“SAVE TO SPEND MORE WISELY”

Poverty Bay Herald, Volume LV, Issue 17639, 1 December 1931, Page 3

“SAVE TO SPEND MORE WISELY”

SIR W. SCHOOLING’S ADVICE LONDON, Get. 15. The immense benefits that may result both to the individual and to the nation by saving ancl wise spending were summed up in an address given by Sir William Schooling, vice-chair-niaii of the National Savings Committee, at the Southern Regional Conference ot the National Savings Movement at (Oxford. “The savings movement,” lie declared, “regards saving ns mere machinery, ami as being useful or harmful according to Die purpose to which it is applied. We advocate saving in' order to promote, more and wiser spending. .I.here can be more spending if we accumulate our money at compound interest, as we do in National Savings Certificates.” Sir Lawrence Murgerison, secretary to the National Savings Committee, in a review of the work of the mqvemont for the'year ended March 31, disclosed that:— . .

30,777 National Savings Associations are in being, an increase of 1504, and 19.000 are run bv schools. 63,091,772 certificates of a cash value of £50,473,418 were sold this year. Certificates repaid amounted to £36,911,967 (exclusive of interest), a deercase of nearly £9,000,000. The grand total of savings certificates sold to March 31 was 1,020,615,483, of cash value £802.102,136. The sum remaining invested out of the total amount saved through the medium of savings certificates was (including accrued" interest) approximately £500.000,000.