SAVINGS CAMPAIGN

Evening Post, Volume CXXXV, Issue 27, 2 February 1943, Page 3

SAVINGS CAMPAIGN

QUOTA MISSED AGAIN

Commenting today on National Savings investments made in Wellington last week, Mr. J. M. A. Ilott, chairman of the Wellington National Savings Committee, said that during the last five weeks Wellington had failed to reach its National Savings quota of £8000 on each occasion. Just as the war was a continuing thing, so the savings campaign must be maintained to the limit, and citizens should view this matter in the light of personal responsibility, not only as a safeguard to their own economy, but as a vital necessity to divert savings to help maintain New Zealand's armed forces. After an excellent response on Monday last week, when £2133 was invested in National Savings in the Wellington Metropolitan area, investments were smaller for the succeeding days and the city again missed its quota by a margin of £1300, Mr. Ilott continued. Wellington's failure to reach its quota on five successive occasions was a keen disappointment to his committee, but he was still hopeful that citizens would rally to the occasion during 1943 and place the Capital City in a leading position with other chief centres. There were clearly-defined benefits to be derived from systematic and regular saving for war purposes. The investor acquired a sound investment and the money was lent to the State for financing the war effort, thus assuring that life and property in New Zealand weer made more secure.

The danger of inflation was very real, and citizens should see to it that their money was saved and lent to the State, thereby helping to keep the Dominion's economic position in better balance and the purchasing power of currency at a steady level, Mr. Ilott added.