NATIONAL SAVINGS

Timaru Herald, Volume CXLVIII, Issue 21819, 23 November 1940, Page 4

NATIONAL SAVINGS

MONEY FOR WAR EFFORT War came. The call went out to our young men tn fight. They responded immediately and nobly. Another call went forth. This one to our factories and our farmers. We know how every nerve is strained to increase production; we know also the magnificent response in munitions—planes—food Still another call sounds. The call for National Savings. What does National Savings mean? It means more than the saving of money to be withdrawn from the Post ' Office Savings Bank in a few years’ time—it means victory in the life and death struggle in which our nation is engaged. National saving, means making money available for war effort, but the people are not asked to give their money, but to save it and to save it for themselves. The money will remain the depositor’s money and back to the depositor it will go' when next it may be needed most. It is the small amounts put aside regularly that amount to millions annually and if every wage earner saves his shilling, his 5/- or his 10/- each pay day the success of the movement will be assured. The Post Office has appointed officers in each district to organise savings groups in business firms factories and workshops, offices and shops. Employees are now forming groups to bank a certain nart of their earnings and the money is being deposited each pay day in the Post Office to the credit of each employee’s own private and personal National Savings Account The money so deposited will earn interest at 3 per cent, and be repayable on June 30, 1945. It may be asked how this money, which is merely banked in the ordinary way, can help win the war. The answer‘is that all moneys deposited in National Savings Accounts go to the War Expenses Account and will definitely be used foi war work. There is more to it than this, however, for factories throughout the Empire which formerly produced consumer goods are now diverted to the production of war material: hence the shortage of certain commodities for public purchase. The public purchasing power is the same, or, where wages have increased, is greater, consequently there is more competition for the goods that are available The result is comparable to an auction sale —the goods go to the highest bidder and prices are automatically advanced Inflation is the inevitable consequence, but inflation must be avoided at ali costs. To obviate it the nation asks the people to save and thus to enable the money to be devoted to the purchase of war materials. Those who wish to help but do not have access to a savings group may become individual depositors. Inquire at your nearest Post Office for particulars of the movement and open a National Savings Account. National Savings is designed to gather in the odd shillings that in the ordinary course would be frittered away. Let us hit hard with our savings. Let our saving lead us on to victory.