SALE OF BONDS

Evening Post, Volume CXXX, Issue 101, 25 October 1940, Page 9

SALE OF BONDS

TRADING BANKS TO HELP

Tracing, banks have agreed to participate, in the" sale of national savings bonds, according to an announcement made last 'night, by the . Minister of Finance "(the Hon. W. Nash), who expressed his appreciation of this offer on the part of the banks.

Mr. Nash said that when the scheme was first drawn up, it was intended to operate if through the Post Office organisation, and in four centresAuckland, New Plymouth, Dunedin, and. Invercargili—Where the trustee savings-banks were operating through these institutions'-also. ' Since then. hoWeyer, the six trading banks operating }ri New Zealand had offered their' services for the sale of bonds, an offer thit "the Government was very pleased to""accept. It was expected that by the end of this week bonds would be available from all branches of the trading banks within New Zealand.

"Bonds will be sold by the banks in the:"same way as they are being sold by- the' Post Office." - said Mr. Nash, "and the* Who]e of Ihc proceeds will go into-.the War Expensas Account. It is anticipated that' the- sale of the bqnds: by the'trading banks will be appreciated by their customers and others who will be 'able Jo- purchase the Tbfonds "when transacting their ordinary'banking business." '

Mr/ Nash stressed thai the real benefit "to- the community from the national I saviiigs scheme would come from theJ new^-and additional savings of the pe^jfre, that was. from the savings effected by•- consuming less "and postponing the pleasure of spending till after had been won.-