New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-07
Victory Loan in
Canada May Go
To S3OO,OOO,OOO
Campaign Modelled on
American Plan Expected
to Reach All People
SPECIAL Ccrreypoudencel
Toronto. Nopember 6.

dieting that subscriptions TO the new
Canadian Victory Loan, details Of
which were announced to-day by Sir
Thomas White, Minister of Finance,
will exceed s25O,OOOO0 and may reach
$500, 100000 The amount asked is only
S150,oOo,0O0, but it is understood that
the Minister Of Finance will make al
lotments 20 the full amount sub
scribed. Extensive plans have been
prepared TO make the issue a demo-
cratic success.
The loan will be hosted upon the
following terms:
Subscription books will open Mon
day, November IL, for five, ten and
twenty year bonds, dated December
/, 1917, with interest payable half
yearly, on June and December /.
Bonds will be in denominations as
low as $50 The price Of the new
loan is TO be par-100 cents on the
dollar-for 51a per cent bonds, with
the privilege Of spreading the payment
over & period Of FIVE months IN month
ly instalments.
'In view of this privilege Of spread
ing the payments, and as a full six
months interest will be paid the pur-
chasers on June l, 1918. the bonus Of
interest thus allowed will reduce the
price, so that the bonds yield the in
vestor SCI per cent on the twenty
year bonds. SOS per cent on the ten
year bonds and 5.s1 per cent on the
fve-year bonds. This loan will carry
conversion privileges into future Is
sues and will be free OF any present
or future Dominion taxes. including
income tax.
"Holders Of Dominion OF Canada de-
benture stock, due October l, 1919, and
of bonds of the three preceding Do
minion Of Canada war loan issues, have
the privilege Of surrenderlng their
bonds in part payment for subscrip-
lions to bonds of this issue, under the
following conditions:
"Debenture stock, due October I,
1919. at par and accrued interest.
"War loan bonds due December I,
1925. at 97is and accrued interest.
"The two foregoing will be accepted
in part payment for bonds OF any Of
the three maturities Of this issue.
"War loan bonds due October 81,
1881. at e71a and accrued interest.
"War loan bonds, due March /, 1887,
at 90 and accrued interest.
"These will be accepted IN part pay
ment for bonds OF the 1887 maturity
only Of this issue"
The loan will be purely domestic and
will be used largely. II not entirely, FOR
the extension of needed credits to the
British government to provide for the
purchasing Of war supplies in Canada,
In effect, however, II Is q strict war
loan, because Canadian credits from
the mother country are approximately
to Great Britain in connection with the
balanced by the Dominion's obligations
maintenance Of Canadian troops in
England and at the front. No effort
will be made TO secure subscriptions in
the United States, and interest will not
be payable, as was the case with the
last domestic loan, in New York.
People Asked to Reserve Funds
On the other hand. it will represent
a we'll organized effort to secure from
the people Of this country the largest
possible subscriptions for war pur-
poses The following statement, issued
this week by the Minister of Finance
is Of interest in this connection:
at has been brought to my attention
that large sums Of Canadian money are
being diverted TO the purchase Of gov
eminent and other securities now held
outside Of Canada
at is, in my view. vitality necessary
in the national interest that all funds
available for investment should be con-
served for the purpose OF subscription
in Canada's Victory Loan. the lists for
which will oren on November IL and
close OF December 1.
81 earnestly trust that the Canadian
people will at this time refrain from
making such outside purchases and re-
serve their money for the new issue"
Our Methods Adopted
The publicity campaign FOR the Vie
tory Loan Is modelled very closely
upon that % Liberty loans In the
United States, and includes newspaper
and poster advertising, addresses to
industrial employees sermons, and per
sonal canvass. Indeed, valuable as
sistance has been given TO Canada'f
/ Victory Loan Committee by United
/ States business men, who helped "a
make the Liberty Loan success. The
campaign now in progress represent;
/ the first serious attempt 70 popular
ize Canada's war issues.3 There were
only 10000 subscribers 10 this coun.
try's last domestic loan, and the num-
bers were considerably smaller in Tho
preceding offerings. This means that
the highest percentage Of the Cana.
dian population which has subscribed
20 any one war issue was u, as com
pared with per cent OF the popu-
lation Of the United States, In the
case Of the FIRST American Liberty
Loan.
1t is hoped 20 increase the number
Of subscribers % the new Canadian
issue to something like 100000. For
the first time, a serious effort will be
4 40 90