TOPICS OF THE DAY.

Marlborough Express, Volume XXXVII, Issue 170, 21 July 1903, Page 1

TOPICS OF THE DAY.

Tub popularity of the Post Office Saviugs Bank and'the thrift of the poople of New Zealand are evidenced by even the most casual examination of the mass of figures appearing in the annual report of the Post and Telegraph Department for the year 1902. That the number of separate deposit accounts, is in the ratio of 1 in every 3J of the population (excluding Maoris) indicates that the adult without a savings bank account mutt be the exception, and that numbers of young people and children have accounts. Nor is the account ef a depositor a mere matter of a few shillings saved, as the average amount at credit of each account has reached the very respectable sum of £30 5s 3d, or a total of £6,883,787, which is'equal to £8 10s 5d for each man, woman, and child in the colony. But it is when a comparison is made between the year just closed and 1892 that the progress of the savings bank system is realised. During the past ten years the facilities fo? the encouragement of thrift have been extended by increasing the number of offices from 318 to 481, or over'sl per cent., and the public has marked its appreciation of this in no uncertain manner, as shown by the fact that the number of deposit i has increased from 186,945 to 411,215—that is to say, by 120 per cent.—and the amount deposited from £1,878,270 to £5,069,619, or 170 per cent. There has also been a steady increase in the total and individual savings. During the decennial period the amount at credit of depositors increased from £2,868,670 to £6,883,787, or at the rate of over 140 per cent. It is only natural that with an increase of 102 per cent, in the number of depositors their credit balances should be largely augmented;» but when it is remembered that the increase in the savings far outstripped the ratio of increase in the number of

depositors, it; will be seen that, not only are there more than double the number of depositors, but that each depositor is richer than in 1892. The table shows the average to have increased 19 per cent,, or from £25 9s to £30 5s 3d. While the amount at credit of depositors increased J4O per cent., the amount allowed by way of interest only exceeded that of 1892 by some 55 per cent. This, of course, is due to the reduction made in the rates of interest between June, 1893, and November, 1897 ; bpt the fact tends to provo that the institution fulfils its function as a savings bank independently of the rate of interest. The interest paid roso from £111,301 in 1892 to £172,926 in 1902. The total

amount of interest credited depositors during"the ten years was £1,363,071. The Department has every reason to congratulate itself on the marked success of the Post Office Savings Bank, and it-he unabated and increasing confi dence of the general public in the institution.

Mb Seddon's proposal to open Tip butchers' shops in England has caused a decided flutter among those interested in the meat trade at Home. The extent to which the equanimity of the middleman has beeu disturbed may be judged from the following dramatic protest made by the Manchester and District Meat Retailers' Association: —'• That this meeting learns with regret of the threatened invasion of the New Zealand Government by tbo establishment of meat retailing shops in the manufacturing centres of the United Kingdom for the purpose of selling their meat products at prices to cover cost 9. As this action will be the means of provoking a struggle between the large producing firms of South. America, Australia, United States, Canada and other countries, and mm to the meat retailer of this country, we, the members of the association, pledge ourselves to discontinue the sale of all New Zealand meat whatsoever in the event of the New Zealand Government carrying out this scheme. We further regret that the New Zealand Government should place the products of this fertile country in such jeopardy." This is only one of the many exprespressions of hostility that have emanated from retail traders; and it is evident that if the New Zealand Government; put into execution a scheme which would have the effect of not only advertising our mutton in centres where it is not now known, but also attacking meat combines and diverting the profits from the pockets of the shipping and distributing companies into those of the farmers, the colony will have to be prepared for stronglyorganised opposition. On the other hand, the many favorable comments that appear in the last file of English newspapers indicate that Mr Seddon would probably find the average British householder on his side, not only fcr economic, but also Imperial reasons; and that would be a great source of strength. This "beef andmutton Imperialism," as one paper terms it, is very attractive, and Mr Seddon's bold step deserves the warmest sympathy.