INTEREST ON SAVINGS
(To the Editor.)
Sir,—l have been interested in the letters appearing in your columns under the signatures of "Mother ol Four" and "Mother of Three," and I would like to point out to the latter that, although the amount taken by the Government from interest on accounts in the Post Office Savings Bank may to her seem infinitesimal, there is a principle at stake. The Government has made great capital out of the fact that deposits had greatly increased, although today they are silent oq this point, but what is more important the Government has had the use of this money and the depositor has received 3 per cent, for granting this privilege. Now, to "add insult to injury, the Government is collecting for doubtful benefits, 5 per cent, from the interest they have paid out at the rate of 3 per cent. Does this not savour of high finance?—! am, etc.,
NOT SAVING.
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https://paperspast.natlib.govt.nz/newspapers/EP19390511.2.75.3
Bibliographic details
Evening Post, Volume CXXVII, Issue 109, 11 May 1939, Page 12
Word Count
157INTEREST ON SAVINGS Evening Post, Volume CXXVII, Issue 109, 11 May 1939, Page 12
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