The Guardian And Evening Star, with which is incorporated the West Coast Times. Saturday, MAY 7, 1927. THRIFT NECESSARY.

Hokitika Guardian, 7 May 1927, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times. Saturday, MAY 7, 1927. THRIFT NECESSARY.

“The inculcation of thrift cannot bo urged too strongly, for the whole welfare of the community and the individual is dependent on the recognition of tins vital factor. The extension of (he hire-purchase system has led to extravagances, and is merely a mortgage on future earnings. Prosperity can never he built upon such a foundation, and the sooner it is realised tlw? better for all.” These were the sentiments expressed by Mr Alfred Bankart, chairman of trustees of the Auckland Savings Bank, in his annual addres recently. The speaker proceeded to state that a practical step had been taken by the hank this year, in eonjunction with the headmasters and teachers of the city and suburban schools, liy tiie establishment of the schools’ banks. The scheme had boon well received, and while returning no monetary profit to the hank, was functioning extremely well in the educative sense. No fewer than 5418 accounts had been opened to date at 42 schools, the total credit balances amounting to £3IOO. much of which would otherwise never have been saved. The services of the headmasters and teachers were fully recognised. and called for much commendation from parents, as well as the hank. A similar service was being rendered to the business community of the city bv the bank’s Thrift Club department. and no factory or workshop need be without a savings bank on the premises. Branches of this work had been established at 54 factories and workshops, and the total credit, of 1673 depositors was £3523. These special efforts to enforce, as it were, greater forethought in regard to habits of thrift are having their effect. Tt is noticeable that the deposits are steadily increasing with the Savings Bank, and substantially so where the rising generation are specially catered for. On the other hand the Post Office Savings Bank is not succeeding so well. This fact suggests a renewal of the former effort to endeavour to enlist the young people in the task of saving money. It is probably more

difficult to do so nowadays than in limes past. 'I here are these limes more temptation tu spend the pennies ami smaller silver coins than ever existed before. Pleasures ami amusements are more rife, and the opportunities 1.0 indmlge in them are blazoned forth at every turn. Parents, ton, siueiimli very rondiK m indulge in the daily nllcring of amusements, front which in many emit res. even a. Sunday is not now exempt. New Zealanders take their pleasure, very gladly—that is they are already patrons ol all forms of amusement amt great travellers. These tilt mot ion- pleasures and travel it re special enemies to thrift. and with parents and the older.'. generally so prime to participate, there is little wonder that the rising generation are rendv to imitate their seniors as far and as fast as they can. It would he well therefore for more to he beard and said about thrift. New Zealand is having a difficult time ius( now, and more difficult days are said to he ahead. Many of those passing through the stringency will lie realising that greater tlirifliuess would have saved them less inconvenience nowadays. The value of thrift, will appeal to them, so that the present i-- a very opportune time to talk thrift, and seek to instill habits for Ihriftincss ill the minds of the young people particularly. Old folks who have come to years of discretion dumb! he inking the lesson well to heart., and he ready to pass it on to those rnming after them. The value of thrift is very pointedly shown by the results of small savings as disclosed hv the Savings Bank returns. The account in those hunks may not exceed £‘J(K) and he interest hearing. Yet there are many accounts open, and small savings week liv week or month by month, are making a noticeable increase in the funds, which are accumulating. The money is interest earning for the benefit of the depositor, and at. the periodical balances the account receives the benefit of the accrued interest. The actual growth of these accounts of the peoples' savings is the host guarantee for the future, and it would ho well if the rising generation acquired the saving habit as early as possible in life. This is, perhaps. a twice told tale, but the reilults moan so much that it. is well to toll it again and invito all and sundry to participate ia measures of thrift without undue delay.