NATIONAL SAVING

Franklin Times, Volume XXX, Issue 91, 18 August 1941, Page 2

NATIONAL SAVING

APPEAL FOR GREATER SUPPORT TALK BY MR SMALLWOOD An appeal to tiie people of the Dominion to "support the National Savings . Campaign in still greater numbers was made by the chairman of the National Savings" Committee, Mr T. N. Smallwood, in a National Service broadcast, last evening. Mr Smallwood opened his address by comparing a statement made early in the war by Lord Halifax with an appeal made by Goering to the German people. The implication in both ap- - peals, pointed out the speaker, was that the sum total of individual effort determines the strength of the nation and to give full effect to this, wishful thinking must give place to deeds. “I have made 'mention on previous occasions,” continued Mr Smallwood, “of the comparative paucity of our saving efforts in relation to our great Motherland and Sister Dominions. Apart from several magnificent examples in \ smaller townships, our present position does not give us great cause for pride. Why is it? Don’t we. care enough: are we too far away from the conflict: as a people are ■we unduly selfish: aren’t we proud of the record of our lads overseas; can’t we make them proud of our record?" ! “The objectives on the financial • .home front are three.. The first is 250,000 pledged National Savers solidly behind our fighting forces. So far we haVe 200,904 and the National Savings Committee is appealing for an- ( other 50,000 without delay. When we consider that ' the objective of 250,000 accounts in pioporlion to the 387,000 households in New Zealand still leaves at least 137,000 households in which there will be no National Savings Account,” continued Mr Smallwood, “the present goal is very modest. When considered on the basis of population, the goal is too modest. Taking our population at 1,500,000 and assuming half are not able to contribute and our goal of 250,000 accounts is attained, 500.000 still remain.”

i The Second Objective ‘ “The second objective,” said Mr Smallwood, is to raise £3,000,000 from National Savings during the year ended March 31, 1942. So far we have raised £2,5260,63 of which £1,204,607 has been received for the current financial year. £3,000,000 a year will entail each individual making a determined effort each week to deposit a minimum sum however small and to exceed it whenever possible. It means sacrifice not of the type Hitler imposed on the German people— Huns before butler —but a sacrifice involving a voluntary restriction of purchasing power to release savings to pave the path to victory, to free funds for vital weapons of offence on the battle fronts. To assist in making regular small savings, it is suggested that greater use be made of group savings schemes, through which, by voluntary arrangement between employer and employee, a deduction is made from earnings for deposit in an employee's own National Savings Account. there is no Savings Group at your place of business, don’t wait for the organiser to call. Send to the nearest post office or savings bank for I forms and start the group.” ! “The third objective—the war loan | —the receipts from which will be | used for the same purposes as Nati ional Savings —has now been launch- ! ed,” said Mr Smallwood, “and it is a challenge to financial institutions and ! people of means —£10,000,000 by the i 2nd September—not long, but quite ; long enough if every board director, ■ executive and controller of investment funds will act promptly.” ! Mr Smallwood concluded by saying, , “Well, 1 have endeavoured to state the ] objectives on the home front. I set i them out not for effect, but from sini cere conviction that they must be i achieved if we are to have cause to 1 be proud and jealous of our honour | and be spared much of the ill effects j of post war adjustments.”