Story: Treasury

Liberty loans, 1917

New Zealand governments had habitually raised loans in London to support development spending. During the First World War (1914–18) the Treasury department became active for the first time in long-term borrowing within New Zealand to help pay for the war. In this advertisement, Minister of Finance Joseph Ward asks New Zealanders to buy war loan certificates from the Treasury. By mid-1919 over £43 million had been raised within New Zealand, compared with £26 million advanced by the British government.

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Alexander Turnbull Library
Reference: Eph-D-WAR-WI-1917-01

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

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How to cite this page:

Malcolm McKinnon, 'Treasury - The Treasury, 1840 to 1935', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/zoomify/34930/liberty-loans-1917 (accessed 23 October 2019)

Story by Malcolm McKinnon, published 20 Jun 2012