June 26.
A. most interesting letter on the activities of the Shanghai War Savings Association, written by Mr. C, W. Porter, hon. secretary and treasurer of that body, appeared in yesterday's correspondence columns announeling. inter aria that Shanghai is to have a "War Savings Investment Week," from July 9 to 16. The Association which is nearing ils first birthday has secured £60,000 or roughly Ch.$4,000,000 during the first year of its existence. "Mr. Porter considers that while the response to the Association's appeal is by no means small it might have been con. siderably better. With that expression of opinion it is possible to agree, Considering the Voluntary War Contribution Fund has practically 7,600 subscribers, the number of 1,184, representing investors in the War pletely satisfactory. The ideal would be for the numbers to be approximately equal, but that may be very difficult of attainment, There is a distinct possibility that many Joyal Britons desire to give outright in sup-ort of the common cause, and that the dis erepaney between the two memberships arises from that most praiseworthy feeling. But it is felt that those who already give so liberally could add considerably to their efforts by investing that other money which it is believed in the circumstances they may have at their disposal, for most men gener~ ally endeavour to save more than they give away. No better investment than British War Bonds can possibly be imagined in the circumstances. The return may not be 50 great as certain other investments which are [available in Shanghai, but as a means of protection in the matter of exchange they have much to commend themselves. But, putting the purely mercenary considerations aside, the imperative need that every cent available shall go to the support of the British. war effort, whether in donations or savings justifies the call to all loyal Britons to make even greater efforts than they are at present.
The only parallel with the "War Savings Investment Week" is to be found in the jovement in Great Britain concerning the War Weapons Week." Reference hi already been made in this column to the splendid results which were then obtained. London came forward with the astonishing sum of £120,000,000 as a result of concentrated effort. Other cities and towns passed the amounts expected of them, and often multiplied them many times.' The people who have shown such sturdy qualities under the visitation of the German Luftgaffe, who have faced up so manfully to the terror which teth by night, consider money as being worth nothing unless the war is won, Britons in Shanghai must do the same thing. There have been various com~ paratively painless methods of extracting money from willing pockets which have already been used with considerable success. But the times demand more. They demand that Britons shall deny themselves some things, using the money in support of the Government either by gifts outright or in the shape of loans.
The sum of £60,000 for the first year hi already been secured. The coming drive should aim at another £40,000 so that a round lakh shall have been obtained as a result of practically a year's effort. "It should not be difficult to obtain in Shanghai for the drive is not for outright gifts but for me creased savings. It is consequently as much in the interest of supporting Britons them-to carry on the good work as it is interests of the great cause to which they and their Empire are consecrated. 'There should be no holding back because the sum required' is so small compared with the ronomical figures in which the finance of this war is expressed, "for as to river flows the stream, and as the river runs to sea," so these comparatively small amounts mount {into satisfactorily large sums in the end, Tt must be emphasized; no amount is too great; no amount is too small, Many a great oak springs from small acorns, and £40,000 may in such a war as this be blasted away in five minutes, "but that is five minutes on the way to victory which can only be obtained by the heartiest collaboration on the part of Britons in every war effort,
Text read from the printed page and cleaned; old type leaves the occasional error.