FINANCIAL CHALLENGE

Wairarapa Times-Age, 8 April 1943, Page 4

FINANCIAL CHALLENGE

TO THE CANADIAN PEOPLE. VICTORY LOAN CAMPAIGN. OTTAWA, March 18. The Canadian Minister of Finance, the Hon. J. L. Ilsley, has issued to the Canadian people what he himself terms the greatest financial challenge they have ever faced. Budget taxation proposals leave 2,748,000,000 dollars to be raised by borrowing in the fiscal year ending March 31, 1944. The fourth Victory Loan, the campaign for which opens on April 26, will not only have the record objective of 1,100.000,000 dollars, but will seek to increase subscriptions from individuals by 33 per cent. The third Victory Loan, which was floated last October with an objective of 750,000,000 dollars, yielded 991,500.000 dollars from subscribers totalling over two million. Of this 991,500,000 dollars, however, subscriptions by nonbanking financial institutions and industrial organisations provided 600,000,000 dollars, As new corporate funds ordinarily available for investment are now subject to strict limitations, Mr Ilsley is appealing to individual subscribers throughout the country to contribute at least 500,000,000 dollars. “The results of the fourth Victory Loan,” Mr Ilsley stated, “will measure our determination and unity of purpose to attain the primary and outstanding goal for which we all live today—the goal of achieving a complete and overwhelming victory. I am confident we can and will meet this challenge.”