Preparations For Savings Week In Christchurch

Press, Volume CII, Issue 30220, 27 August 1963, Page 8

Preparations For Savings Week In Christchurch

Competitions in schools, window displays by retailers, newspaper, radio and television publicity, and displays by various savings institutions will be among the main features of Savings Week which will begin next Monday.

Three years ago the Government became concerned at the steady drop in small savings which were considered of vital importance in the economy of the country. An ail-embracing committee was set up to stimulate savings in all its aspects. Sir James Hay, who is a member of the New Zealand Savings Committee, said the slogan “Save regularly to spend wisely," was evolved and an experimental publicity campaign was carried out in the mam post office districts last year. There had been a spectacular increase in Post Office and trustee savings bank deposits over the last 12 months. The national committee did not claim that this was all due to its campaign; but it must have had a considerable influence on it. Early this year the national committee had considered what could be done to keep savings at the buoyant level they had reached. It was decided to have a campaign covering the whole country, said Sir James Hay, who is also chairman of the local

committee. These local committees were representative of all saving institutions, retailers, wholesalers and local bodies of all kinds. They had been planning their campaigns for the last two or three months. One of the most important means of publicity was the co-operation of the retailers

in giving window displays to dramatise various elements of saving. It was not a case of stop spending to save. Saving and spending were interrelated. The national committee realised this and had persuaded the Government to pennit the opening of special purpose accounts in the Post Office Savings Bank. By such an account a man could save for a motor-car, painting his house, or buying a television set. One of the principal objects of the campaign this year was to make savings a family affair. For instance, grandparents could open accounts for grandchildren and teenagers could open accounts for themselves and save regularly. Savings in secondary schools would be encouraged by a limericks competition with a savings twist There would also be a painting competition for primary schools on the theme of the squirrel. Stickers tor envelopes, markers for library books, posters and banners would all be used to impress on the public the necessity of saving, Sir James Hay said.