The Guardian And Evening Star, with which is incorporated the West Coast Times. FRIDAY, AUGUST 22nd, 1924. WANTED: A SAVING NATION.

Hokitika Guardian, 22 August 1924, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times. FRIDAY, AUGUST 22nd, 1924. WANTED: A SAVING NATION.

In (treat Britain a national Miring movement has been inaugurated. Now that a "new day” has dawned, it i.s more important than ever that thrift should occupy the fullest, attention of the people both collectively and individually. The new day will Bring ill a new order, or perhaps there will he a recurrence of other days—which may not he so palmy. Prices must fall, as the international comjictition grows, and falling prices will alfect wages to some extent —though a larger output might balance that. It lias done so in America, and the Biitish workman can do as well. But the national saving movement at Home is primarily an individual effort, and it is growing. A late English paper gives an account of one of the gatherings in connection with the movement. Tt says: “The speeches delivered at, the meeting in support of the National Savings Movement, which was held at the Mansion House, under the presidency of the Lord Mayor, were a striking testimony to a valuable work already accomplished in developing among all classes of people a sense of responsibility' for tho right tws of

wealth, and with that. < outriluit ing much towards the social and economic welfare of the nation. One of the most encouraging features nt the proceedings, to which several of the speakers referred, was the circulation of a letter received from Mr Philip Snowden (Chancellor o! the Exchequer! assuring the leaders ol the movement of his full support, and pointing out. among other advantages, that the accumulation of small savings could he made an important factor in national finance. It was also with great satisfaction that the meeting heard from Mr W. Graham, M.P. (Financial Secretary to the Treasury) that during their period of ofl'ue the present Government would extend to the movement encouragement and support. There may lie wide differences of opinion among the leaders of political thought, lint on the question of thrift and it* influence on the national wellbeing there is common ground lor agreement, and the fact that in addition to Mr Graham the meeting was addressed by Mr Austen Glinmlieilain. M.P ~ augurs well for the continued and growing success of the National Savings Movement. One point made liv Mr Graham was that the movement did not affect adversely the Post Office and the Trustee Savings Banks, which were really complementary to it. He also urged the need for people taking 11 “telescopic view” saving their money for the future rather than spending it unwisely or unnecessarily in the present. Mr Austen Clialnhorliiin. whose interest in the movement is well known, considered that tin* field was wide and the Murk great. In emphasising the main point of the Clin in ollor of the Exchequer's letter, he added that savers of money Mould also become investors of money, and would thus contribute not merely to the general recovery of national finance. but to the equipment, promotion. and development of national trade. Mr Chamberlain paid tribute to the immense value of the work which the City of [.oudoii Savings Committee and similar societies bad done when be was a Minister of tin* Crown, and be hopefully anticipated the success of their work for the conn, try in the future. Lord Islington. G. C'.M.G. (Chairman of the National Savings Commit tee) spoke of the genial organisation of the movement, and mentioned that all classes were leioguising it to be one of tlie greatest contributing causes to that economic and financial .stability which was so mill'll needed. In lii.s opinion there was room for all facilities for saving and security, and the more they bail the belter. He confessed, with a smile that the movement Mas out to make capitalists, who. hou'over. Mould make ucalth more equal in its distribution throughout the country. If the State Mas to recover it must Ik' through the instrumentality of the individual whom the movement tried to raise to a more affluent position bv bis or her own personal endeavour. Referring to the Murk of the City Savings Committee Sir William Blender. G.8.E., said it had been rather disappointing to them that among the thousands of linns domiciled in the city, the movement bad only three bundled active associations, anti in tliis connection lie made a special appeal to all business men. particularly those connected with the London Chamber of Commerce. to bring the advantages of the National Savings Movement before their employees.”