NATIONAL SAVINGS
* ' YEAR’S RESULTS £40,000,000 MARK PASSED In releasing today the figures for the National Savings year ended 31st March last, Mr T. N. Smallwood, Chairman of the N.Z. National Savings Committee, revealed that at the close of the year National Sayings investments had reached the very considerable total of £40,154,990; £11,604,799 being in Bonds and £28,550,191 in accounts. Commenting on this achievement Mr Smallwood said it was remarkable that in just over 5 years so large a total should have been gathered in small savings, clearly demonstrating the popularity of the movement which has now become a regular part of our normal economy. The amount held in accounts is spread .pver more than 480,000 accounts of Which close on 200,000 are operated in group schemes in factories, offices and shops. Over the years there has been an interesting increase in the average holding. In 1941 it was £5. Today it'is £59. “The past year has been a particularly good one,” said Mr Smallwood. “We set a target and undertook to contribute to the 1945 Victory Loan the sum of £8,000,000, but so enthusiastic has been the response that the year’s receipts total £9,369,696. Of this sum £1,289,837 was invested in Bonds and the balanc eof £8,079,858 was placed in •National Savings Accounts.”
“These splendid results have only been achieved by the enthusiastic co-operation of group collectors and the managements of business and commercial houses and also •by the loyal services of Local Committees and Organisers. To all these as well as to the great body of investors, the N.Z. National Savings Committee extends its grateful appreciation.”
“Throughout the war years, National Savings has played an important part in helping to stem the tide of inflation. This danger is not yet passed—in fact, taking a line from the last war, it may be more acute in the next year or two than during the war years. I therefore urge everyone regularly to place as much as possible in National Savings and thus while not only assisting the country’s economy will be directly benefiting themselves by building up a handsome sum for future use.” ,
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Bay of Plenty Beacon, Volume 9, Issue 88, 19 June 1946, Page 8
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353NATIONAL SAVINGS Bay of Plenty Beacon, Volume 9, Issue 88, 19 June 1946, Page 8
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