The War Savings Organisation throughout the country should be continued as a permanent part of our national machinery

It was hoped that savers would continue in the habit adopted to help the war effort.

War Savings Certificates

It is the earnest desire of the Government that the War Savings Organisation throughout the country should be continued as a permanent part of our national machinery.

The War Savings’ Organisation now comprises 1,830 Local War Savings’ Committees, which, for propaganda and organizing purposes, cover practically the whole country; 41,500 War Savings Associations for the co-operative purchase of War Savings’ Certificates; and 14,000 Official agencies for the sale of Certificates and War Savings’ Stamps. Altogether there are to-day nearly 200,000 voluntary workers engaged in administrative work connected with the movement. The figures do not include units working under the Scottish Committees.

The development of the habit of saving has been one of the most marked features of War Conditions in this country, as is evidenced by the fact that the number of holdings of Government Securities has increased from 345,100 on the opening of hostilities to over 17,000,000 to-day. In order still further to encourage this habit, it has been decided that, subject to the necessary legislation being obtained, holders of War Savings’ Certificates shall, on the maturity of those Certificates, have the right to extend their term for a further period of five years, in which case they will increase in value at the rate of 1d. per month until the end of this second period of five years, when a bonus of 1/- will be added. The value of the Certificate purchased for 15/6 becomes £1 at the end of five years and 26/- at the end of ten years, and during the whole period of ten years the Certificates can at any time be cashed. This right of extension attaches to all Certificates already issued and, until notice of its withdrawal is given, to those issued in the future.

Wargrave parish magazine, January 1919 (D/P145/28A/31)

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