THRIFT IN BRITAIN

Evening Post, Volume CXVI, Issue 102, 27 October 1933, Page 7

THRIFT IN BRITAIN

NATIONAL SAVINGS

MAKING FOR STABILITY

(British Official Wireless.) RUGBY, October 25. The fact that'small investors in Great Britain have holdings amounting to well over £3,000,000,000 was cited by the, President of the Board of Trado (Mr. Walter Bunciman) as one of,the sure safeguards against drastic upheavals in this country. He was speaking at a conference of the National Savings Movement, and ho declared that no ©no could say a country like Britain, in which about 15,000,000 people held such an amount, was not a very stable industrial and financial concern. Not another country in the world could show sneh a record. "I have, heard it said that ono of the reasons why we are so stable, while other Governments are tottering and falling, is due to the national spirit," he said.." There is something more than national spirit in these figures. "There is abstinence from waste. There is accumulation of savings built up from small beginnings to a larger and larger amount until now there is a great difference between the democracy of this country and abject poverty. "What with this movemont and all that is appertaining to it, and the investments which have taken place, there is very little doubt' that we need have no fear of this country being swept away in a wave of Bolshevism." Mr. Runciman was careful to emphasise that tho total mentioned belonged solely to small investors, and did not include houses fully owned or investments in industrial concerns, for any figures as regards these would bo doubtful. Of the National Savings Certificates it was intimated that one-half were owned by "small" people. The chairman of the Savings Committee said that the movement had contributed much to keeping conditions steady in difficult times and in helping British trade recovery, signs of which wore steadily increasing.