NATIONAL SAVINGS

Greymouth Evening Star, 22 May 1943, Page 6

NATIONAL SAVINGS

MR. NASH’S*STATEMENT WELLINGTON, May. 21. Discussing national savings to-day, Mr. Nash explained the meaning of a notice which is published in the Gazette. This notice, he said, provided the annual authority under which new or continuing investments in national savings could be accepted by the Government. There was one important alteration dealing with the maturity date of future investments. Investments already made or up to June 30 would mature on June 30, 1945; investments after June 30 would mature on June 30, 1946. The interest rate remained unchanged. The Minister again drew attention to the important part which national savings are playing in the economic 'stability of the Dominion. Money saved at the present time and lent to the Government, he said, stored up excess purchasing' power and would later be made available for the purchase of goods which were not now obtainable. ECONOMIC STABILISATION WELLINGTON, May . 21. An increase of 1.1 per cent, in the war-time price index was principally due to increases occurring in fresh fruit, vegetables, milk, and eggs after adjustments had been made for normal seasonal movements Mr Sullivan stated to-day. These seaonal adjustments had caused the wartime price index to differ from the ordinary retail price index. For instance, small increases in soap were more than offset by decreases in potatoes and meat. The war-time price index was an essential feature of New Zealand’s economic stabilisation plan, and there was a need for everybody to understand and cooperate with the stabilisation programme, which was designed to ensure that money in the hands of the public would buy the same quantities of essential goods now and in the future as it did in the re<’ent past. Fixing of maximum prices and ' stabilisation of incomes and wages were means to that end, but they could succeed only with the active help of every New Zealander. It was gratifying that such a relatively small change had occurred in the index, and it was the duty of all to prevent further rises whose effect would be harmful to all.