Savings Committee To Meet Quarterly

Press, Volume CI, Issue 29950, 11 October 1962, Page 20

Savings Committee To Meet Quarterly

After agreeing on the success of Saving* Week in the city, the Christchurch Savings Committee decided yesterday not to disband but to meet quarterly. It will recommend to the New Zealand Savings Committee that an effort aimed at the same ends as the reoent Savings Week be held next year, and that meanwhile the national committee consider a savings project in schools. “We are still in a national emergency. New Zealand today is at the crossroads," said Sir James Hay, the committee’s chairman. The country needed the advice and guidance of all financial institions, which could be got by the pooling of ideas in the various Savings Committees, he said.

A detailed assessment of Savings Week in Christchurch was made at the meeting, each member of the committee contributing his views. The campaign, said Sir James Hay, had been one of emphasis on the relation of savings—over a wide area —in correction of the national economy, which was out of balance. There was no doubt that a stimulus had been given to the Post Office and Canterbury Trustee Savings Banks, and similar forms of investment, although spectacular results could not be looked for in life Insurance and building society investment. “The degree of publicity could not have failed to have had an effect on people in selling our ideas,” Sir James Hay said. “Never before has

there been such a barrage of publicity to make people say: 'What’s all thi* about?”'

National advertising had been good, and supplementary local advertising outstanding, said Sir James Hay. “Both local newspapers were thoroughly behind us,’’ he said. “I bet there is no other city that has beaten us In news coverage.’ 1

The publicity given by radio and television service* had been “quite good,” he said, and the Post Office itself had shown “real enterprise."

After committee members had given their views, indicating in general the success of Saving* Week. Mr P. M. Mac Shane (Chamber of Commerce, said that he thought the Christchurch committee should remain in operation, and meet quarterly. Thi* was agreed to Mr Mac Shane moved that the committee recommend to the New Zeeland Savings Committee that an effort aimed at the same ends as Savings Week be undertaken next year, and a saving* project in the school* meanwhile.

Mr W. L J. Traver* (Trading Banks) said that thi* would surely be dependent on the national economy, and the move should therefore come from the New Zeeland Saving* Committee in Wellington.

Mr Mac Shane said he eould not agree "Why wait on Wellington to tell u* what to do?" he said. “If we believe it 1* necessary, we should go ahead and say so" Mr C. J. C. Simpson (Chief Postmaster): Have we not been aaked by Wellington to express our opinion? Committee members: Yes Mr MacShane'* motion was then carried.

Sir J* me* Hay said he wished to record thank* to the Poet Office, the two

Christchurch newspapers, th* radio and televiaion service*, th' Christchurch Bwineasmen's Association, Can-terbury-Weatta nd Mtflers' Association, and vartfKfirms which had co-operitedHosely in the Saving* Week project Christchurch had been th* only city where there had been such expensive window displays, he said. Finally, said Sir James Hay, he thanked member* of the committee for their work. “TWa was team work, and that's the way to get a Job done,” he said.

Mr Simpson said that th* success of the campaign had been in great part due to th* keenness and enthusiasm of Si" James Hay, to whom he proposed a vote of thanks. Thi* was carried by acclamation.