NATIONAL SAVINGS
APPEAL TO HOUSEHOLDERS (Special) WELLINGTON, May 22. A Victory Loan appeal is being distributed to every householder in the Dominion. This step, states the National War Loan Council, is another reminder that no one with material resources is free from the obligation to place a part of them at the country’s disposal in time of war. An effective way of helping the war effort on the financial front was devised by the National Savings Committee, which has proved that the so-called "small” investor can become a substantial factor in this sphere. The plans of the National Savings Committee have not only served the State, but have widened the popularity of thrift, which will maintain its value long after the war is over. In the first year of operation, the National Savings accounts showed an average credit to each depositor of £5, but at the end of last March the average deposit stood at £46. Organised on a national scale, this system of collecting small but frequent cash loans for war purposes has furnished an impressive total of £27,442,086 as contributions to the five war loans. Moreover, the withdrawal of so large a sum from current circulation must have appreciably reduced the pressure on the commodity market and lessened “black marketing” temptations. Best of all. perhaps, this is the most effective method of maintaining sound value for the people’s savings, a value measured not merely in figures, but in terms of goods to be ultimately bought from a wider • selection than can be provided to-day. The Minister of Finance (Mr W. Nash) told delegates who recently met to devise plans to help the 1945 Victory Loan: “The best saving that can be made from this country’s point of view is from the earnings of the people, because they are receiving large sums for which there are no commodities available to-day. You will be helping us to take out of the flood of money the dangerous section for which there are no commodities to buy, putting it into war savings.”
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Bibliographic details
Otago Daily Times, Issue 25851, 23 May 1945, Page 6
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340NATIONAL SAVINGS Otago Daily Times, Issue 25851, 23 May 1945, Page 6
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