THRIFT OF THE PEOPLE.

New Zealand Herald, Volume LXVIII, Issue 20768, 10 January 1931, Page 10

THRIFT OF THE PEOPLE.

AUCKLANDERS' SAVINGS. INCREASE IN TOTAL CREDITS. FIGURES FOR ONE BANK. The striking total of over £6,000,000 was standing to the credit of Aueklandcrs in tlio Auckland Savings Hank at flie close of 1930, showing that the habit of thrift is being maintained and that, in spite of the somewhat more difficult times, the peoplo are not disturbing their interestearning savings. Tlio actual amount which the depositors were in credit was £6,182,800, whereas at the end of 1929 tlio total was £5,098,600.

In looking back over the year's operations, an official of the bank staled yesterday that the total of the deposits was very little below that of the preceding year. Notwithstanding the depression the deposits still exceeded the withdrawals for tho year. The credit balances of the various accounts show a healthy state of affairs. Tho figures for the year just ended, together with those for tlio freceding j'car, are:— 1020. io;to. Savings Hunk . . £5,852,000 £G, 130,000 fenny 13mik . . 19.009 18,400 Schools Rank .. 14.500 ■ 1(1.000 Thrift Clubs . . 1:5.100 18,400 X5.898.GC0 £0,182,800 This shows an increase of £284,200 fortius year. While it iias to be remembered that of this sum over £230.000 was added by interest it will be seen that the position, in view of the conditions prevailing during tlio greater part of the year, is a very encouraging one.

"Our experience," said tho official, "is that when times are hard the peoplo aro inclined to leave their money in the bank. We also notico that in tho thrift clubs, operating in warehouses and factories in the city, the funds show a noticeable increase, the tendency being to conserve funds. The school banks also show a record of steady work during tho year. The penny banks, which are an old in stitution, are more or less being supplanted by the school banks, and these funds can be expected to show a decline each year."