WORLD SAVINGS.
SAVINGS BANK RETURNS. PER CAPITA DEPOSITS. m NEW ZEALAND HEADS THE LIST. The rapid growth of the postal savings system is evidence of its success in encouraging thrift among those classes which, ordinarily, owing to the small size of their incomes, would not patronise banks (says the Bulletin of the Department, of Industries and Commerce). Offering the security of a national guarantee, the system proves attractive to those people, especially .farmers, whose contracts with business are few. The large postal savings deposits represent an accumulation of small savings which otherwise might be unwisely invested or unprofTtably hoarded. By, putting sucli savings into circulation the system not only gives the depositors interest on their money, but has control over a fund which plays an important part in public finance, particularly in times of monetary stringency and panic.. An investigation wans made recently into the per capita postal savings deposits of various countries, and the results of this Investigation commented upon in a recent Issue of the Commerce Reports of tlio United States Department of Commerce are embodied in the following table. It will be noticed that New Zealand ranks highest as regards per capita deposits and in sixth position as regards actual volume (th;e amounts are given in millions of dollars) :
Country and date Total Per Capita of Statistics. Deposits. Deposits. IXew Zealand (31/3/>27) 237.8 169.85 Sweden (31/3/29) .. 830.0 136.10 Ot. Britain (31/12/27) 1391 .'5 29.SO Austria (30/C/29) ... 1 93.7 28.91 Netherlands (30/1/29) 130.0 17.00 Italy (31/5/29) 700.1 16.75 Hungary (3 1/5/29) .. 95.1 11.19 Japan (3l /s/29) 923.5 11.06 Franco (31/12/28) ... 330.3 8.20 South Africa (30/0/29) 32.5 4.22 Argentina (30/0/29) . 38.3 3.5 1 Poland (31/3/29) ... 01.6 3.09 Spain (3 1/3/29) 3 5.4 1.58 1 niterl States (30/0/29) 1 53.0 1.2S Egypt, (31/12/28) .... 11.0 .77 Hulgaria (30/0/29) .. ■1.3 .77 Philippines (31/12 /d2S) ■1.0 .34 Canada (31/12/28) .. 3.1 .33 India (31/3/28) 11.9 .04 China (31/12/26) .... 4.0 .01
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Waikato Times, Volume 107, Issue 17979, 26 March 1930, Page 7
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316WORLD SAVINGS. Waikato Times, Volume 107, Issue 17979, 26 March 1930, Page 7
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