During the 1st International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy. The Italian Professor Filippo Ravizza declared this day the "International Saving Day" on the last day of the congress.
World Savings Day, or World Thrift Day as it was also called, was established to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress.
A theme often used throughout its history is saving money to gain a higher standard of life and to secure the economy. Examples include in Spain where the first national thrift day was celebrated in 1921. In other countries such as Germany, society's confidence in savings had to be restored since the turmultuous German monetary reform of 1923.
After the Second World War, World Thrift Day continued to thrive. Today, countries all over the world continue to celebrate the day.
Hymn of Thrift
There is a rhythm to life. There is also melody.
The "Hymn of Thrift" brings both to life.
For 90 years, the WSBI hymn has touched the lives of people around the world, both young and old. That's why WSBI commissioned in 2018 to resurrect this musical gem and share it with attendees in November that year during the 25th Congress of Savings and Retail Banks held in New Delhi, India.
The 2018 recording: Piano and soprano
A way to promote the virtue of thrift, the hymn’s uplifting melody and intricate piano phrasing was first written and performed in 1928 with Italian lyrics. The hymn came back to life on 13 June 2018 by a pair of Brussels-based musical artists: Colombian-born opera soprano Amalia Avilia and Italian pianist Caterina Roberti.
Hymn history: "Inno del Risparmio"
The “Inno del Risparmo”, translated in English as "The Hymn of Thrift", is a red thread that binds WSBI and its members both in the past and today. This musical treasure was composed and published by Italian composer Giuseppe Pietri with lyrics by Gino Valori. At its debut in 1928, the intent was for it to be sung and broadcasted at that time over the radio by a choir of children on World Savings Day, then called “World Thrift Day”.
The hymn forms an important musical element to the WSBI-led World Savings Day that takes place annually on 31 October.
Listen to it on SoundCloud.