THE COLONIST. TUESDAY, APRIL 8, 1919. THE VICTORY LOAN.

Colonist, Volume LXI, Issue 15041, 8 April 1919, Page 4

THE COLONIST. TUESDAY, APRIL 8, 1919. THE VICTORY LOAN.

The Acting-Minister of Finance announces in. this issue that subscriptions to the Victory Loan of ten millions sterling are now being received by the treasury through the usual channels. The completion of this loan will; as far as <?an be foreseen, terminate the necessity for war borrowing, except, of course, as may be required to meet the permanent charges which the European struggle has thrown upon us. The present issue exhausts the authority which Parliament gave to the Government last year, and when the amount is subscribed the people of the Dominion will have to their credit a financial effort which ;. a year before the war would have been scouted as impossible of accomplishment, to such an extent had the country accustomed itself to leaning upon English investors. The (present loan will bring the Dominion's money raising by means of loan for war purposces up; to the respectable total of fifty millions sterling. As Mr Myers points out, the subscription oi this loan is as much, a patriotic duty upon the people of the country as the raising of the several loans which were ■floated with such ■ gratifying success J during the actual war period. . New

! Zealand has to play her part in the - war to the end, and her obligations are j I not yet fully discharged," and will not ,be until the -last man has been repatriated and' all promises have' been honoured. We have no doubt that the , motives, both' patriotic.' 'and thrifty, j which induced the people to • largely I river-subscribe-the previous issues will . operate, as actively in securing fthe. amount the Government now requires. We do not anticipate, that the application of the compulsory provisions of. the ' Finance Act will' be required to secure | full subscription of-the loan, but the j fact is to be noted that the powers. • vested by them in the Treasury will be ; put into operation in the case of tax- •■ payers who are found to be evading I the proper discharge of their obligations to the State. They will be com- ! pelled to contribute adequately, and will, of course, suffer an appropriate penalty as Tegards the interest return on their investment as against voluntary subscribers.