ENCOURAGING THRIFT.

North Otago Times, Volume CIII, Issue 13651, 19 August 1916, Page 8

ENCOURAGING THRIFT.

INTEREST ON SAVINGS BANK DEPOSITS. A PLEA FOR AN INCREASE IN THE RATE. (Per Press Association.) DONEDIN, August-17. The Chairman of the Chamber of Commerce, in his annual address . today said:— "One thing to be avoided after the was is an excess of unemployment, and >yet it is quite possible that, for a time this condition may prevail. Should it do so, it is the working man who will feel the.position most, and, for .this very reason he, above all others, should be encouraged towards thrift. Indeed, this does not apply to any particular time 'only, but to air times, and in it I believe lies one of the greatest solutions of labour troubles. But when we look at the matter impartially, we are compelled to ask ourselves what avenues of investment, arc open to the men who can only save a few pounds a year.' He has one investment, and only one open -to hihi-r—the Savings Bank. And there for the use of his money, he receives a miserable pittance, a rate of interest so low that no capitalist would look at it. On his small savings it is practically not worth considering. Something should- be done to remedy this. Is it any wonder our people arc becoming speculators, and that gambling is so on the increase'? This is a matter in which busines men could interest themselves with ■ advantage to themselves, as well: as to thoso immediately concerned. The Savings Bank shouid exist for the benefit of small depositors, and not for the purpose of providing the Government with cheap money. This, T know, opens up a large question, but one in my opinion worth considering,"