A SAVINGS LOTTERY
(To the Editor.)
Sir,—ln the discussion on art unions, "Give It a Go" suggests a State lottery on certain lines, the proceeds, less a percentage, to be given in prizes. To my mind the following would not only give subscribers all their money back, but would help the State by supplying it with loan money at a cheap rate of interest: Let the P.O. Savings Bank receive deposits of not less than 2s \6d, say, weekly, the interest on such to be balloted for at intervals, each depositor receiving one ticket for every pound at his credit. At the end of a stated period, five or ten years, depositors would receive all the money paid in, less, perhaps, a small percentage to cover working expenses. If this is considered gambling by some of your correspondents, how would they designate building societies, which ballot for money subscribed, free of interest?—l am, etc;, ' PIKIPI.
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https://paperspast.natlib.govt.nz/newspapers/EP19300621.2.53.4
Bibliographic details
Evening Post, Volume CIX, Issue 144, 21 June 1930, Page 8
Word Count
155
A SAVINGS LOTTERY
Evening Post, Volume CIX, Issue 144, 21 June 1930, Page 8
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