UNEMPLOYMENT.

Press, Volume LVII, Issue 17224, 15 August 1921, Page 6

UNEMPLOYMENT.

R.SA PROPOSALS. CALL FOR NATIONAL THRIFT. The Dominion Council of the NZR.S.A. recently considered the question of unemployment amongst soldiers. The following motion was passed:—"That this council calls upon all returned soldiers to take a leading part in the fighting of the trade depression by the practice of thrift, industry, and good-will; and trusts that the same spirit will permeate all classes of the country." A special committee, with Mr C W. Batten as convenor, was formed 1o frame, definite F ro P osai sAs a result the U.S.A., in a communication to the Government, expressed its belief that th e best solution of the problem of unemployment was to be found in the creation of new capital out of the savings of the people, and the application of the capital so created to carry on necessary public and local bodies' works. The Association suggested that measures shou d be taken to increase the sale of Post Office investment certificates, and that the money so obtained in each provincial district should be applied to hydro-electric works in the district, as these works were considered of the greatest utility and capable of giving work to the greatest number of men. , The following reply has now been received by the Association troni the Acting-Prim© Minister (Sir i rancis Bell):—"Cabinet has given careful consideration to the proposals, of the N.Z.R.S.A. relating to a national savings and employment guarantee fund. The Government recognises the interest in the public finance, and especially in the provision for unemployment shown by the Association, and thanks the Association for the care it has taken to define not only the proposal on general lines, but the machinery by which effect could be given it. The Government is, however, unable at the present time to adopt the method suggested. It is not considered that it would be possible to compete by means of Post Office certificates with the class of investment that is now being offered at hicrh rates of interest, to whioh much of the savings of the people are at the moment directed. The Post Office Savings Bank itself is the surest and safest and cheapest mode of investment of the public savings, and it seems undesirnble to increase the alternative Post Office method or inviting investment in a form which results in an accumulation payable over in one sum at a fixed period.