V.CTORY LOAN

Poverty Bay Herald, Volume XLVI, Issue 14880, 7 April 1919, Page 6

V.CTORY LOAN

— »— ; STATEMENT BY MINISTER

APPEAL TO PATRIOTISM,

(Per Press Association.'* WELLINGTON, his day,

Speaking to our representative m regard to the final victory loan of ten million pounds authorised by the last session of Parliament, the Hon. Arthur Myers, acting-Minister of Finance, remarked that although a fair amount of money has already been subscribed to this loan through the Treasury, it is apparent that some people do not realise that the compulsory clauses of the Finance Act sV.ll operate, or that the raising of the amount m question is equally as important >as those sums which wero floated during the actual period of hostilities.

"Our part m this war is not complete," said Mr. Myers, "until we have fully honored the obligations we entered into with the object of playing our part m tho winning of the great .victory that has crowned the efforts of the 3inipire and our Allies. Tt must be remembered that not only is there expenditure continuing oil account of our military forces until deniobHsation, but there is also a large. liability m respect, of gratuities to soldiers lost, and repatriation, etc. Until our monetary responsibilities m every shape have been completed it is our duty to maintain our financial effort at full war strength. "It may be well at this juncture,*"*' added the Minister, "to give a reminder that those taxpayers hot found to be subscribing, adequately to the war lbau Avill bo approached under the.compulsory clauses of the Finance Act, with aview to ensuring their making contributions' to .the loan commensurate with their means. The rate of interest payable on subscriptions exacted compulForily is of course 3 per cent only. However, I feel assured that the urgency of the need for continued investment m war loan stock bos only to be placed before the notice of the coijhtry to be at once recognised and complied with. -.

"Having regard to -^ur larsre expenditure on account of war debt," conoluded Mr. Myers, "I therefore desire again to point out that to my mind the duty of each citizen is no less obvious now than it "tfas during the period of the war to produce to the fullest extent of his powers, to cultivate a reasonably economy and thrift, and to lend every tiling possible to the State per medium of the war loan."