The Ministry of Finance invites the CNEP to promote the loan of 1918 in its major Australian branches

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This letter, issued under the stamp of the Ministry of Finance on 10 October 1918, was sent to the Director of the Comptoir National d’Escompte de Paris. Signed by the Deputy Commissioner for Loans, Octave Hommberg, this letter strongly encourages the Comptoir National d’Escompte de Paris (CNEP) to promote the Liberation loan in its major Australian branches.

Shaded with patriotism, this letter stresses the Australian legislation favourable to launching loan subscription campaigns and the sense of the national effort. Like the soldiers, the company should contribute to the country’s liberations.

Finance the last battle

The Liberation loan was voted on 19 September 1918 and subscribed from 20 October to 24 November. This was the 4th National Defence loan that the government issued to French people to finance the war effort.  As for the previous campaigns, the French banks assisted the government by encouraging their customers to participate in the operation through the allegorical posters displayed in their agencies. In his letter the Deputy Commissioner for Loans proposed to expand the subscription campaign to the CNEP network in Australia. The bank had established an branch in Melbourne in February 1881 and in Sydney in March 1881.

BNP Paribas Historical Archives
BNP Paribas Historical Archives
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