War Savings Across the Empire
by Jim Downey
The following exchange took place in the House of Commons on November 20, 1941:
Major Lyons asked the Under-Secretary of State for the Colonies whether he can indicate the arrangements that have been made for the collection of large and small war savings from all peoples throughout the Colonial Empire, either in the form of bonds or certificates; whether he is satisfied with the progress being made; and whether he can publish any figures of the results so far achieved to date?
Mr. George Hall There was manifested very early in the war a general desire on the part of the Colonial Empire to make their full contribution to the war savings programme; but in view of the many administrative difficulties in the way of arranging for the sale of United Kingdom issues of war bonds and certificates in the Colonial Empire, Colonial Governments were advised to issue securities of their own with the intention of relending the whole proceeds to the United Kingdom. It was emphasised that the terms of such local issues should conform to the declared policy of His Majesty's Government in regard to stable interest rates: the yields offered, after allowance for such factors as length of period, were to approximate to those of similar United Kingdom issues, even though such terms might compare unfavourably with those of other local issues. Colonial Governments have been supplied with copies of prospectuses and other material, including propaganda pamphlets, likely to be of assistance in their war savings campaigns, and the help of the National Savings Committee has been enlisted to maintain a regular supply of current literature to every Colony. . . . I have reason to be satisfied with the response of the Colonial Empire to the suggestions offered. Local war bonds or savings certificates are now being sold in 13 Colonial territories; United Kingdom bonds and savings certificates are on sale in Malta, where unusual conditions justified the necessary special arrangements; and the issue of war loans and savings certificates is under consideration in certain other Dependencies which for one reason or another have not so far felt able to take the step.
Subscriptions of which notification has been received up to 14th November, 1941, aggregate some £14,000,000 . . .
By the end of the war, loans to the British government in the form of savings certificates were issued in the following territories pursuant to the laws cited:
Ulster Savings Certificates (National Defence Issue)
Ulster Savings Certificates (Supplementary Issue) issued on or before the 14th day of September, 1945
Bahamas Act No. 15, 1943. Bermuda Act No. 5, 1941. Cyprus Statute Law No. 21, 1943.
Gold Coast Ordinance No. 16, 1941. Mauritius Ordinance No. 3, 1941. Nigeria Ordinance No. 7, 1941. Northern Rhodesia Ordinance No. 2. 1941. Nyasaland Ordinance No. 17, 1941. Palestine Ordinance No. 33, 1941. St. Helena Ordinance No. 2, 1943. St. Lucia (Windward Islands) Ordinance No. 18, 1941. Seychelles Ordinance No. 1, 1943. Straits Settlements Ordinance No. 33, 1940. Trinidad Ordinance No. 3, 1941.
Because the money raised from the sale of these instruments was turned over to the government of the United Kingdom, London took responsibility of redeeming them after the war.
None of these except for the Straits Settlements is mentioned in World War II Remembered.
Pictured is a 1d War Savings Stamp from the Gold Coast and a £1 Savings Certificate from Bermuda.
Editorial
Jim's report is exciting. I frequently enter material in the draft of the second edition of Remembered. I love to enter signature varieties, serial number range updates and the like. Occasionally there is a new denomination or a new issue. Rare is the need to enter a new country/colony/territory--today I entered the war savings stamps for the Gold Coast! Furthermore, the document is a blueprint for more research.
The Bermuda savings certificate is probably even more exciting--just look at it. Unfortunately, I was spoiled by previously seeing--and listing--these certificates. I thought that I knew who sent me the image of the Bermuda certificate, but I was wrong!
So, I look forward to some reports of more interesting things.
Mail Call
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Dear Esteemed MPCGram Editor,
Due to travelling and weather conditions last year I missed the solar eclipse. Now that you have a firm date for the 2025 MPCFest, would you ask Physicist Steve Feller to schedule a solar eclipse for one of those days please?
Thanks,
— John Phipps
Dear Friends,
Back in 2012, LKCA sold much of the original Dr. Greg Pineda Collection of the Philippines; this auction saw many record prices. We are now proud to offer the Dr. Greg Pineda Collection of the Philippines, Part 2, which encompasses important coins, paper money, maps, prints, and books. Part 2 is also comprised of key pieces from the Neil Shafer Collection (including a complete Naval Aviators Packet, likely the only in existence) and as well as other prominent groups. If you have an interest in Philippines numismatics and history, there will be something for you. The Pineda collection of maps and prints will be sold at a later date.
The sale is split into two sessions; session one will be currency and will take place Wednesday August 28th at 7 PM CDT.
— Lyn
Training Schedule
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Wanted to Buy [WTB] / In Search of [ISO] $10 Series 1934A North Africa silver certificate with the altered blue seal discussed in October 2022 MPCGram by Larry Smulczenski (Saturski #13) and covered in May/June 2008 SPMC article written by Peter Huntoon and Jim Downey. Please contact Andy Conroy (andyqconroy@gmail.com)
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