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Today's post will be very short. It is about two almost similar pamphlet issued in India during WW2 persuading people to invest in various savings and war bond schemes.
There is an interesting history behind these schemes. During the first world war (WWI 1914 to 1918) the British Government needed to both reduce borrowing and to raise funds for the war effort. Consequently, the National Savings Movement was established in 1916 to encourage the British people to 'save and prosper'. The same was extended to all the British Colonies also.
The National Savings Movement grew from volunteers who were organised into Local Savings Committees, which in turn, were supported by national committees and civil servants. Savings products were sold directly to the public and the funds were sent to the government. The range of products included, saving stamps, certificates, and bonds, which were provided not only by the Post Office Savings Bank, but by other banks and financial institutions, such as building societies. The Movement was a large scale scheme to promote saving in all its forms and the local volunteers were recognised for their dedication by the issuing of 'long service awards', which were simply named 'National Savings'.
To support world war II (1939-1945) the War Savings Campaign was set up by the War Office in November 1939 and Regional Savings Committees were reorganised. War savings were not only limited to the purchase of certificates and bonds, but also used local collections to raise money for aeroplanes, tanks and any items which were urgently needed for the war effort. From 1940 onwards, local savings weeks became regular events with poster campaigns used to support the cause.
Just like WW1, the same schemes were rolled out in all the British Colonies including India during WW2. With all the Indian Princes contributing hefty amount to these, it became a huge success. More and more such schemes were rolled out in India encouraging everyone (general public) to invest in these.
Shown below is first of such single sided Indian pamphlet. It is printed in red color with text.
British War Savings Movement
BUY ---
Another one is almost similar to above one. It is printed in blue color with a bit different text.
British War Savings Movement
BUY ---
Surprisingly, there is no more "NATIONAL" keyword in later pamphlet for any of those BONDS/Schemes. And to encourage people, looks like scheme was offered in either Sterling or Rupee.
The success of the scheme enabled it to thrive in times of peace as well as war, and National Savings were still available until the 1960s. These were the foundation of Indian Saving Bonds issued by the Post Office even today.
There is an interesting history behind these schemes. During the first world war (WWI 1914 to 1918) the British Government needed to both reduce borrowing and to raise funds for the war effort. Consequently, the National Savings Movement was established in 1916 to encourage the British people to 'save and prosper'. The same was extended to all the British Colonies also.
The National Savings Movement grew from volunteers who were organised into Local Savings Committees, which in turn, were supported by national committees and civil servants. Savings products were sold directly to the public and the funds were sent to the government. The range of products included, saving stamps, certificates, and bonds, which were provided not only by the Post Office Savings Bank, but by other banks and financial institutions, such as building societies. The Movement was a large scale scheme to promote saving in all its forms and the local volunteers were recognised for their dedication by the issuing of 'long service awards', which were simply named 'National Savings'.
To support world war II (1939-1945) the War Savings Campaign was set up by the War Office in November 1939 and Regional Savings Committees were reorganised. War savings were not only limited to the purchase of certificates and bonds, but also used local collections to raise money for aeroplanes, tanks and any items which were urgently needed for the war effort. From 1940 onwards, local savings weeks became regular events with poster campaigns used to support the cause.
Just like WW1, the same schemes were rolled out in all the British Colonies including India during WW2. With all the Indian Princes contributing hefty amount to these, it became a huge success. More and more such schemes were rolled out in India encouraging everyone (general public) to invest in these.
Shown below is first of such single sided Indian pamphlet. It is printed in red color with text.
SAVE FOR VICTORY.
British War Savings Movement
BUY ---
NATIONAL SAVINGS CERTIFICATES
NATIONAL DEFENCE BONDS
2-1/2% NATIONAL WAR BONDS 1946-48
3% SAVINGS BONDS 1955-56
REGULARLY
NATIONAL DEFENCE BONDS
2-1/2% NATIONAL WAR BONDS 1946-48
3% SAVINGS BONDS 1955-56
REGULARLY
ASK YOUR BANKER FOR AN APPLICATION FORM
OR P. O. BOX 625, CALCUTTA.
OR P. O. BOX 625, CALCUTTA.
Another one is almost similar to above one. It is printed in blue color with a bit different text.
SAVE FOR VICTORY.
British War Savings Movement
BUY ---
SAVINGS CERTIFICATES
DEFENCE BONDS
INTEREST FREE BONDS
-- STERLING OR RUPEE --
REGULARLY
DEFENCE BONDS
INTEREST FREE BONDS
-- STERLING OR RUPEE --
REGULARLY
ASK YOUR BANKER FOR AN APPLICATION FORM
OR P. O. BOX 625, CALCUTTA.
OR P. O. BOX 625, CALCUTTA.
Surprisingly, there is no more "NATIONAL" keyword in later pamphlet for any of those BONDS/Schemes. And to encourage people, looks like scheme was offered in either Sterling or Rupee.
The success of the scheme enabled it to thrive in times of peace as well as war, and National Savings were still available until the 1960s. These were the foundation of Indian Saving Bonds issued by the Post Office even today.
1 comment:
fantastic post, very informative. I wonder why the other specialists of this sector do not notice this. You should continue your writing. Im sure, youve a great readers base already!
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