NATIONAL SAVINGS BONDS

Southland Times, Issue 25796, 6 October 1945, Page 7

NATIONAL SAVINGS BONDS

Maturity Of First Issue

“The first National Savings Bonds which were issued 12 months after hostilities began, fall due for payment on October 10,” said Mr T. N. Smallwood, chairman of the New Zealand National Savings Committee, when outlining the procedure for the repayment of bonds. “Each, bond matures five years from the date of issue shown on its face and at the expiration of that term may be presented for payment at any money-order office in the Dominion. This applies to all bonds whether issued during war loans or at any time since October 1940.

“Bonds were issued in three denominations, the first issues having maturity values of £l, £lO and £lOO. In later issues, the purchase prices were increased with a corresponding increase in maturity or nominal values, which are shown on the face of the bonds.”

Mr Smallwood emphasized that bond holders who now and in the future would be presenting bonds, for payment would enjoy a reward for a most valuable duty performed in the early days of the war. “I trust,” added Mr Smallwood, “all such will feel a measure of satisfaction in the knowledge of having assisted their country in a time of grave emergency.

“In view of the continued need for saving and for the restriction of civilian consumption so that returning servicemen may satisfy their urgent needs, many bond-holders may wonder what is the best thing to do with the money they will be receiving. May I suggest,” concluded Mr Smallwood, “that the most effective way of assisting our country at the present time is to invest such maturing bond money in a national savings account, which will earn interest at 3 per cent. Money invested up to June 30 next is repayable on June 30, 1948, but provision exists for the withdrawal in the event of hardship, emergency or in special circumstances.”.