MATURING BOMBER BONDS

Te Puke Times, Volume XXXVI, Issue 23, 25 March 1947, Page 2

MATURING BOMBER BONDS

LARGE SUM DUE AT END OF MONTH In an interview .to-day, Mr T. N. Smallwood, chairman of the New Zealand National Savings ('ominitlee, revealed that the National Sayings Bonds sold; during the special “Bonds for Bombers” campaign in 1912 commence maturing on the 23rd of March and (luring the following three weeks nearly £‘3,000.000 worth of Bonds fall clue for payment. “Special facilities for dealing with the Bonds will be available at Post Offices and Trustee Savings Banks. Suitable notices, which will be displayed in all Hi esc offices will advise investors of the counters at which the “Bomber Bond” transactions are being recorded, and will also indicate suitable investment avenues which are available in case Rond holders do not require the cash at present.

“These investment avenues available," continued Mr Smallwood, “are firstly National Savings Investment Accounts where the money will earn 3 per cent interest and again become due. for repayment on the 30th June, 1949. All that is necessary is to pay the Bonds into a National Savings Account in the ordinary way. There is a limit of £IOOO for each year ended 30<h June on the amount which may be deposited in National Savings Accounts, but as an alternative there is the Government Stock issue. A further option is to place the money in new-issues of National Savings Bonds. Although the reduction of 6d in the £‘l National Security Tax does not take effect until the 20th April, all Bonds issued in replacement of Bomber Bonds will carry in (heir maturity values the benefit of the tax reduction. If, however, thy, money ,is required for some purpose at an early date, it can of course be placed at a lesser rate of interest in an ordinary Savings Band Account. All lliose transactions will be carried through at the one counter.”

“When the “Bonds for Bombers” campaign was inaugurated our backs were against the wall and (lie dark shadow of Japanese aggression lay heavy over New Zealand, The campaign was an unqualified success, moral ;a>wcll as cash reaching a hig^r -^* level. However, peace time has brought its dangers—that of inflation being paramount, and I think we arc all conscious of its presence.”

"If Bond holders do not urgently require tlie proceeds of their Bonds for some special worth while purpose," concluded Mr Smallwood, “the N.Z. National Saiings Lonin-.ittee appeals to t'lem to make another good in- '■ estnient and thus help ru curb the threat of inflation intil such time .as the supply of goods and commodities mere nearly matches our purchasing power.”