Hawke's Bay Times. PUBLISHED EVERY MONDAY AND THURSDAY. MONDAY, 1ST APRIL, 1867. POST OFFICE SAVINGS BANK.

Hawke's Bay Times, Volume IX, Issue 466, 1 April 1867, Page 2

Hawke's Bay Times. PUBLISHED EVERY MONDAY AND THURSDAY.

MONDAY, IST APRIL, 1867. POST OFFICE SAVINGS BANK.

“ Xuliii'S addlet us j urare in verba magisiri

Tardy as our Government has been in the matter of the establishment of these Savings Banks throughout the Colony, we are glad to find that a movement in the right direction has at length been maile, and that a branch of the said Post Office Savings Bankwill be opened this day, Monday, Ist April. Perhaps no movement for the encouragement of habits of thrift and economy amongst the working classes of Great Britain has been more successful than that of the Post Office Savings Bank. We have not at hand just now the detailed statistics to refer to, but we have no hesitation in saving that, from the simplicity of the system, the undoubted security of the funds, the ease with which deposits and withdrawals are made, and the sound basis on which it is established, no scheme has found more favor with that class it was especially designed to benchl than it has done, and certainly no banking establishment has ever compared with it for the rapidity which has characterised its growth until it has become one of the first banking concerns of the kingdom.

There is no reason to fear any less proportionate degree of success for it h.ere than at home; but tho Government will have to make the details of iis working principles plain to the understanding of the public. This being done, no fear need be entei laiued for the success of the institution.

Since the above was in type, we have received, through the courtesy of the Chief Postmaster here, the following notice issued by the General Government, and which we have much pleasure in laying before the public ;

I- Interest at the rate of 5 per cent, per annum is given on suras less than £200; at the rate of 4 per cent, per annum on sums over £2OO ; and in the same proportions for any shorter time on every complete £1 deposited, provided that no interest be allowed on more than £S(JI).

11. Depositors in the Post Office Savings Banks i have direct Government security for the prompt repayment of their money. 111. A depositor in any one of the Post Office Banks can continue his deposits at any other of sucli banks, and can withdraw his money at that Post Office Bank which is most convenient to him. IV. The strictest secrecy is observed with resto the names cf depositors in Post Office! iß.mks, and tht amounts of their deposits. j | V. Married women may deposit money in the! I Post Office Savings Bank, and money so deposited! i will be repaid to the depositor, unless her husband! | gives notice, in writing, ot marriage, and claims' I payment of their deposits. i VI. Money may be deposited by or on behalf of minors. Depositors over seven years of age arc treated as persons of full age, but minors under seven years of age cannot withdraw their deposits !until after they have reached the age of seveu. ViL Applications to the chief office in eacli (Province on the business of Post Office Banks, and the replies spot thereto, arc free from charge for! .postage.

The Panama alati, may be expected to arrive in Napier by the s.s. ‘ Lord Ashley,’ due here to-morrow from the South.