LIBERTY BONDS

Wanganui Chronicle, Volume 86, Issue 114, 18 May 1942, Page 3

LIBERTY BONDS

ON SALE FROM TO-DAY CATERING FOR SMALL INVESTOR (P.A.) Wellington, May 17. The issue of Liberty Bonds as from to-morrow was announced by the Hon. P. Fraser to-night. The bonds, ’which will be on sale at £1 each, have a redemption value of 24s in approximately seven years' time. The accretion in value of four shillings represents the interest compounded for the period at approximately £2 16s per cent, per annum, less Social and National Security taxes thereon, and the net. gain is thus four shillings v’hen these taxes are deducted. Mr. Fraser said this was apparently the first occasion in the history of war finance in New Zealand when subscriptions to a loan had been fixed at such a low figure, bui he emphasised there were thousands of people who desired to assist in the war effort who had difficulty in subscribing the minimum of £lO required for Inscribed Stock, and it was because of this fact that Liberty Bonds were being issued. SEVEN MILLION MARK

APPROACHED BY LIBERTY LOAN (P.A.) Wellington, May 17.] Stating that Liberty Loan applica- : tions were now approaching the £7,000,000 mark, Mr. Fraser remarked: "This progress is most satis! ac- j tory, but so far it appears to be the i bigger investors who are responding . most freely. It is anticipated, how- 1 ever, that applications for smaller ! amounts will begin to show appreci- . able increases now that half the | period of the appeal is over. If | everyone who is in a position to subscribe £lO. £5O, or £lOO or more, docs so now. it should result in the number of subscribers reaching twice that of any previous loan. The people of New Zealand need no reminder that the enemy will not be overcome without a supreme effort on the part of everyone of us. This is an opportunity for New Zealanders to demonstrate that the Dominion’s financial resources are fully equal to the demand. and moreover that the Now Zealand citizen is the willing supporter of the soldiers, sailors and airmen defending the liberties of everyone of us."