NATIONAL SAVINGS

Ashburton Guardian, Volume 68, Issue 137, 22 March 1948, Page 5

NATIONAL SAVINGS

EXCELLENT PROGRESS (Special to the “Guardian”). WELLINGTON, March 20. In an interview to-day, Mr T. N. Smaliwod, chairman of the National Savings Committe, revealed that the National Savings receipts from April 1, 1947, to January 15, 1948, exceeded £7,100,000, which is £IOO,OOO above the target set at the beginning of the financial year. “This is a remarkable achievement,” said Mr Smallwood, “when it is considered that this total is £1,500,000 in advance of that received in the same period last year, and emphasises the progress madle by National Savings and clearly indicates its popularity. "The total invested in National Savings since the inception of the scheme to February 15, nearly seven and a half years ago, is approximately £54,589,045 which is made up of £12,500,388 from the sale of bonds and £42,082,707 deposited in investment accounts. This latter figure is spread over approximately 520,470 accounts and represents an aggregate investment of £BO in each account. “The enthusiasm displayed in all districts," continued Air Smallwood, “has made this period a record one, the average weekly receipts for the 41 weeks being £173,170 and 330 out of a possible 352 local annual quotas have been achieved as against 301 for the whole of the preceding year.”