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The applications for the loan closed last night and, while the full amount of the subscriptions has not yet been ascertained, it is apparent that the flotation has been a magnificent success. Exclusive of several sums which, it is known, will be put into the loan when the investment of them is sanctioned by law, the subscriptions last night exceeded £15,800,000, including, it is gratifying to learn, over £3,000,000 received through the postal money offices. This is a splendid result upon which the dominion has every reason to congratulate itself. Sir Joseph Ward already sees in the great success which has attended the issue of this loan a favourable augury for the next loan. Undoubtedly the over-subscription of the twelve million loan by more than 30 percent, reduces very materially the difficulty that may be associated with the flotation of the next loan. We must not, however, disguise from ourselves the fact that the severer test of the financial resources of the community may be experienced when that loan is offered for subscription. The Government has been authorised to raise 24 millions, if necessary, during the current financial year for war purposes. It is not, however, contemplated by the Minister of Finance that the public shall be asked to furnish, by way of loan, more than 22 millions.
As a result of Sunday’s rain there is a good deal of water lying on the Taieri. The Taieri River rose just sufficient to cross the road at the Outram bridge to the depth of a few inches during the night, but had subsided in the morning. In the locality of the Silverstream and Riverside there was quite a sheet of water yesterday. The water burst the temporary embankment at the big break at Otokia. A gang of men was supposed to commence repairing the break last evening, but as only a portion of the gang attended the work has been delayed till this morning. In consequence of the delay the breach in the bank has widened. Although no damage is reported, almost as much water got through this break as at the time of the big flood in May. The pumping plant had nearly completed the worst of the task, and as a result of the break on Sunday the work has been nullified. This part of the plain is practically back again to its state of a month ago.
History in schools
Reference was made at the meeting of the Auckland Grammar School Board to the fact that very little attention was paid in the schools to New Zealand history. The subject was mentioned following the announcement that a bequest had been made to the Grammar School library by the late Corporal Brinsden, a Grammar School boy, of a number of books of New Zealand history. Mr Garland expressed the opinion that the matter of teaching New Zealand history in the schools was certainly one that should be remedied. New Zealand, as a British possession, had passed through three wars, the Maori war, the South African war, and the great war of today. The greatest interest attached to the early history of New Zealand, and every child should know something of the difficulties which the pioneer forefathers had to overcome. If no such instruction were given at the Grammar School, steps towards introducing it into the curriculum should be taken at once. — ODT, 4.9.1917.
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