NATIONAL SAVINGS COMMITTEE.

Colonist, Volume LXII, Issue 15239, 28 November 1919, Page 5

NATIONAL SAVINGS COMMITTEE.

PROTEST AGAINST PREMIUM BONDS.

I Australian and N.Z. Cable Association}

London, Nov. 23

The National Savings Committee appointed in 1916 to encourage saving is now supervising 35,000 voluntary savings associations. In protest against premium bonds, which appeal to cupidity and are detrimental to steady and persistent saving, the committee points out that savings bank deposits and war savings certificates total £613,000,000, a considerable portion of which might be transferred to premium bonds, involving an intolerable burden, on administration work, without advantage to the State, to wnieh the money is already lent.