NATIONAL SAVINGS

Bay of Plenty Beacon, Volume 11, Issue 32, 23 May 1947, Page 5

NATIONAL SAVINGS

RECORD YEAR STRONG SUPPORT The total National. Savings receipts for the year ended March 31 last were £7,319,391. Of this sum £462,580 represented sales of National Savings Bonds and £6,856,811 investment in accounts. These figures were released by Mr T. N. Smallwood, Chairman of the N.Z. National Savings Committee. “Our objective of £6,000,000 decided upon at the beginning of the year,” said Mr Smallwood, “has been exceeded by a substantial margin, and this is the more creditable when it is remembered that this has been the first year when National Savings has not been assisted by a major National effort such as a war loan. The previous highest yearly figure apart from amounts subscribed during a war loan was £5,000,000.

“The total amount invested in National Savings since the inception of the scheme nearly six and a half years ago is £47,474,463. Of this sum £12,067,438 has been sales of bonds and £35,407,025 deposited in accounts. This latter figure is spread over almost 500,000 investors and represents an average of £7O per account.

“The average weekly receipts to National Savings during the year have been £140,757. The enthusiasm displayed in all districts to make the year a record one is shown in the returns for the last week when the receipts exceeded £308,000. “The strong support accorded this popular thrift movement is deeply appreciated,” concluded Mr Smallwood, “and we look forward to further records being established in the coming year.”