POST OFFICE SAVINGS BANKS.
TO THE EDITOB OF THE INDEPENDENT. Sir, — I believe that the above institutions have already proved very valuablo to iho colony, and have more than fulfilled the anticipotion of their promoters. I believe, also, that it is now practicable to further extend their usefulness. At present the larger centres of population alono reap their advantngep, people in country districts, ten or twclvo miles from a Savings Banks Office cannot convieniently make use of them. The plan I would suggest for their further extension is " that the Government should open offices in the country district?, and as a compensation for the additional cost of email establishments to allow at them no interest on deposits. It is obvious that the Government could afford to open many new offices, if a uew class of offices, paying no interest on deposits, were introduced. Would, however, people in the country invest in a bank which yioldedno interest ? I am satisfied that they would ; and I think it will be found " that tho Bmall depositor values the security offered for his investments and tho facility with which ho can pay in and withdraw them, more than he does the interest derivable from them." In the country, as well as in town, there is a section of tho community to whom money in the pocket or house is a trouble and temptation. Such people are restless till they have spent it, or put it in the bank. In the coun try districts wo have no Savings Bank. We would not ask for interest on our money, if we could but retain the money itself! Besides which, Mr Editor, our wives ure restless wheu we have money lying about our houses, and read to ua little extracts from the Independent, i.e., " Messrs Kirkcaldie and Stains' list of latest novelties." Then, again, the young folks in the country, with their small hoards of silver, seek in vain for a secure place of rest for them. Innumerable, too, in tho country districts are the class of men known as hon. treasurers. There are treasurers to lodges, volunteers, penny readings, road boards, schools, and a dozsn other institutions, who sigh for banks in which they may place the innumerable small sums with which they are intrusted and for which they are responsible; I therefore ask the Gororurnent to consider my suggestion and add to their admirable act a clnuse which will extend the benefits of Post Office Savings Banks to country districts, taking the interest on deposits to pay for the additional cost of management.— l am, &c, Magistee.
POST OFFICE SAVINGS BANKS.
Wellington Independent, Volume XXVI, Issue 3180, 22 April 1871, Page 3
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