WAR LOAN METHODS.

Evening Star, Issue 16195, 17 August 1916, Page 9

WAR LOAN METHODS.

TO THE EDITOR. Sir, —In yesterday's issue you state that by not paying interest on deposits between August 21 and September 1, the Government will save 10 days' interest" (£2,219). But there is another side of the question, as many thousands of pounds will he drawn by depositors from the Post Office Savings Bank to meet the deposits payable when lodging applications on August 21. The Government allow no interest- on moneys drawn out of the Post Office Savings Bank between the first and last days of any month, so every depositor who draws money before the Ist September prox, will lose one month's intrest, and the Government derive the extra profit. It is said that if a depositor wishes—ho need not actually draw money from the savings bank to meet the deposit—he can arrange to have it transferred to the War Loan Account. If this is done, does the depositor still-lose the month's interest, although the saving's bank does not part with the money?—l am, etc., Depositor. August 16. [A depositor must withdraw tho amount from his Savings Bank account and pay the deposit on his war bond; or, if buying certificates, pay for them. There is no provision for the transfer suggested, and the depositor loses the month's interest.—Ed. E.S.]