Untitled

Hokitika Guardian, 5 November 1929, Page 4

I'uk content.on of Mr Similor Weston (.President ol the Employees’ Association) that it was* necessary for industry that there should be an accumulation of Capital in the hands of imlhiduals has drawn some warm letters of protest. The writers object to a state of society in which a lew men possess a great deal of money. Apart from the question whether such accumulations are desirable, it may he appropriately pointed out, says an Exchange, on '"llirilt Day” that all wealth does not he in a lew hands, industry is irrigated by tlie savings of the whole 01 the people. Every Savings Bank account, every building society deposit, every form of thrift, supplies capital .or the innumerable needs of the world. ■- it well known that in many companies there are a large number of small shareholders. Tiniit benefits the saver by providing him or her with a reserve which can be used in various ways—for example, to provide an income in old age—-and it also benefits the community bv adding to the common stock of capital. The thrift movement is a remarkable feature of modern times. The superficial observer, noticing crowds spending money in the shops and on amusements, might think society very improvident, but statistics reveal a wonderful capacity to save. Look at the figures for tlie separate savings banks with the great number of accounts, and at the millions that; are subscribed every year in Britain for National Savings certificates, in these times of serious unemployment. Thrift is a duty the individual owes to himself, and to the community, and it is well that attention should be drawn to it on a special day. The indications are that there will be a revival of the thrift movement. People “saved” generously in war time when money was called for through the national certificates, and that mode of raising money is still sustained liberally at Home. 'Hie zest lias gone out of the movement here, but if revived on right lines through a publicity campaign, it would be useful for tlie Government and a splendid thing for the people to set apart capital which would accrue in due season for a more opportune time. Thrift is always worth practising.