POST OFFICE SAVINGS BANK.

Press, Volume LVI, Issue 10515, 29 November 1899, Page 4

POST OFFICE SAVINGS BANK.

TO THS. KDITOB OF THS JPBBSS. Sir,-—Perawt mc to,add to "ColomstW able exposure of tbe treatment accorded to tbe depositors in the Post Office Savings Bank, the faQowing facts:—(l) That the Liberal GovenHnent has taken from the profite of the S-vings Bonk, i.e., the profits earned by the investment of the depositors' funds, no less -than £84,500 during the last ten years. (2} That tikis abstraction largely exceeds the amount w9_ch would be charged for income tax to depositors were they habile to pay tax on the interest credited to their accoum-te. The fc-regormig facts have not been touched upon by Liberal candidates, who, having so much the interests of the masses at heart, might have been expected to refer to a subject which concerns 170,000 rions who are depositors. It ia not to wondered that Mr Seddon has not enughtened us on the matter, seeing that the Hokitika Harbour Board, wfhich borrowed £10,000 from the Savings* Bank, has paid no interest on the loan for over three years. —Yours, etc., A DEPOSITOR.