MUNICIPAL SAVINGS 'BANK
BASED ON COUPON SYSTEM. Australian-New Zt&limd Cable Association.
London, September 14. ! The Birmingham Corporation has inaugurated the fiist municipal savings bank scheme devised by Mr. Neville Chamberlain, under which workmen may empowor their employers to pay portion of their weekly wages 'in coupons which are to be affixed to bank books. It is believed the coupon system will inducc many to '.save who hitherto have been tempted irresistibly to spend money. ' The ' municipality guarantees the principal and 3J per cent, interest. The money can be withdrawn at a week's notico. One hundred and twenty firms, employing fortyfive thousand people, are co-operating in the scheme.
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https://paperspast.natlib.govt.nz/newspapers/DOM19160916.2.47.24
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Dominion, Volume 9, Issue 2878, 16 September 1916, Page 9
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107MUNICIPAL SAVINGS 'BANK Dominion, Volume 9, Issue 2878, 16 September 1916, Page 9
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