ENCOURAGEMENT TO THRIFT.

Patea Mail, 19 February 1881, Page 3

ENCOURAGEMENT TO THRIFT.

Mi Fawcett, Postmaster-General, in addressing his constituents at Shoreditch Town Hall, London, said the/ would remember that a scheme was brought into operation by which the poor could entrust their pence to the keeping of the State. Any child who had a penny by which he could buy a postage stamp, could obtain free of charge from any post office a form on which this stamp could be pasted; and when the form had been thus covered with 12 penny stamps, it would be received at any of the 6000 Post Office Savings Banks as a deposit of a shilling. Short as had been the time, 83,500 of these forms or more than a million stamps, had been received. More than 58,000 new savings banks accounts had been opened by means of these forms. Not a single one of these forms had been returned in consequence of their being dirty or defaced. There were many ways in which the Post Office could make the people emancipate themselves from pauperism and charity. Although this was a time when money was generally withdrawn, yet in a single week 14,360 new accounts had been opened above those closed, representing 750,000 new depositors. This was a matter of great interest, seeing that it was an act of free will on the part of the people. By an Act passed last session it was possible for anyone who had £lO to purchase £lO worth of Funds at any of the Post-offices at the cheapest possible charges, and the interest was received by the Post-office free of all charges. This was increasing the investments in Government stock on the part of the people in the same way as they saw things in Franee. Great facilities were afforded by the Post Office for obtaining life assurance and life annuities, and he was preparing a pamphlet showing the various aids to thrift which the Post Office gave. This would be ready in the first week in January, and could be obtained free of charge by any applicant at any Post Office.