TRUSTEE SAVINGS BANKS
DECLINE IN TOTAL DEPOSITS
TREND CLAIMED TO BE ONLY TEMPORARY (New Zealand Press Association) „ CJ NEW PLYMOUTH, May 5. Confidence that the decline in the amounts deposited with trustee savings banks was only temporary, was expressed by speakers at the annual meeting of the New Plymouth Savings Bank Trustees to-day Commenting on the fact that the amount withdrawn in the year ended on March 31 exceeded the total deposited by £3299, Mr A. M. Thomson said the falling off in denosits experienced by all trustee savings banks was understandable. The main factor was the increased availability of consumer goods in the last 18 months to two years.
The banks, he added, must make every endeavour to encourage thrift and saving. Money thus set aside helped in the battle against inflation; and voluntary savings. properly looked after, played a very important oart in keening the Dominion’s economic structure on a fairly even keel. The decline in the amount denosi'ed showed that the bank was fulfilling the burpose for which it had been established, and was providing facilities for saving money against the time when it was needed, said Mr P. E. Stainton. That time had arrived, and people were using their savings to meet their obligations.
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Bibliographic details
Press, Volume LXXXVIII, Issue 26723, 6 May 1952, Page 8
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208TRUSTEE SAVINGS BANKS Press, Volume LXXXVIII, Issue 26723, 6 May 1952, Page 8
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