WAR LOAN SCHEME. FOE WORKERS

Dominion, Volume 9, Issue 2683, 1 February 1916, Page 5

WAR LOAN SCHEME. FOE WORKERS

ENCOURAGING THRIFT By Telegraph—Press Assoclatiou-CoDyrisUt (Rcc. January 31, 9 p.m.) London, January 31. In the committee's report on the war loan scheme for workers, it is provided that every deposit of 15s; Gel., oKaccunrulation of savings reaching that sum, entitle the subscriber to receive £1 at the end of five years, or a- pro rata amount if for a lesser period. The committee reported against increasing the interest rate on Savings Bank deposits, and against forced loans by deductions from incomes. It recommends the organisation on ail extensive scale of voluntary saving associations, and the adoption of an instrument scheme facilitating the lodgment of small amounts until these reach 15s. fid., either through the Savings Banks, or cards, with spaccs for six penny stamps. The committee also suggests drastic taxation as-being; calculated to curtail ■unnecessary expenditure, and also that a greater proportion of the cost of the v,-ar bo raised, by additional taxation, particularly of the wealthier class of the community. It recommends War Savings Associations to devise schemes to encourage thrift, but does not recommend lottery bonds, fearing the objection of a large section on the ground that the element of chance was involved.