A GRATIFYING TURN

Evening Post, Volume CXV, Issue 38, 15 February 1933, Page 8

A GRATIFYING TURN

The Post Office Savings Bank is an index to the prosperity of the people. When,the standard of prospenty is rising . deposits increase. The increase does not equal the rise in income, for spending also ' increases; but the thrifty will always try to save a little when they earn more. Of course, the reverse is also- true. When times are difficult savings must be drawn upon. This has been the position with the Post Office Savings Bank. Many workers have been obliged to use part of their small capital. Last month there

was a change, and deposits- exceeded withdrawals by £25,000. In making this announcement yesterday the Postmaster-General stated that^ the position had been improving steadily since July. For the present month the withdrawals, usually heavy at the beginning of a month, had been very small indeed. It cannot be assumed that this is altogether indicative of renewed prosperity. - In part, no doubt, it is the result of adjustment. Those whose income.has fallen have gradually adjusted their expenditure, and are thus able to conserve ■■■ their savings. But even,from this point of view the turn gives reason for satisfaction. The more individual budgets can be balanced the hearer is the nation as a whole to living Within its income.