274 THE NATIONAL SAVINGS MOVEMENT 
systematic saving with a view to more but wiser spending 
becomes widespread within the United Kingdom or elsewhere, 
it will be a practical application of those economic influences 
which Alfred Marshall called ‘ One of the two great forming 
agencies of the life and character of man’. 
.(i) CONTRIBUTIONS OF THE SMALL InvEsTOR, 1914-1921 
Year 
i914 . . 
(Aug.-Dec.) 
1915 
1916 . 
1917 . 
1918 . 
1919 
1920 . 
1921 . 
Totals 
Certificates 
less 
withdrawals 
42,081,000 
$3,691,000 
02,062,000 
59,149,000 
12,955,000 
11,160,000 
201,128.000 
Post Office 
War Loans 
and Bonds 
39,961,000 
13,934,000 
51,254 000 
38,528,000 
31,518,000 
7,201,000 
5,304,000 
217,700.000 
[ncrease or 
decrease in 
Savings Banks 
deposits 
* 
1,152,000 
~ 6,456,000 
11,938,000 
5.683.000 
38,813,000 
13,541,000 
2,658,000 
3.384.000 
03.945.000 
Totals 
* 
1,152,000 
33,505,000 
97,953,000 
120.628.0000 
179,403,000 
134,208,000 
22,814,000 
13,110,000 
602.773.000 
© The figures for Savings Banks include, and for Certificates exclude, accrued interest. 
The Savings Banks deposits for 1919 include £55,110,000 on. account of War 
Gratuities to soldiers and sailors. 
(ii) SaviNes CERTIFICATES SOLD AND CASHED, 1916-1925 
1) 
Year 
1916 . 
1917 . 
1918 , 
{919 , 
1920 . 
1921 . 
1922 
1923 . 
1924 
1925 . 
Totals . 
(2) 
Sold 
A 
12,183,718 
67,010,818 
08,348,782 
79,013,449 
144.785.8311 
$2,148,948 
39,203,680 
31,547,960 
27,486,311 
36.805.637 
538.624 .614 
{3) 
Cashed 
* 
287,448 
3,135,733 
6,286,991 
19,864,618 
31.829 879 
30,959,083 
31,584,026 
32,933,018 
30,570,954 
28,421,071 
915.8792.891 
{43 
Amount 
of principal 
outstanding 
41,896,270 
105,771,355 
207,833,146 
266,981,977 
279.937.4009 
291,127,274 
348,836,928 
367,451,870 
364,367,227 
3792.751.793 
(5) 
Interest 
paid 
¥ 
11,464 
121,740 
870,737 
2 518.877 
1,866,190 
8,197,563 
7,049,044 
8,978,475 
7.015.484 
35.629 844 
(6) 
Cashed for 
each £1,000 
outstanding 
¥ 
42 
40 
84 
116 
108 
99 
92 
84 
77