A WAR LOAN.

Colonist, Volume LVIII, Issue 14540, 18 October 1917, Page 6

A WAR LOAN.

(From Our Parliamentary Conesponpendont.)

:t_ .; ' Wellington,.Oc?t. 1.7. ■■The second reading of the War I'urposet; Loan Bill, providing for the raising of an additional four millions for war expenditure, was .moved in the House of .Kepi'esontfitives'to-niglit by the Minister of .Finance...- He stated that the tota!> amoun'; borrowed siuoe/ i 1914 for war purposes alone was £41.----684,28-1. There had been other loans autlioriscd which, added to loans for war'purposes,.'gave a total borrowed I and authorised of .-£59,335,000, while i tJie present J?iJi would bring the total up to £63,3-35,000. He felt" quite confident that the country would be prepared to meet its obligations' willingly and loyally. Mr Poarce.fisked if.there wore any likelihood of the compulsory clauses being enforced in respect of tile new loan He expressed the opinion that,-if money was not subscribed voluntarily, it should be taken compuisoriiy. .Sir Joseph Ward stated that it was unnecessary to. pub the ■ compulsory 'clauses into operation for this loan. It ; would be his business to ask the im-. .penal Govon^nent to -accept onr stock in payment of a portion ot\our Jiai)i!i-| ties to it. If six to ten millions could I, Ibe taken up, tJiat would relieve ' the j j necessity of" going en the local market.' ;for that amount. : Tlie Bill was put through hli stages, j