THRIFT DAY

Wairarapa Times-Age, 1 November 1943, Page 3

THRIFT DAY

AND WAR SAVINGS IN NEW ZEALAND. ADDRESS BY COMMITTEE CHAIRMAN. (Bv Telegraph—Press Association.) WELLINGTON, This Day. The objects of the International Thrift Institute and its part in international relationships were outlined by the chairman of the New Zealand National War Savings Committee, Mr T. N. Smallwood, in an address _ last night. Yesterday was International Thrift Day. “The recognition that without thrift no man has ever achieved success, nor has any nation ever become great,” said Mr Smallwood, “led to the establishment in 1924, through a meeting of 500 representatives from 30 different countries, of the institute which has resolutely continued to associate the idea of thrift with that of international cooperation. Conferences have been held, regularly in many countries and news disseminated through a publication called ‘World Thrift,’ in which appeared important articles not only of a statistical nature, but on subjects relating to the wider issues of the social welfare of all peoples.

“In the last journal of the International Thrift Institute, issued late in 1940, extracts from speeches and articles by prominent statesmen of practically every belligerent country all stressed the importance of savings schemes as sound war finance measures and as the best means of avoiding inflation. Not only did these articles originate in Allied countries, but also in Germany and Japan, where it is being continually urged that the people 'save, for belligerent Governments recognise too'that it is only by ’ such means that the arch-enemy inflation, which can strike national security as hard as more material enemies, can be controlled. “Generally speaking, these principles have been followed by New Zealanders who have supported oui’ troops in the

combat zones by never failing to oversubscribe each war loan and by recognising that spending must be curbed between war loans.” This was the purpose of the activities of the New Zealand National War Savings Committee and the 200 local committees associated with it. In the Dominion’s war savings campaign 339.000 accounts had been opened, with deposits amounting to £11,400,000, which, with sales of National Savings Bonds of £7,500,000, gave a combined total' of £18,900,000 to the end of September. ‘‘By the end of the financial year.” Mr Smallwood concluded, “it is hoped to pass the £20,000,000 mark with these savings, which are doing a double job, the first a national one, the second a personal one, but nevertheless a most practical method of winning the peace after winning the war. World Thrift Day, taken with its full significance, should remind us that a life of thrift not only lays the foundation for human happiness but makes for personal, nat- J ional and international brotherhood.”