The Guardian And Evening Star, with which is incorporated the West Coast Times MONDAY, SEPTEMBER 7, 1925. THRIFT.

Hokitika Guardian, 7 September 1925, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times MONDAY, SEPTEMBER 7, 1925. THRIFT.

Thksk nrc tin 1 times when individually thrift should be a general practice. Warnings from all sniinort art* being given of stringent times to come, hut there is no real o\ idonee of the practi.e or thrift am. ng the people. During war-time, national saving certificates were the vogue, and besides providing much needed funds for purposes connected with the part of New Zealand in the war. were a ready means at hand to practice thrift of a practical nature. There is very little Ixsing done in that direction iti the Dominion nowadays, but it is not a dead letter at Home. The Government- would he serving a useful double purpose by urging the people. to practice thrift along such lines as obtain in Great Britain. An 'English paper, referring to the subject recently, went on to remark that there is no question that the national savings certificate form of investment is one of the most profitable and attractive means of thrift, for the vast majority of the people of this country. Its growing popularity has been evidenced ever since its inception in the form of the war savings certificates in 1916. and the fact that to-day there are upwards of ‘21.000 savings associations in England and Wales, apt] that the

capital that remains invested, alter allowing for withdrawals, amounts to no less than £371.000.000. is a striking testimony to the strong appeal it has made to persons of small means, and is well calculated to gratify all who have the tinaueial and economic well-being of the nation at heart. Much of the success of the National Savings .Movement is due to the selfsacrificing efforts of enthusiastic voluntary workers, who have formed and arc forming associations in various localities. In the City of London in particular, and on behalf of the movement. generally, the efforts of Dr Waller Leaf and the keen personal interest- of successive Chancellors of the Kxcliccpicr have given a real impetus and much encouragement to the scheme. The light in which the Treasury views the Work was well stated by Mr Winston Churchill at the .Mansion House meeting. Although from the point of view of the National Kxchc<|Uci\ and tin' general reduction of the National Belli, the national savings certificate is not the most favourable form of investment that the Chancellor could desire, nevertheless, a S Mr Churchill pointed out- in piloting from a speech by .Mr Blovd George, “the State keeps many ledgers, in not all of which are purely finale ial calculations written down." If tlic Treasury, therefore, does pay a. higher percentage on savings certificates, it unquestionably receives a far greater reward in the wider dissemination of property among the people, in the cultivation of habits of thrift, and in the development of the fascination of small savings which produce some fruitful return in the feeling of responsibility which comes to those who by their own sacrifice and frugality have placed themselves in a position of independence. From this point of view, it is easy to appreciate tbc> sincere assurance of Mr Churchill that nothing that the Treasury could do to advance the National Savings Movement would he lacking. Thrift is a vital factor in the social and financial well-being of the people, and it. deserves all the stimulus possible from public authorities and departments. ft is highly satisfactory to note that in the City of London national savings certificates are gaining in popularity among clerks, office workers and warehousemen. The latest figures show that the City leads in the rate of progress throughout the country with a percentage increase of 20, which compares with only A per cent, for the tinancial year ended March 31st. Altogether no fewer titan eight million certificates have been sold through the medium of the City of London Savings Committee.