The Taranaki Herald. DAILY EVENING MONDAY SEPTEMBER 22, 1919. THE VICTORY WAR LOAN.

Taranaki Herald, Volume LXVII, Issue 16546, 22 September 1919, Page 2

The Taranaki Herald. DAILY EVENING MONDAY SEPTEMBER 22, 1919. THE VICTORY WAR LOAN.

Sir James Alien, during tlie discussion on the soldiers’ gratuity proposals in tire House on Friday, seized the opportunity to make an appeal to the people of New Zealand to subscribe to the ten million loan now being offered. The soldiers’ gratuities, amounting to something like six millions sterling, will have to be met out of the proceeds of the loan, and it would never do to have it said that the men who have risked their lives in the great war have been kept waiting lor their money because those who stayed at home were slow in finding it. The whole Dominion, we believe, will approve of the giving of these gratuities and now that tlie Finance Minister has told us that he will pay them out of The Victory Loan it would add greatly to the spirit of the gift if the money were subscribed freely and quickly and without too mucii pressing. Applications are advertised to close on Thursday next, but the date will be extended if necessary, though it should not be necessary. There is an abundance of money lying in the country awaiting investment, more than enough to cover the whole loan iu one instalment, though the payments are spread over four or live months. Everyone, of course, has not a sum of money lying idle, but that fact need net stand in the way of anyone whose credit is good with his bunker from subscribing, for the banks are prepared to advance the greater part of the money for clients on exceedingly favourable Urnis. The Australian Mutual Provident Society and the Government Life Insurance Office are also prepared to issue policies specially designed to enable their clients to fulfil their obligations. It is as well that it should be thoroughly understood that the compulsory provisions of the Finance Act will be put into operation if necessary. Under this Act a land and income-tax payer may be compelled to contribute to the loan three times the yearly average of the landtax and income-tax (exclusive of excess profits duties) paid or payable for the last three years. Those who are so compelled to contribute will receive only three per cent, per annum on their invebtmeuts instead of the four and a half per cent, paid to voluntary subscribers. Further than that, should the subscriber under compulsion desire later to sell his bonds he will find they are worth no more than, say, about £65 instead of £IOO because of the small return they give to the investor. Only foolish people therefore will put themselves iu the position of being compelled to subscribe. The investment offered is a good one—four and a half per cent, free of income-tax and the terms of payment arc not difficult, being spread over four months, so that there should be no hesitation on the part of those with money to invest—be it little or much—To subscribe as liberally as they can to the Victory Loan.