TO SPEND OR TO SAVE ?
This year's speeches of the bank chairmen will be followed more closely than ever for the light they throw on current problems as well as on the position of the banks themselves. First among the " Big Five " chairmen to give us his views, Mr. Edwin Fisher, of Barclays, points the moral in Ito uncertain terms that it is now the plain duty of the goad citizen to save and not to spend. Whereas in the early days of war, when many influences were causing loss of ea ployment, such advice often raised doubts, as each day passes the need to avoid a rigorous curtailment of private expenditure becomes less important. As this banker en? phasises, more and more of our labour force is beast absorbed in the fighting services and more and more Of 0111 industrial organisation is diverted to the production
(Continued on page iii)
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