NATIONAL SAVINGS

Grey River Argus, 27 June 1945, Page 8

NATIONAL SAVINGS

REPAYMENT THIS MONTH. WELLINGTON, June 26. The first repayment of moneys invested in National Savings Accounts falls (Me .on June 30 next, when all moneys invested up to June 30, 1943, may be'withdrawn at any time up to September 30 of this year. Money (the whole or any portion) may (a) be withdrawn; (b) be transferred to a Post Office Savings Bank account or to a Trustee Savings Bank account; (c) be re-invested at 3 per cent, in National Savings for a further term of two years from June 30, 1945; (d) be left where it is and it will remain invested at 3 per cent, and will again become due for repayment on June 30, 1946; or (e) investors may exercise any combination of the above options. • The foregoing does not relate to National Savings Bonds. These mature 5 years from date of issue and may be redeemed, when due, at any Post Office. All National Savings accounts with the Post Office are centralised in Wellington, and allowance should' be made for this fact when lodging applications for withdrawal with your local Post Office. In a statement released to-day, Mr. T. N. Smallwood, Chairman of the N.Z. National Savings Committee, gave full details, and said: “I should like to place before depositors one further matter. Their money will be available at the end of the month, but, which is the best course to pursue ? We have just concluded a war loan campaign, which, besides balancing the War Expenses Account, . reduced the amount of money in circulation and helped to bring the total volume of money nearer to the value of the reduced’ supplies of goods and services available. To withdraw national savings deposits now falling due and put “that money into circulation, would, besides greatly aggravating inflationary tendencies, to a large extent undo all the excellent work performed by the War Loan Committees in the past few weeks. I therefore appeal to National Savings investors that where there is no essential need to utilise these savings, the best course in their own and their country’s interest, is to let their savings continue to earn three per cent, in New Zealand’s finest investI ment.”