VICTORY LOAN

Timaru Herald, Volume CLVII, Issue 23226, 13 June 1945, Page 4

VICTORY LOAN

£5,000,000 Short Four Days To Go (N.Z.P.A.) WELLINGTON, June 12. The Reserve Bank announced tonight that the total of the 1945 Victory Loan is now £19,797,658. Cash subscriptions during the day amounted to £815,276, including £18,150 of redeemed promises. The sum of £5,202,000 is required within the next four days. The amounts and percentages of the objectives of the 20 war loan districts

When two weeks remained in which o complete the 1945 Victory Loan, it vas estimated that the minimum daily investments must be at least £840,000 but a week later, as that objective had not been reached, the daily rate required rose to £1,107,000. At present, with four more days before the loan closes, the daily task is to get at least £1,500,000. This survey, states the National War Loan Council, should not be taken as an indication of declining interest in the loan, but only as further evidence of the general human weakness of not paying a bill or even registering one’s motor car until almost if not actually the last possible moment. Penalties and lost discounts are usually tried as a means of enforcing promptitude, but with the Victory Loan there is only the obligation of a desire voluntarily to help one’s country in paying a heavy war bill. All the money could be raised in a compulsory fashion through taxation, but New Zealand’s plan has been to raise by loan and repay with interest approximately half the total war expenditure. The earlier the investment the earlier interest commences to accumulate. The only penalty for late investment, adds the National War Loan Council, is the possibility of a reflection being cast upon the whole community that although heavy sacrifice in life and suffering saved us from invasion and from dictatorship the cost in money was tardily paid under the voluntary system.

are now: Wellington Southland £ 3,520,838 1,146,737 Per Cent 96 90 Wairarapa 329,781 85 Auckland 4,830,624 83 Taranaki 776,695 83 North Otago .. .. 197,294 82 Gisborne - East Coast 347,948 80 South Canterbury . 471.156 79 Wanganui 589,207 75 Hawke’s Bay .. .. 720,762 75 Northland 336,083 74 Nelson 381,894 73 Thames - Bay of Plenty 396,079 72 Otago 1,585,568 70 Manawatu 768,871 70 Waikato King Country .. .. 926,143 69 Westland 232,830 69 Canterbury 2,002,466 68 Marlborough .. .. 172,145 67 Buller 64,537 62