BRITAIN’S SAVINGS
ENORMOUS FIGURES OF POST OFFICE BANK. The enormous turnover of the British Post Office Savings Bank in 1920 is shown in a White Paper issued recently. The figures are:— £ Balance from 1919 .. 266,348,365 Cash received .. .. 101,322,778 Interest .. .. 6,262,082 Paid out 107,425,194 Balance for 1921 .. .. 266,508,032 The charges and expenses of the year were £1,654,421. The explanation of the fact that withdrawals were £6,000,000 more than the deposits is that heavy deposits in one year are followed normally by heavy withdrawls in the next year, a Press representative was informed. Times of prosperity are said to lead, rather paradoxically, to a weakening of the saving habit, and, consequently, to higher withdrawals than there are in times of adversity. The amount deposited in 1920 was double the sum deposited in any year before the war.
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Bibliographic details
Southland Times, Issue 18962, 8 June 1923, Page 7
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135BRITAIN’S SAVINGS Southland Times, Issue 18962, 8 June 1923, Page 7
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