THE EIGHT MILLION LOAN.

Sun (Christchurch), Volume III, Issue 788, 19 August 1916, Page 8

THE E IGHT MILLION LOAN.

—mK To the hditor t-f THK StN Sir, — the (i<-< i-H n i,f j., to give th. ; people an n! subscribing u Cr' ! f man i( fl purposes came ~S ' Ihe repealed 'i;,u-aienls ofl’ ri.nee Minis!, ! he didu prove nl such . scheme, uf Ihe Bank ..i New Zeal* Beauchamp t ako } ] war loan miiii recently \tv cumstances eunverleii Sir J Wai d and Mr Beauchamp), new policy 1 du n..j knew,t 4( certainly curious dial, ruiltjta, inn the enormous sums r.f hj which have come in N km hi to a great extent on areonj) war, and that the hanks hart* held so many millions at avi vious time, that until nesrh end of the session the Finaatt ister gave no indication thath tended to otter a large [Wm War Loan lor local subseripthj Ihe response lias no! been qaj satisfactory as we desire, ! > that the foregoing statement <j| a suliieient reason, tklievicg j the Government did not intaj offer a local War Loan, manvpei have made arrangenu-nts furies ing their money either in bob) other institutions for Bags, shorter periods. „r in other u and some, at least, will thus ki barred from subscribing Intbebi hut the institutions will, tkii be able to lake up large a*g A cable in 10-nighTs Sun anaa a British loan in Americaof2alH) dollars, or iAO.lihil.tltHi. a! 5 [«« Now, if Great Britain has top n per cent, in a foreign oyi surely the New Zealand (iovera can offer the same rate of intend its own people for their 10an,4 ll does in the case of the Luffi vestor, who pax s income taykh to the investor whose income 4 not reach the income-tax limit 1 is an injustice to the small and is probably an oversight ! small investors arc entitled til per cent, rate to put them (a equal fooling with the large is lor who receives !. per rent: of income tax. An itS.OOO.IHiH loan is a higi to spring upon tin- Dominion such short notice. There is 81 doubt that if the Cabinet hadsiß cd a more heroic policy at the■ set of the session as Mr M stated, adirming that both Fri ment and the people were for such a policy. in Ins swefi either moving or seconding ft* l dress, the counlr. would have® a big effort to subscribe thflj I hope, neverlii. less, that the* will he a success my boiiset** 1 suliseribing ever l pound felt b, spared. An > < A l>" f-* 0 ** to suhscrihe. and or other motive' , gleets MJI is no real frierii to the P"*jJ and Lin pi re. 1 - ■ ■ •" did and heroic c\. Country lias s, ail of us b financial pohex. |ia> ing hn * way and asski; - m-r AH'** Dominions, ako, sliall * our duty if w most to make : a gt** l cess.—l am. etc.. \ JXVEST«*