UNEMPLOYMENT

Evening Post, Volume CII, Issue 38, 13 August 1921, Page 6

UNEMPLOYMENT

R.S.A. PROPOSALS

CALL FOR NATIONAL THRIFT,

The Dominion Council, of the N.Z,R,B,A, recently considered the question of unemployment amongst eoh diera. The following motion wae pawed : "That this council calls upon all return' cd soldiers to tako a leading part in the fighting of the trade depression by the practice of thrift, industry, ana good-will; and trusts that the same spirit will permeate all classes of the country." A special committee, with Mr, 0, W, Batten as convener, to woe considered to frame definite proposals, As a result the R,S,A,, in a comtmnieation to the Ok>v= eminent, expressed its beliaf that the' best solution of the problem' of unem* ployment \va§ 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 should be taken to increase the sals of Post* Office investment certificates, and that the money so obtained in each provincial district aherald 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 from the AotingrPriqie Minister (Sir Francis 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 high rates of interest, to which much of the savings of the people are at the moment directed. The Post Office Savings Bant itself is the surest and safcet and/cheapest mode of investment of the public savings, and it seems undesirable to" increase the alternative P,c«t Qfflce method of inviting investment in a^form which reauilts in an accumulation payable over in cr.e sum at a fixed period.'y