NATIONAL SAVINGS

Timaru Herald, Volume CXLVIII, Issue 21805, 7 November 1940, Page 2

NATIONAL SAVINGS

FIRST £100,600 A milestone of the National covings movement has been passed; the first £lOO,OOO has been subscribed. Last week’s progress report indicated that £66,000 had come to hand in just over a week, and at the close of business on Saturday, October 26, the total was £135,054. There are three outstanding features of national savings in war time as it applies to this Dominion. Two are patriotic and one is private and personal. First, saving money and lending it for war purposes is a direct contribution to the cost of the war in New Zealand and is the most effective method of financing the war. Secondly, every shilling saved which would otherwise be spent on goods, materials or services to be paid for overseas means that there is one more shilling available overseas to provide for our men who have left these shores. Lastly, while serving a dual patriotic purpose the individual is building up for himself an investment, earning interest at three per cent, which can be turned to good account after the war. The scheme as originally launchedlacked facilities for many to contribute as it is not always convenient for workers in offices, factories, etc., to attend at the Post Office to make their investments. Also some hesitate to make a deposit of a shilling or two. This, however, has now been rectified by the announcement regarding group savings in business houses, offices, etc. No time has apparently been lost in developing this phase of the savings campaign that required considerable planning and preliminary work. In Great Britain the group system was well known before the war and the organisation was complete to take up the war savings aspect. With this recent addition in New Zealand to the national savings scheme, there are now ample opportunities to assist and it is up to everybody to do so whether as a member of a group or as an individual in this Empire-wide movement.