THRIFT.

Westport Times, Volume VII, Issue 1135, 23 December 1873, Page 4

THRIFT.

The last published returns of business transacted in the Post-office Savings Bank of the Colony, prove to a certainty that thrifty habits among the New Zealand colonists are keeping pace with the increased prosperity of the colony. More money is earned' and more put by for the rainy day occurring to most men once in a lifetime. But beyond this the .Government scheme of Annuities and Life Assurance has become popular as a means of making provision for declining years, or as providing, after the thrifty man has "shuffled off this mortal coil," for the advantage of his survivors. The system initiated by Mr Vogel has been in existence for three years past, and its steady expansion may be best shown by the following figures, taken from the annual report of Mr Commissioner Gisborne, who now holds chief control over the department. Up to the end of the financial year 1870, the money received amounted to £357 8s; in 1870-1, the receipts were, £7,151 8s 2d; in IS7I-2, £IB,IOO 19s 2d; and in 1572-3, £31,490 12s; making an aggregate total, up to the 30th June last, of £57,100 7s Gd saved by the people of the colony from their'ordinary expenditure. The total number of assurances granted since the department commenced operations is 2901, covering £1,085,649 ; endowments 60, covering £6500 ; annuities 17, covering £950 15s Sd. This is a cheering proof of prosperity, however outward signs of commercial briskness and thriving industry may be wanting in some few remote localities within the colony. Proof of the popularity of the Government system is also shown by the fact that beyond the proposals accepted no less than 309, representing £120,750 — were declined by the Commissioner ; as were also seven of the endowment proposals, representing £BOO. The new regulations providing for the nonforfeiture of policies on account of nonpayment of premiums, will induce many, who have before wavered by reason of fear that circumstances might not always permit prompt payment of policies becoming due, to avail themselves of the advantages the system holds out.