NATIONAL SAVINGS.

Waikato Times, Volume 103, Issue 17326, 11 February 1928, Page 10

NATIONAL SAVINGS.

DROP IN BRITAIN. The effect of industrial depression upon saving is reflected in the eleventh annual report of the National Savings Committee, just issued, says a London paper. During the year ended March 31, 1 927, certificates to the value of £31,924,514 were sold. The value of certificates sold in the previous year was £35,115,630. In the last three months cf the 1926-27 year, however, when industrial conditions were more normal, sales of certificates increased, and were, in fact, greater than the sales in the corresponding part of the 1925-26 year. The increase in repayments on the previous year was considerable, the figures being £35,676,845, compared with £28,378,074. The report states that the increase in the number of certificates cashed is explained in part, by financial needs arising from the industrial disturbances, and is also due to many millions of certificates bought during the special campaign for the 5 per cent. War Loan, during 1917, reaching their 10-year maturity during the year. The total acaaunt remaining invested in Savings Certificates on March 31, 1927, was £371,823,329 —representing, with interest, about £500,000,000.