IMPORTANCE STRESSED

Chronicle (Levin), 9 March 1946, Page 3

IMPORTANCE STRESSED

NATIONAL SAYIN^S visit op dominion oiwicers.; . Mr; N. A'. Nasb presided over a special uieeti-ng of the Palmerston oi'tli National Savings Com-nittee on Tharsdav, the members being talled togethjer to meet the Doininion organiser (Dlr. D. Molesworth), also Mr. W. J. Nield, head oiiice rexiresentative andliaison ofticer for the National Eavlngs - eommittees. In welcoining the two oJficers the cliairman voiced.his appreciation of this timely visit. Addressing the members, JMr. Nield stressed the; impo.rtance of .National Savings, not only in wartime but as a peacetime economy. He commended the record of Palmerston North of having 1.5 accounts in every household. remarking that no distriet eould shov, a better percentage. The groups were the foundation of the distriet quotas, as from them was being assured a permanent amount coming out of tke consumers' spending power. In addition to, the amounts xaised for war loans, Mr. Nield said the ordinary. people had contributed £39,000,000 since- October 3940, and tliere were 479,000 Natiojial Savings , accounts • in the Dominion. This was a fine record, and through the sehools "the National Savings pi'oiect was ineulcating the attributn of thrift among the children. The work in the sehools was the finest movement in New Zealand. He instanced the fact that ls a week put in National Savings ;for a child from birth would give a r'eturn of £75 at 21 years — and what beter interest could one expeet? Mr. Nield spoke of the wonderful cooperation . of employers in the 8000 groups in the Domiiiion ,an'd remarked that employers founck an eriiployee with saving habits for himself would also save for his firm. .New aceouiits opeued since the cessatxon of the war wero an indication of the deyelbpment of the attribute of thrift, and in this conneetion Mr. Nield complimented • Palmerston North on once egain exceeding its quota. Distriet eommittees' were a splendid help Mr. Nield said, in conveying an appreciation from Mr. T. M. Smallwood, Dominion chairman, and the Press had given valuable ^assistance in featuring propaganda. The fact that in Jauuary last (gcnerallv a lean month) £77.000 inore was raiscd for National Savings than in the previous Januarv was an answer to tho'Se critics who declared National Savings would go down after the war. National Savings were built up by hundreds of t.housands of people each contri'buting small amounts regularly, and the Dominion had already exceeded the budget amount of £8,000,000. Tliere was nothing like getting out into the field, Mr. Molesworth averred, claiming that personal contaets provided the best results from the organisers point of view. He went on to show that in Wellington in February three organisers opened 15 new groups with 358 group accounts, while 109 dormant accounts were ntadc active. It had to be remembereu tliat today goods and services were in short suply, while the amount of money in eirculation had trebled. The only possible means of keeping a safe balance was for more peojjle voluntarilv keeping money out of eirculation by investing in National Savings. The opportunitv was taken by the chairman to congratulate Mr. Nield on having been the recipient of the M.B.E. in the New Year Honours, which he felt was well deserved for his good tvork. He voiced pleasure in the -atendanee of the officers and said the committee woul d give thought as to how best to apply tbe stimulation of the visit in the interests of National Savings. Acknowledging these rema"rks, Mr. Nield said he was glad tff 'luarn of Miss Warburton's award in the New Year Honours for in his experience he found that pt'ten it was the, women who did the work while the men got the decoration.