this is an egg and this is you it's also me in fact it's us it's all of us the story i want to tell you is about the egg and like kind of the negatives and why it's important to us this is a very special kind of eggs it's a nest egg and a nest egg is a great thing to have around you put it away and when you need it there it is it has a way of hatching out in the wonderful things like a trip abroad or a new home or a college education for the youngsters and there's a very special thing about this it's made up of united states savings bonds more than forty million americans own nest eggs like that forty million americans have chosen to put their money into u s savings bonds because they have faith in them because they believe tremendous and constantly increasing productivity we are turning out the biggest money i'm ever goods and services we are continually adding to our productive capacity to more factories and more machinery the people are at work today earning bigger take home pay than ever before in our history family income says never been higher and what's more people are confident that this prosperity is healthy and is going to continue they know that our economy has made its greatest gains in these last few years since inflation was checked and they have faith in the future theirs and the nations they show it in many ways for example look at home building last year alone over one in a quarter million new housing units were built in this country people are having more children bigger families for youngsters born in recent years of and second third or fourth thirty five billion dollars but iranian bank deposits and securities and in currency savings are increasing because americans know that the dollar is sound they are confident that they will be able to buy just as much with a tomorrow as  buy today and these savings piling up because people believe in our country's future have the effect of making that future all the more secure here is a vast reservoir of purchasing power because of it people can afford to buy goods as they need them they can plan ahead for how long for cars for many things this and turn means that industry can plan ahead knowing that there will be a continuing market for what it produces out of the savings for the mark on the financing necessary to enable us dab last industries to expand or new ones to open for business as long as people put their surplus money into sa or invest it so that it is producing more goods and services it helps keep the wheels of industry turning and helps stabilize the economy because when there is too much spending money around competing for too few goods at the price of everything goes up and the value of the dollar goes down that is why a savings are such vital importance to the nation and one kind in particular united states savings bond savings bonds are one of america's most important institutions they are not new during the war people like you and me held from thirty five billion dollars worth of evil these help to pay for the plane and munitions that were the price of victory they did a tremendous amount to absorb surplus money at a time when consumer goods were scarce money was plentiful and inflation was a constant danger then came the end of the war the experts had figured out that with the end of the war most of us would stop buying bonds and cash in those we had instead able held on to most of those they owned and went right ahead buying more they had caught on to the nest egg idea and they liked it always meant that of the two hundred seventy five billion dollars of national debt incurred largely as the cost of winning the war healthy percentage could be placed with individuals on a long term basis less need to be concentrated in commercial banks the effect was to promote economic stability today this is even more important because we must maintain great military strength currently we are spending for national defense about two thirds of the government's operating budget and this is a tremendous big year we are constantly trying to buy more security or less money and to improve our outlook for peace through diplomacy nevertheless our military expenditures will continue high when this results in a deficit it adds to the size of our national debt when there is a surplus the national debt can be reduced meantime the national debt must be managed and managing the national debt is big business interest payments on it alone amount to two hundred dollars a second twelve thousand dollars a minute it is vital that a debt of this proportion be managed to soundly so as not to upset the country's economy who owns the national debt has a lot to do with our economic stability the government naturally must get a great deal of what it needs from the nation's commercial banks but for the dollars and borrows from the banks it must exchange its own securities on these the banks can then make loans and extend credit under certain circumstances even up to five or six times the value of the securities for all practical purposes the effect of this credit extension is to increase the country's supply of money and when the supply of money begins to outstrip our productive capacity look out for trouble so whenever it can the government borrows from other sources that are not inflationary by far the most important of these are you and me and about one hundred sixty five million others like us individual citizens who are willing to lend some of their surplus money on a long term basis that excellent returns out of a total national debt of two hundred seventy five billion dollars some sixty five billion is owned by you and me and people like us and every penny of this is anti inflationary helping to maintain the sound our the sound dollar which is the basic essential of a healthy economy a lot of other investors outside the banks corp and surance companies foundations and so forth because seventy billion dollars more much of it on a long term non inflationary basis to another fifty billion is held in the government's own investment account such as social security and veterans insurance that leaves some sixty five billions that the banks own plus an additional twenty five billions held by the federal reserve system it is important that this proportion of bank ownership be kept in line if the dollar is to remain sound the best way to do this is best sell more u s savings bonds to more people that's why the united states savings bond program means so much to every man woman and child among our present standards and our new jersey purity depend on it in larger degree than most of us realize but those drain and economic matters realize that and that's why so many of the nation's business labor and agricultural leaders including bankers themselves are solidly behind the u s savings bond program thousands of banks across the land are working actively to promote the government's spawn program they sell millions of savings bonds sure because they know it's good for the nation in addition fourteen thousand companies large and small have adopted the payroll savings plan for their employees the roster of these companies is an honor all of the best in american business and industry through this plan millions of working men and women buying bonds regularly are piling up  their own security and peace of mind for tomorrow one among the forty thousand companies is the burros corporation its president john f coleman is one of the some serious believers in the benefits of the savings bond program i am convinced that the united states savings mine program is one of the most important forces in our economy making for a sound like this sound dollar is the economic man tasks and making better products and compete in the nation's marketplace we can go ahead with confidence developing new business expanding plant capacity planning for  any man who had the nest egg put away is bound to have a certain piece of mind b p will be here about his family and clear worries about the future is a happier man for one of our new electronic business machines series high speed printing and punch card accounting machine i've been buying guns on the payroll plan for about fifteen years now and i want to tell you it makes a big difference in my the economic wellbeing of the country as a whole business leaders like mr coleman hundreds of them and influential places throughout the land have helped to make the united states savings bond program the economic assets of the nation that it is today but an even greater part is been played by the thousands of volunteer workers in every state and every community the men and women who in the face to face selling in shops and mills and banks and schools and factories and offices have sold billions of dollars worth of savings bonds motivated purely by a sense of civic responsibility but from what has been done by those who have given their time and their energy more remains to be done the united states savings bond program needs our help and your help your recommendation to a fellow employee or a neighbor and mean a lot and giving if you can be sure that you are recommending one of the best investments possible you will be helping to justify the confidence of all of us and the american future the confidence backed up by the millions of individual nest eggs is perhaps the most dynamic single element in our economic life because we believe in the american future that our towns are growing and businesses expanding it is why we are owning more unpleasant our homes and having larger families more children are getting more and better education why there is more and better opportunity day by day for those growing up with your help the united states things bond program will continue making its vital contribution to the nation's economic progress helping to guarantee that our american life s endure and in wellbeing and in freedom so for the best things in your line be ready with united states savings bond