CAMPAIGNS IN N.Z. AND BRITAIN

Southland Times, Issue 24438, 19 May 1941, Page 3

CAMPAIGNS IN N.Z. AND BRITAIN

NATIONAL SAVINGS A contrast in the progress of the National Savings campaigns in Great Britain and New Zealand was drawn by the district organizer of the campaign (Mr W. G. Nield) in an address which he delivered before the ward, conference of the New Zealand Dairy Board at Invercargill on Saturday. Mr Nield appealed to delegates to encourage the opening of accounts at dairy factories by suppliers and their families. In Great Britain, with houses and properties being ruthlessly bombed, causing death, suffering and destruction, civilians had, in fifteen months, contributed over £750,000,000 in National Savings or about £2O a head, said Mr Nield. New Zealand had provided £1,500,000 to date, or £1 a head. He believed, however, it would not be long in rising to £5 or £lO a head. In Southland there were 8200 National Savings accounts or about one in eight of the population, whereas 10,000 were the immediate objective. Mr Nield said deposits were lent, not given, and were returnable on June 30, 1945. Interest at 3 per cent., payable yearly if desired, was given, and in effect, spending was merely postponed from when goods were scarce and dear until latei’ when they would be cheaper and in abundance.

“We have pledged ourselves to the last man and the last shilling so that the light of democracy shall not perish. The money is needed right now and we cannot and must not let our Empire down,” he continued. The accumulation of National Savings would help to offset the severity of the inevitable depressions which had followed all wars. Mr Nield summed up the case for National Savings by saying they would help to win the war; help to prevent inflation during the war; help to offset deflation after the war; encourage thrift; and provide a nest egg for the future when money would have greater purchasing power. The chairman (Mr John Dunlop) thanked Mr Nield for his address and commended the scheme to the delegates.