Untitled

Hokitika Guardian, 6 November 1930, Page 4

As an outcome ol a conference of Savings Benk representatives from twen-ty-seven nations held in Milan, Italy, in 1924, it was resolved to hold a “Thrift Day” annually to impress on tlio public the advantages of thrift and the value of saving betimes. The project has gone forward very .successfully in several countries, and is observed partly in New Zealand, Auckland being a centre where the occasion has very pronounced celebration. ,\s indicating the success in Auckland, it may be mentioned that since the scheme was inaugurated there in 1925, the Auckland Savings Bank has been the prime mover in the establishment of 210 thrift clubs in city workshops, factories and offices. The bank now holds deposits from nearly 5,500 members of thrift clubs, with a credit balance of about £25,000, which means an annual saving of £S,O:K). This is good work, and should be an incentive to other centres to do likewise. The value of the saving to the individual is self-evident, and might well De in goiiern I practice. From childhood most people have had ideas of thrift inculcated into their minds, hut with motley in one's pocket the temptation to spend is always present. The best way to ensure that it is not frittered away is to put it out of reach. The important part about thrift accounts is that they are easily 'accessibK whereas if easy facilities for hanking were not available for depositors a .great portion of the money which now lies in the accounts would probably have been spent. Most people will not take the bother to honk a. few shillings, hut each thrift club provides for that, and deposits are made through official collectors, whose job it is to get in {small amounts as well as large. Five years ago the scheme was extended to the schools and there are now 68 Auckland schools j with their own banks. In such cases) the teacher acts as collector. The I striking success of the scheme is reflected in the fact that, despite withdrawals, cthpflv bv children leaving schools, over 10,000 children, with

credit balances amounting to £17,000, now have accounts with the hank Inorder to impress on the children the need of the habit of saving, the bank is this year, presenting every puniV, at schools where a bank is established, with a ruler suitably inscribed. These aids are along practical lines, and indicate a well directed effort for the benefit of the rising generation. It is equally necessary that the grown, ups' should devote their attention to the same useful practice. In these days when labour is so disorganised and employment at times uncertain, a pavings bank account or other saving investment, is a useful standby, mid it Is in the cultivation of such a useful asset that employees generally would be well advised to spare rather more than a passing thought and set about making a wise provision for future possibilities.