NATIONAL SAVINGS

Otago Daily Times, Issue 24634, 16 June 1941, Page 4

NATIONAL SAVINGS

It has become a matter of concern that the repeated appeals which are being made in somewhat unimaginative terms from the Government radio stations for increased support of the National Savings Scheme are not producing the desired result. The design of this scheme is to effect as completely as possible a mobilisation of the material resources of the Dominion, and incidentally to influence a diversion to the Government for war purposes of funds that might otherwise be wastefully employed. The advantages of such a plan were so obvious that a prompt appreciation of it in the form of a continuous

flow of contributions was to be expected. Unfortunately, the earliest public reaction to the scheme, which was undoubtedly favourable, has not been sustained, and it has been computed'that at the present time the savings represented by the investments in bonds and in deposits do not average more than £1 per head of the population. It is impossible to avoid contrasting this disappointingly poor return with the expansion of the figures of totalisator investments throughout the Dominion, and it would probably not be unfair to trace a relationship between the two circumstances. While the point is one upon which no definite opinion can be expressed, it is most, likely that the class of the community that is responsible for the heavy increase in the totalisator turnover is that upon which the Government has been mainly relying for support of the National Savings Scheme. On this assumption, the argument that there should be a substantial reduction number of days on which race meetings are held during wartime is powerfully reinforced. It is within .the power of a resolute Government to take such remedial action: as would be appropriate. There is, however, a positive manner by which support of the National Sayings Scheme may be encouraged, and that is by the institution of group .savings movements within commercial and industrial establishments. It is gratifying to observe that savings groups are being formed in steadily increasing numbers in the principal centres in the Dominion. ' A national service is being performed by all who assist .in this way in the extension \)f a praiseworthy scheme.