SMALL INVESTORS

Southland Times, Issue 22157, 27 October 1933, Page 7

SMALL INVESTORS

GROWTH OF SAVINGS STRONG MOVEMENT IN BRITAIN NATIONAL SAFEGUARD (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, October 26. The fact that small investors in Great Britain have holdings amounting to well over £3,000,000,000 was cited by the President of the Board of Trade. Mr Walter Runciman, as one of the sure safeguards against drastic upheavals in this country. He was speaking at a conference of the National Savings Movement, and he declared that no one could say a country like Britain, in which about 15,000,000 people held such an amount, was not a very stable industrial and financial concern. Not another country in the world could show such a record. “I have heard it said that one of the reasons why we are so stable while other Governments are tottering and falling is due to that national spirit,” said Mr Runciman. “There is something more than the national spirit in these figures. There is abstinence from waste; there is accumulation of savings . built up from small beginnings to a larger and larger amount until now there is a great difference between the democracy of this country and abject poverty. What with this movement and all that is appertaining to it and investments which have taken place, there is very little doubt that we need have no fear of this country being swept away in a wave of Bolshevism.” Mr Runciman was careful to emphasize that the total mentioned belonged solely to small investors and did not include houses fully owned or investments in industrial concerns. It was stated that one-half of the National Saving certificates were owned by small people. The chairman of the Savings Committee said the movement had contributed much to keeping conditions steady ir. difficult times and in helping British trade recovery, signs which were steadily increasing.