VICTORY LOAN

Timaru Herald, Volume CLVI, Issue 22992, 8 September 1944, Page 4

VICTORY LOAN

Help In Fight Against Inflation Investments For War (N.Z.P.A.) WELLINGTON. Sept. 7. In two capacities the Hon. D. G. Sullivan discussed the Victory Loan in a broadcast address last night. First, as Minister of Supply and Munitions, he was able to give some interesting facts about, the use of war loan investments and then, as Minister in Charge of Stabilisation, he urged full support of the Victory Loan by everyone, so that the threat of inflation will continue to be kept away from New Zealand’s economic life. This being Navy Week in the loan campaign, the Minister declared just as our sailors had faced dangers and hardships year after year, we mustffie sure to do our part, making any Sfcrifice which will hasten victory and at the same time ensuring stable economic conditions for our sailors and other servicemen on their return to civil life.

Some of the money subscribed to previous War Loans and some which would become available through the Victory Loan would, said Mr Sullivan, help to pay for the fine mine-sweepers and other naval vessels and barges which had been constructed in New Zealand for our own Navy and that of our Allies—hundreds of vessels, all well and truly built by skilled artisans to stand up to the rigorous service for which they were urgently needed. Manufacture of Munitions “Our munitions manufacture,” continued the Minister, “will amount to a value of many millions of pounds during the coming year as they have in the past years, and so will our production of all kinds of necessary supplies for our own fighting men and those of our Allies. These munitions and supplies can only be paid for by the efforts of the people on the homo front. We can pay for them only by taxation or by raising loans. Though taxation has necessarily been at a high level throughout the war years, incomes, too, have also been at a high level and there are great financial resources in the community still available for helping to finance the waxthrough the Victory Loan.” One of the important objectives of the loan was to achieve economic stability aftex- victory had been achieved, added Mr Sullivan. “No greater civil danger threatens a warring nation and no peril is so likely to disillusion our hopes of a happy peace than a post-wax- inflationary boom. It would destroy many of our plans for the future and fox- our brave servicemen and alfcfof us of our economic and social security, perhaps for a long period. It is to help prevent such a catastrophe that the stabilisation policy of the Government is being pursued with the utmost determination. Every pound you invest in the Victory Loan helps to keep down the cost of living. It helps in the light against inflation. It helps to provide economic security fox- our fighting men when they return to oux- midst." Eastbourne’s fine achievement in raising its quota of the Victory Loan within the record time of two days is to be suitably acknowledged by the Wellington District Committee The quota was £18,426. The population of the borough is 4500.

Nearly £9,000,000 Raised (N.Z.P.A.) WELLINGTON, Sept. 7. The amount subscribed to the Victory Loan to-day was £650,974, making the total to date £8,841,579. The objective percentages obtained to date are as follows: Southland 47; Auckland 43; Taranaki 30; Otago 27; Marlborough 23; Wanganui 21; Manawatu and North Otago 20; Wellington and Nelson 19; South Canterbury, Wai-kato-King Country, Hawke’s Bay. Westland and Buller 18; Northland and Wairarapa 17; Thames, Bay of Plenty, Canterbury and Gisborne 16.