WEEKLY INTEREST PAYMENTS UPON WORKERS' SAVINGS.
[To THE EDITOR or THE " SPECTATOR."] SIR,—There is a . proposal before the War Savings Committee which, if adopted, will have far-reaching benefits for the homes of our well-to-do workers. It is proposed that on and after an early date next year anybody with £12 10s., or any multiple of £12 10s. up to a maximum of 4:500, shall be able to deposit his money at any post office and obtain in return a book containing fifty-two coupons of values varying according to the sum deposited. These coupons be will be able to cash weekly at any post office, and when all are cashed he will get another book for the succeeding year, and so on. The interest, 3d. weekly for every £12 10s., is fully 5 per cent. per annum. There will be no Income Tax payable, and the holding of such deposits will not prevent receipt of old-age pensions.
There is a further proposal that men aged fifty, and women aged fifty-five, might pay over similar sums absolutely to the Government through the Post Office and in return receive an annuity for life, payable weekly at a post office, of double the above benefits; namely, Gd. weekly from £12 10s. up to the maximum of weekly from £500.—I am, Sir, &c.,
Queen Anne's Mansions, S. TV. I. J. H. McEwss (Harrogate).
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