WAR SAVINGS CERTIFICATES

Hokitika Guardian, 14 December 1929, Page 2

WAR SAVINGS CERTIFICATES

NO SHORT CUT TO PROSPERITY. LONDON, October 18. “To those who say that this Old Country is down and out 1 reply ‘Look at the figues of the National Savings movement.’ Mr J. H. Thomas, Lord Privy Seal, in this manner, at a luncheon given by the Lord Mayor to members of the London Region Conference of the National Savings movement, drew attention to the fact that the sale df National Savings certificates continues at the rate of over 1,000,000 a week. An examination of the figures of national saving of all descriptions, he added, clearly demonstrated that the idea that a handful of capitalists dominated this country was exploded. That was why the Government was grateful to them for their work.—(Cheers.) Major-general Seely mentioned that up to two days ago the sale of savings certificates continued at the rate of 1,000,000 a week, and was increasing The figures for all the savings institutions in the country showed that the less well-to-do portions of the population owned £1,888,000,000 which work-1

ed out at £44 per head of the population or £2OO per family. Through the agency of the National Savings moveanient a great porportion of the people now owned the houses in which they lived. In the case of Swindon well over half the population lived in houses that they owned, largely due in the first instance to the taking up of National Savings certificate.—((Cheers.) “There is no short cut, or artificial means to prosperity,” declared Mr Thomas. “This nation’s foundation was built upon our ability to sell our goods to the world, and any artifical attempts to solve the unemployment problem must fail unless they keep that fact in sight. This great National Savings movement enables us in n hundred and one ways to get on with our job. . “I suppose that everyone will realise, my difficulties as a Labour Minister in addressing an essentially capitalist gathering.—(Loughter) There will be the usual placard indicating that ‘Thomas has gone over to the enemy.’ But T am unrepentant. I believe this is a gathering to which the Government and the nation are entitled to say. ‘We honour you and we wish you Godspeed and the nation are entitled to , ‘ We ho,nour you and we wish you Godspeed in your work.’—(Cheers.) It is fashionable to join in a general condemnation of everything associated with the : war. Fortunately this gathering is in '• the happy position of being able to say

■: ‘here at least is a war product worthy 1 1 of preserving.’—(C'heers.) But if it ■ were necessary in the stress and turmi oil of war to encourage national savings, it is doubtedly necessary to-day. “Notwithstanding all that people may read of our trulls and difficulties, no other 10 nations in the world combined can show for the year ending .March last a sale of 52,000,000 Savings Certificates, representing IMI ,000,000, and a total amount, through the mod-, him of Savings Certificates, of £400,000 000.—(Cheers.) Whatever these figures may be in millions boiled down in actual practice is the fact that there are millions of homes in this country where the housewife, with all her trials and difficulties is consoled with the knowledge that when the troublesome days come she has a little something that often the old man knows nothing about.”—(Loud laughter.) TAXI COMEDY. Remarking that lie did not knowj whether a Labour Lord Privy Seal | would propose a similar toast next year, Mr Thomas added: lf l am afraid j I am suffering for my title.. Not very many days after I took office I took I a taxi to the Treasury. As I opened "the door an attendant rushed out and : said, ‘All right my Lord.’ FortiinateI ly the taxi driver knew me and said, ' “Lord he damned, it’s Jimmy Tho-i-inas.”—(Loud laughter).