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Show ,- ' ' - - " - -r - Li i t n nflnimm mm ! WALTER SHE AD Savings Drives May Be Renewed THERE is a lot of loose money floating around the country so much in fact that presidents of all eleven district federal fed-eral home loan banks, and other banks, are behind a move to renew savings drives on government bonds to help siphon off the excess income which otherwise might force consumers' prices still higher. This fact doesn't exactly agree with some reports that thousands of people are dipping into savings in order to make ends meet to pay the grocery, clothing and rent bills. As a matter of fact, the President's economic report said that expenditures had caught up with income and many were using savings or credit to keep the home fires burning. But the annual report of the home I09.11 bank board just released says savings held in the 6,100 savings and loan associations increased in-creased In 1947 by $1,152,000,000, or 13.5 per cent, and brings total savings accounts to $9,700,000,000 as of last December 31. The report shows savings are dropping, it is true, as compared to peak years of 1944 and 1945. The report indicates that in 1947 the American people saved 9 billion dollars as compared to 22.2 billion in 1944 and 19.7 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 insurance companies, mutual savings banks, commercial banks, postal savings and savings bonds, total savings are estimated at $155,700,000,000. |