Mr. C. W. Porter then addrested the meeting on the special Shanghai War Savings Association drive and spoke as follows:
It Is just a year today since the fofmces. of the Shanghai War Savings Astociation were opened to receive contributions for investment in War Loans and today the sum of £3,658. 109 was remitted, covering contributions for the month ending June 25. This brings the total remittances for the complete year to £61,470.188. The whole of this amount has been invested in London In 2% per cent. National Way Bonds and thereby lent to the Brith Government, The number of contributors to this amount up to and including yesterday is 1.185, and an appeal is being made for a big increase in the number of contributors. Included in this number are 48 contributors from Chefoo, who have contributed £2.- }679.18.6, and there have been contriuljons "from Hankow, Tientsin, Kuling and other towns in Chit The boys of the Cathedral School are contributing through their Headmas-{ter and in the four months since they: have started Ch.9162440 has been contributed by them. The girls of the Cathedral School are starting 10 do the same from next month. The committee feel that the number of 14185 isa very small percentage of the number it ought to be.
While there sre certain War Loans obtainable in. England showing a bigger return in interest than 2% per ent.. it must be pointed out that the purchase of many of these does hot give the British Government new "money. but only transfers. the holding of one party to another. Investments in" 2% per cent. National War Bonds" actually Jgives new money to the Government, Gnd also holdings in this investment are not limited, nor is it necessary to have individual registra applies to Savings Certificate: and [3"per cent, Defence Bonds.
Assistance of British Banks t_must be remembered that the British banks in Shanghai are prepared to make advances to subseribfers. in case of emergency to the extent of 80 per cent. of the amount that may be standing at any time at the credit of a subscriber in the books of the Association. By tis arrangement 80 per cent. of the vestment of any' contributor is immediately placed at his disposal at fany time it may be necessary for him to have the use of it.
You will, no doubt, have read the notifications which have appeared in the press regarding the War Savings Investment Week.
'The committee of the Shanghai ]war Savings Association wish press on all members of the British Empire and also. all other members of "Allied Nationale, the great duty which we all are' called upon to Undertake at this time.
Great battles cannot be fought and won without money. and in the War Savings Investment Week, which will Be put into operation from July. B to July 16, inclusive, we wit all given a part to play by the exjereise of our personal sacrifices and personal duties towards the cause of freedom and right—a_ cause which cannot be lost, but which can only
Text read from the printed page and cleaned; old type leaves the occasional error.