FUNDS FOR HOLIDAYS.

Ashburton Guardian, Volume 58, Issue 90, 26 January 1938, Page 2

FUNDS FOR HOLIDAYS.

SAVINGS BANK WITHDRAWALS. . TOTAL NEARLY £3,000,000. f (Per Press Association.) WELLINGTON, January 25. “Although nearly £3,000,000 was withdrawn from the Post Office 8aA rings Bank last month for the holiday season the highest monthly sum taken out during the last tAvo years—a still larger sum Avas put in,” said the Postmaster-General (the Hon. F. Jones), in an intervieAV this evening. “The deposits exceeded withdrawals by more than £BI,OOO representing a tenfold increase on the excess 12 months ago. “The latest official return of savings slioavs a remarkable increase in the practice of thrift by small depositors. The number of depositors has increased in 12 months by 42,754, a gain of nearly 5 per cent in the last two years, approximately 0000 more people having opened savings accounts. The excess of deposits over Avithdrawals in 1936 was £2,685,000 in round figures AAdiile last year the excess Avas £4,342,000. The total amount to the credit of depositors at the end of 1935 was £50,816,242, Avhich means an average of £SO 18s to each account. In 1937 the total credit of depositors was £60,765,333 giving an average of £66 12s. The returns demonstrate that although people are actually spending a great deal more they are also saving more.”