WAR EXPENSES FUND

Dominion, Volume 33, Issue 184, 1 May 1940, Page 11

WAR EXPENSES FUND

Contributions Of Savings

Bank Interest

OFFERS FROM DEPOSITORS

The Government's appreciation of the magnificent response which had been made to appeals for donations to tbe War Expenses Account to help in meeting the cost of conducting the Dominion’s war effort was referred to yesterday iby the Minister .of Finance, Mr. Nasir. He said that so many offers had come from people with deposits in the Post Office Savings Bank to donate tbe interest earned by their deposits that it had become necessary to simplify the procedure enabling this to be done.

The Minister said that forms of authority had been distributed to all post offices throughout the Dominion, and any person who desired to donate, for war purposes, interest earned during the war period on a Post Office Savings Bank deposit could now call at a post office and complete one of these forms. The Alinister pointed out that the signing of one of these forms in no way restricted the depositor's Tight to operate on his account either by way of making withdrawals or further deposits. It merely meant that during the war period the interest normally credited to the account would be diverted by way of gift to the Government to assist in meeting expenditure for war purposes through the War Expenses Account.

In many cases, the Alinister added, this was the most convenient form in which depositors could voluntarily contribute, and while tbe Interest on individual Savings Bank accounts was a small item, the sum total of interest paid on all accounts exceeds £1,500,000 per annum, and if all depositors would follow the lead already given, the total contribution would be of material assistance in financing the war effort. The following additional contributions of interest-free loans and donations, bringing the total up to £1,801,053, were acknowledged yesterday by the Alinister: — State Fire and Accident Insurance Department, Wellington, duration of war and six months, £lOO,OOO. A. Giorgi, Hastings, duration and six months, £5OO. Fines Ltd., Wellington, duration and 12 months, £250. Air. and Airs. AV. Jones, Gisborne, duration, and six months, £2OO. E. M. Herrick, Levin, duration and six months, £2OO. Two Pensioners, Mokihinui, duration and six months, £l5O. Anonymous, Wellington, duration and six months, £lOO. Air. and Airs. Nodwell, Christchurch, donation, £5. Airs. W. F. Armitage, Otaki, donation, £2.