HOME SAFES.

Dominion, Volume 4, Issue 1069, 7 March 1911, Page 5

HOME SAFES.

THE IDEA GAINING FAVOUR.

A couple of years ago we heard a good deal about "home safes" or "home savings banks," and the Government's intention to bring them into uss in New Zealand. "Homo safes" are nn American product, the iesult of keen competition between the commercial savings banks, and is a method to. gather in all the odd coins that can be spared by that class of people who as a rulo get along without a banker. Here they are taking the place of ' children's money-boxes, lather than being regarded as an inducement to thrift on the part of adults, who are really given every facility to bank their savings by the existence of the Post Office Savings Bank. On inquiry being jna'do yesterday as to the measure of popularity the "home safes" were receiving, a Dominion representative was informed that they were steadily growing in favour, and the Department had had to order an additional supply from Anierioa. Up to the present the following "home safes" have been issued:—Wellington, 800; Duncdin, 280; Auckland, 190; Palmcrston North, 86; Thames and district, 58. Tho safes are neat little metal boxes, constructed on the safe principle, with a siot in one end for coin and a round hole in the other for paper money. They are delivered locked to an investor for the sum of five shillings, and tho key is kept at the bank. When it is full or when the owner wishes the amount in tho eafo to bo transferred to an account the Fare has to be taken down to the Post Offico Savings Bank (where it was issued), and there it is emptied, and tho money is placed to tho owner's account. Should a depositor wish at any time to return a "safe," the hank will repurchase it, if it has had fair treatment, at a discount of sixpence, for every clear year it has been in his possession.