NEW WAR LOAN.

Otago Witness, Issue 3335, 13 February 1918, Page 18

NEW WAR LOAN.

STATEMENT BY MINISTER OF FINANCE. IV NO BUDGET IN APRIL SESSION. CHRISTCHURCII, February 9. Sir Joseph Ward stated to-day that the new Avar loan would be placed on the market some time next month. Ho was not sure what the sum would bo, but it would bo under £10,000,000, probably a few thousands over £9,000,000. The actual sum depended to a large extent on the money coming in from war certificates issued from post offices. They had been coming"in fairly freely for somo time, and the more that came" in the less would be the amount of the loan. Sir Joseph explained that this loan would bo the balance of tho authorities from the old loan of £28,000,000. When the new loan was raised it would complete tho authorities given by Parliament for war loans. Ho said that if the war continued until the end of July next tho sum would nob be sufficient to meet the dominion's requirements beyond that date. 'lf further loans were required Tar liamentary tuthority would be asked to raise them. The ehort session in April, Sir Joseph Ward stated, would be conducted on principles established by tho short sesoic.ii of 1909. It would be-"very short, and there would be no Budget, but probiib'y a statement of finances would, be submitted, and tho Budget would como down at the ordinary session.