THRIFT IN BRITAIN.

New Zealand Herald, Volume LXVII, Issue 20690, 9 October 1930, Page 13

THRIFT IN BRITAIN.

SAVINGS OF THE PEOPLE. RECENT INCREASE REPORTED. (Received October 8. C.35 P.m.) British Wireless. RUGBY. Oct '■ Notwithstanding the continued industrial depression an increasing sale of national savings certificates is reported. At the present rate of investment 1000,000,000 certificates will have been sold lit the end of the next four months. The regional conferences of the National Savin r, s Committee, which aro held annually in various parts of the country about this time of the year, give a fair indication of popular tendencies in tho direction of thrift. It is impossible to give any precise figure of the money invested in Britain in small savings, but on a comparative basis the amount is estimated at £1,948,000,000, or £45 per head of tho population. Of this total £483,000,000 represents the principal and accrued interest of tho national savings certificates, which form the most popular investment in this c.itegory.

National savings certificates were first issued during the war, in 1916, at 15s 6d, the maturity value in five years being £l. From February, 1916, to August 31, 1929, 926,348,983 certificates had been issued, their cash valuo being £726,688,936. The term was increased to 10 years, which it now is, and tho price to 16s, tho maturity valuo being 245. Tho number of saving associations at work at. March 31, 1929, was 28.174, an increase for the year of 1066. Tho purchases for the first nine months of tlie yjf«ir, to Lumber 31, 1929, were £29,150,000, and the repayments £33,800,000, the repayments being larger because many more of tho certificates were maturing.

The National Savings Committee, oi vvliii-li Lllo president is Sir Robert Kindersley, has as vice-chairmen Sir Theodoro Chambers and Sir William Schooling, t wo noted actuaries and economic authorities and there are members from tlio joint stock hanks, National Union of Teachers, municipal authorities and various Government departments. Last, year a Works Savings .Association was inaugurated, m which members contribute weekly a settled sum for .1 period of years, the employer agreeing to furnish the difference between the contributions and the settled sum in fho case of a member dying. More than 1.000,000 sixpenny savings stamps nro issued to children for their school schemes weekly.