6 DECEMBER 1919, Page 2

No doubt what weighed chiefly with the House were the

considerations that there was no certainty, nor even a strong likelihood, that a great deal of money would be raised by Premium Bonds ; that a very flighty use of money would be encouraged which might be disastrous to the habit of thrift built up during the war ; and that savings now safely put away might be drawn out and dissipated in the hope of winning prizes. No one has thrown more light on the whole subject than Sir Robert Kindersley, since no man has studied the question of war savings more closely, and to his knowledge Sir Robert Kindersley adds a gift of powerful exposition. We are grateful to him for having tilted the balance of argument after all so strongly against Premium Bonds. It is said that an attempt to revive the proposal will be made, but for our part we look upon Premium Bonds as dead.