WAR EFFORT

Wairarapa Times-Age, 6 July 1942, Page 2

WAR EFFORT

NATIONAL SAVINGS CAMPAIGN SPECIAL STAMPS BEING ISSUED. ON SALE NEXT WEEK. It was announced today by Mr T. N. Smallwood, chairman of the New Zealand National Savings Committee, that in view of the ever increasing necessity of diverting funds to support our war plans, particularly small sums saved from current earnings; and in furtherance of his committee’s policy of providing every possible facility for saving, National Savings Stamps are to be issued and will be on sale next week.

“The present facilities for war savings comprise 3 per cent National Savings Bonds with a currency of five years,” said Mr Smallwood, “and National Savings Accounts in which deposits can be made in multiples of Is bearing interest at 3 per cent repayable on June 30, 1945. The means of many people, however, allow of their saving only small sums which they do not consider worth while or important! -■ enough to warrant a special call at a> Savings Bank to deposit in their Nai.onal Savings Accounts; and, for these people particularly, Savings Stamps will provide a new easy way of serving by saving.” Mr Smallwood added that the stamps were being issued in one denomination only—-6d—and would be on sale in shops throughout the Dominion. An attractive pocket size folder to which stamps could be affixed was being supplied to purchasers. At the option of the saver, when the forty spaces on the card had been filled, the sum represented in stamps, £l, could be deposited in a National Savings Account; when thirty-five spaces had been filled, the card (plus one penny) could be exchanged for a £1 National Savings Bond (price 17s 7d); oi* when ten spaces had been filled, for a 5s National Savings Gift Coupon.

“Many retailers already had been approached and agreed to keep ■ the stamps for sale to customers,” said Mr Smallwood, “and their keen desire, to support the scheme in the National interests was an inspiration and very much appreciated. .As a result a very large number of shops would have Savings Stamps available on Monday the 13th, when the scheme would officially open; and any further retailers wishing to co-operate in an important war effort could render valuable service by purchasing from any Post Office and holding in their cash registers, a suitable initial supply of stamps. Display material for shops could also be obtained from Post Offices.”

“Everyone must realise now that to avoid inflation, a contracting supply of goods for civilian use must be offset by a corresponding contraction ,of spending,” concluded Mr Smallwood. “Taxation for war purposes helps considerably, war loans play their part, but savings resulting from-, reducing personal spending to a minimum aie probably the most effective of all. Therefore, no matter how. small the amount' each can save individually, to save all one can is a National duty. Two Savings Stamps purchased. by every one each week from real savings would not only divert £4,000,000 to our war effort, but would also build up a tidy legacy for the savers to fulfil a constructive purpose when the war is won.”