83 Oamaru 249,446 82 Greymouth 364,602 79 Westport 100,923 70 Hamilton .. .. 1,346,088 64 Thames 543,328 63 National Institutions .. 10,011,000 The Prime Minister said that these figures were impressive, but failed adequately to convey the wonderful amount of personal effort which was willingly asserted to achieve those results. He gave details of the national organisation and the 18 district loan committees, with whom were associated some 200 sub-committees. There was also a long list of national organisations which gave valuable assistance. All the women’s organisations did wonderful work, and the women in the services helped In innumerable ways. It was to our women, he said, that the credit was almost entirely due for the sales of bonds. Thanks were also due to the newspapers for willing and generous work and to the armed services who assisted with attractive displays. Seven districts, Mr Fraser said, qualified for the liberty flag by passing their objectives in the following order:—Nelson, Wellington, Blenheim, Invercargill, Dunedin, Auckland, and Gisborne. He pointed out that highly creditable results in achieving ana passing their quotas were shown by “ many centres, the figures of which were submerged in district totals. No district slackened its efforts after passing the objective, and this was being recognised by the National War Loan Committee in awarding a special distinction, the Freyberg flag, to the district which obtained the greatest percentage over its objective. Nelson had not only reached the quota first, but had also won the Freyberg flag. Improved War Situation

The Prime Minister spoke of .the improving war situation. The tide had turned, he said, thanks to the efficiency and valour of the Allied armies, among which the New Zealand Division took such a prominent and distinguished part. " These gallant men," he added, “ are entitled to ask us what we have been doing in these years. -Our record, we can say confidently, will bear their scrutiny. On the farm front, on the industrial front, and in the maintenance and expansion of the armed services New Zealanders have risen fully to all demands. You were asked to provide an unprecedented sum to maintain the fight on an expanded scale. You have responded by subscribing £4,276,740 more than the amount you were asked to subscribe. That is a fine achievement, and proves that New Zealand is more conscious than ever before of the danger still threatening.”