NATIONAL SAVINGS

Bay of Plenty Beacon, Volume 3, Issue 261, 22 January 1941, Page 5

NATIONAL SAVINGS

FORMATION OF GROUPS

WIN TIIE WAR EFFORT

There is no room for slackers in the British Empire to-day and, as there is a job for everyone in the British Isles, so there is opportunity for all to strive their utmost in New Zealand. This is the National Savings Scheme, which gives all the-op-portunity of "doing their bit."

The National Savings Scheme is an Empire wide movement. In one year in Britain £400,000,000 have been saved, while in Australia the £14,000,000 mark has been passed. New Zealand is far behind. The Group Savings Scheme is a new move, the aim of which is> to enrol groups of employees giving in reality each group its own banking facilities at its place of work. The Necessity. Why is saving necessary in . war time? It is only too terribly clear surely, that when a great portion of our producing power is diverted jto war purposes, our economic structure gets out of balance. Factories turn to war work, men leave their daily jobs and join the colours, goods are prevented from arriving here in the'usual way for all countries are effected. There is a terrific lessening of the supply of goods —certain and increasing as the time goes on. That covers the present upheaval, but when the w r ar has been won there is still a great need. Then comes the huge problem of reconstruction. Saving in war is the safety valve. Save in war to spend in place.—that is sensible surely. Production is row reduced, earning power is not. If rising prices are to be presented ther. all must save now and spend when the bo$ T s come home. Saving, after all, is merely the storing up of purchasing power. Saving now to lend for war purposes works three ways. Firstly the money is obviously needed to equip our lads, to arm them, clothe and maintain them. Remember they cannot win this war with bare hands. All in New Zealand must bear the burden of ensuring that our men are properly supported. Those at home must Use worthy of them—surely they must be given their due—their fighting chance, Next there is the fact that every shilling saved which would have gone in buying overseas goods leaves another shilling for our men overseas. Lastly, while carrying out these two line purposes, these two plain duties, everyone who saves to lend is preparing to make the future worth while. One doesn't need to be an economic expert to know that during war there are only two choices — either saving or lending, or allowing earnings to disappear in the • spiral of prices made by the fact that more money than goods is available. It amounts to one thing—• .save or lose. However, the main appeal to all will be the fact that to join a group is to help the war effort. Money is little to offer when men offer their lives. They lend and sadly enough often lose their lives, and there is no three per cent on them either. Everyman's War Loan is to be called—this is the National Savings Groups movement. One shilling will open an account and that nimble shilling will work night and day ijght at the front. Of course ten shillings, will work ten times as hard, and thus the appeal is that as much is loaned as possible. The machinery for opening a Group is simple. A number of workers arrange for one of the number to act as organiser who will obtain the necessary forms from the local Post Office, fill in two simple forms and then enter these on a summary and present them with money at the office. In a few days each member of the Groups will receive a Bank Pass Book with the first deposit credited. Each subsequent deiposit will be entered in the pass book by the collector and the money, deposit-slips and summaries presented after each fray day at the post office. £ s d Is weekly in 5 yn-« 19 6 2s weekly in "5 v ° s -w"'* h*-. 4 5s weekly n v *""* '* 7 R 10s week 3' s 20s wee v '" * (G»n +; ..l . '"W; v- . J! ■

Taking up :t War Savings Group Investment Account, means in so many words —"We are going to win. I intend helping and this is my evidence of faith in our cause, 1 * It could also be stated that the action would be a wise one in that whoever adopts the scheme is building a ''nest egg." These savings mean guns, munitions, food, tanks and all the rest of the costly mechanised needs o§ war. So to enlist savings in tlie fighting forces means to be right on the job. Lend in war to spend in ocace—lnvest savings in victory.