SAVING £5,000,000

Dominion, Volume 35, Issue 285, 31 August 1942, Page 4

SAVING £5,000,000

“Spring OffensiYe” For National Savings

"A spring offensive on the .home front to remind- those with national savings accounts of the importance of keeping them constantly in action will be conducted in September,” the chairman of the New Zealand -National Savings Committee, Mr. Smallwood, announced yesterday, A review of the 394,000 National Savings Accounts opened with the best ot intentions and a sincere deisire to assist with the successful prosecution of the war, continued the speaker, revealed that only a relatively small proportion were being used regularly. mostly by the 120,000 members of our 7600'savings groups operating in firms and factories. There was peed for the utmost support of every part of our war effort and national savers could join in the coming offensive by taking as their motto for September and the following months, the slogan: "An active account is on active service,”

Mr. Smallwood said that no one was asked to go without tho .necessities of life to contribute to national savings, but they were asked to do without luxuries and non-essentials. He stressed that to divert more and more materials and manpower to the making ot vital war supplies was an objective of tho free nations. By forgoing nonessentials now, civilians were In effect transferring more materials and man-* power war industries; and by lending (lie money thus saved for war exismses, they wero also providing some of the funds necessary to operate war industries.

Notwithstanding several interruptions to the steady progress of the savings campaign, said Mr. Smallwood, results 'had boon well maintained, receipts' having reached £8,332,000 of which £1,H24,000 applied to the cun-ent financial year. From this latter figure ami the present average of receipts it was apparent that a special effort would l»e necessary to reach the objective of. £5.000,000 for the year.