Show WALTER SHEAD Savings Drives May Be Renewed THERE HERE is a lot of loose money floating around the country i JL so so much in fact that presidents of all eleven district federal federal federal fed fed- eral home loan banks and other banks are behind a move to renew savings drives on gov government bonds to help siphon off ofT the excess income which otherwise might force consumers' consumers prices still higher This fact doesn't exactly agree with some reports that thousands of people arc are dipping into savings in order to make ends meet to pay the tho grocery clothing and rent bills As a matter of fact the Presidents President's economic report said that expenditures had caught up with income an and anc many were using savings or credit to keep the home fires burning But nut the annual report of the home loan bank board Just released says savings held in the savings and loan associations In Increased Increased increased in- in creased In 1947 1941 by or per cent and brings total savings accounts to as of last December 31 31 The report shows savings are dropping It is true as compared to peak years of ot 1944 19 and 1945 5 The report indicates that in 1947 19 the American people saved 9 billion dollars as compared to billion in 1914 and I billion In 1945 There was nothing to spend money for though in those years Other savings media also showed substantial increases during the past year On the basis of figures covering life lie insurance nce companies mutual savings banks commercial banks postal savings and savings bonds total savings are arc estimated at A- A 4 A A. L. L U |