SAVINGS BANK DEPOSITS.
The Government has done a proper thing in increasing the rate of interest paid, to depositors in the Post Office Savings Banks. The people who avail themselves of these banks are chiefly the poorer classes, -who do not, as a rule, indulge in either speculations or investments until their deposits have accumulated. These people are entitled to a rate of interest that is consistent with the ruling price of money. From May Ist they will receive 32- per cent. This is, if anything, on the low side. TJie fact that an .increase ha s been given, however, shows that the Government is in sympathy with the workers. Had the increase been larger, the cry would at once have been raised by Opposition newspapers that the Government wa.s desirous of appropriating them oney of the workers by offering them tempting rates of interest.
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https://paperspast.natlib.govt.nz/newspapers/WAG19130410.2.14
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Wairarapa Age, Volume XXV, Issue 10713, 10 April 1913, Page 4
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145SAVINGS BANK DEPOSITS. Wairarapa Age, Volume XXV, Issue 10713, 10 April 1913, Page 4
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