ENCOURAGEMENT OF THRIFT.

Colonist, Volume LVII, Issue 13999, 1 February 1916, Page 5

ENCOURAGEMENT OF THRIFT.

AVAR LOAN COMMITTEE'S REPORT

SCHEME FOR WORKERS

(Received Jan. 31, 9 p.nv.)

London, Jan. 30

The committee's report on the war loan scheme, for. workers provides that every deposit of 15s 6d or an acquniu-:: lation of sayings reaching that sum ontitles the subscriber to receive, £1 at. the end of five years, era pro rafca amount for a lesser period. The committee reported against increasing the interest on savings bank deposits, and against forced loans by deductions from incomes. It recommends the organisation on an extensive scale of' Voluntary Baying associations, and the adoption of an in-i stalment scheme facilitating the lodgment of small amounts until they reach j 15s 6d, either through savings banks or by cards with - spaces for six penny stamps. The committee also suggest drastic taxation calculated to curtail unnecessary expenditure, and also that a greater proportion of tlio cost of the war should be raised by a&ditional taxation, particularly of t% wealthier portion of the community. It Recommends that- war savings associations; should devise schemes to .encourage thrift. It does not recommend lottery bonds, fearing objection by a large section-on the ground that an element of chance would bo involved.