SAVINGS BANKS

Evening Post, Volume CVIII, Issue 138, 7 December 1929, Page 11

SAVINGS BANKS

LABOUR'S ATTITUDE

Speaking to a large gathering of railway .workers In the workshops at Lower Hutt yesterday, Mr. AY. Nash, the Labour candidate, attacked the assertion made. by JSIr. Johnston, the Reform candidate, on the previous day, to . the effect that the Labour Party would, if elected to govern New Zealand, raid the interest duo on workers' accounts in tho Post Office Savings Bank. ."I am sorry," stated Mr. Nash, "that it is necessary to take up any of.our time in replying to the misrepresentation _ which tho Reform and United candidates continue to induge in. I would that I could devote the .whole of my time at. these meetings in setting out clearly the constructive side of the Labour Party's policy. It is necessary, however, that; such statements -should be dealt with, although I know that to most of you present the absurdity of.Mr. Johnston's statement regarding the Labour Party's policy and the Post Office Savings Bank is quite apparent. Does Air. Johnston refer to your savings on .a wage of £4.Ss per week? Is.he or.the party he represents really concerned about etiher the interest on your savings when you are able to save or about making saving possible?.- . ; ■ ■. "Had the.party to which Mr. Johnston'owes allegiance so desired on the fourth of last month they could have voted.in such- a way in Parliament as to'have given to each and every one of you on the lower schedules at least the sum of £.10 per annum. That is what the motion moved by Mr. Holland for the New Zealand Labour Party Would have done. The Reform members in the House all voted against that. Does he realise that you would, each one of you, require to have a set sum of £250 in the Post Office to recover £10 per annum by way of interest? What an. absurdity to come and accuse; the Labour Party of robbing you of your interest when representing a party which for seven years has robbed you of a portion of your wages which you were all the time"entitled to receive in accordance with an -agreement arrived' at between your representatives and tho Government. There is absolutely no foundation in the assertion made by Mr. Johnston. The Labour Party would never repudiate any agreement made by a preceding Government. Further, it is the policy of the Labour Party to extend the activities of the Post Office Savings Bank and not curtail those activities." Mr. "Nash also dealt with the subject of workers' compensation, and at the conclusion of his address was accorded a. unanimous vote of thanks and confidence. "