One of the areas targeted by the Borden government’s new war tax was withdrawals from loan and savings companies. Understandably, such companies were concerned over the possible loss of business, because of the added fees brought on by the new tax. Less than a week after the new taxes went into effect on April 14th, the Waterloo County Loan & Savings Company published an advertisement in the Berlin Daily Telegraph, reassuring residents that their interest rates would “more than offset the small tax of two cents on withdrawals.”
(“War Tax,” advertisement, Berlin Daily Telegraph, 20 April 1915.)
