LIBERTY LOAN.

Colonist, Volume LVIII, Issue 14483, 15 August 1917, Page 6

LIBERTY LOAN.

MINISTERIAL EXPLANATION

(From our Parliamentary Corres* pendent.)

Wellington, August 14. While explaining to the House of Representatives this afternoon the provisions of the-,War. Loan prospectus, the Minister of Finance stated that he could not impress too strongly on the people of New Zealand the fact that it was abBolutely essential that the £12.000,000 now sought should be provided. He would make provision for the necessary authority to enable any holders of certificates under last year's loan to obtain a transfer to the new ten years bonds at 5 per cent, if they wished! As to the maximum amounts to be invested by any one person in Post Office- war objectionable. had found that one person had secured about £14,000 in last year's war certificates, in spite of the limit fixed. The dbieet, of course, was to get investments for money at the short period of five years.

.Dr. Thacker: You ought to put him on Somes Island

Sir Joseph Ward: A declaration will have to be made by whoever invests in these small bonds, that he is not an in-come-tax payer. AnsAveritig questions, Sir Joseph Ward said the l>anks had agreed to lend money for War Loan purposes at not more than 5| per cent. Insurance companies in England gaive facilities voluntarily, and they would Ibe encouraged- to do so in New^ Zealand, When members saw the taxing. Bill they would find tliafc people had not clone, their duty in contributing to the War lioan wero amply provided for. • The Minister" indicated--that -the second bajf of tbe'loau would be floated about March.'"