SAVINGS GROUPS

Bay of Plenty Times, Volume LXX, Issue 13670, 18 June 1942, Page 8

SAVINGS GROUPS

IMMENSE VALUE “Savings groups all over the country, on which members of oui staff are patriotically giving their willing service, have been urging the public to withdraw their balances with the banks to the greatest extent possible, and invest them in the various forms of savings loans which the Government has put at their disposal. This is a patriotic duty as well as an advantage to the individual. It is impossible to exaggerate its importance, and I would like to add my testimony to the paramount necessity of saving everything possible and of refraining from entering into the harmful competition of trying to buy consumable goods the quantity of which is limited and the price of which tends to increase with every fresh competition to buy, while the effect is to diminish the purchasing power of the pound. If, however, the pounds are saved, purchasing power will be maintained, and after the war, when we are again producing consumable goods instead of weapons of war, we may hope to be in a position to buy what we want at a less cost than would otherwise be possible.” —Lord Wardington, chairman of Lloyd’s Bank, London.