The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-06-29
PRACTICE OF
THRIFT Will
HELP WIN WAR
United States Must Initiate
British, Lamont Tells
Bankers
URGES BUYING OF
GOVERNMENT BONDS
Declares Reduction of Con-
sumption Would Keep
,.Prices'Down
(By Associated Press.)

New York, June 3O-The cultiva-
ton of habit of. thrift and the in
vestment of savings in government
securities by the citizens Of this coun-
try are necessary if the war against,
Germany is to be won, Thomas w.
in an address to. the New York State
Bankers association at Lake Placid.
Follow British Example.
America unquestionably should
take advantage of England's pioneer
work and experience in this field"
Mr.. Lamont continued. In no other
way can the people realize that in
dividual. economy, thrift and saying
Of pennies, collected in units of dol
lars and invested in loans to the gov
eminent, will shorten and help win
the war.
"a committee appointed by the
British chancellor of the excheQuer
to study the question Of war finan-
cling, reported in January, 1915, that
two important objects were TO be at.
tanned: First, the reduction of general
check the rise in prices; and, second,
the raising of a certain sum Of money
for the prosecution of the war.
Assurance of Stability.
ITO accomplish these results, the
committee pointed out the need OF
certain facilities to be placed within
reach of everybody. These were:
First, simple method OF investing
savings: second, a guaranty that the
capital value of the investment would
not depreciate; third, the ability to
withdraw savings at short notice;
and fourth, the knowledge that as
high rate of interest would be paid
on the money Of the small investor
as on that of the large.
Organizing Bodies.
"The way chosen for doing this was
the setting up Of local central COM
mittees throughout the country. each
responsible for it's own area. Local
central committees are appointed for
cities towns or other municipal dis
tricts. These local committees are
organizing bodies and do not receive
money.
THE local committee is thoroughly
representative OF all classes and IN
terests in the community. including
in its membership members Of local
governing bodies. clergymen, repre-
sentatives of schools, trade unions,
religious and social clubs.
Associations Take Money
1.-The local committee organizes the
War Savings association which, in
turn, receives money and collects sub
scriptions for government securities.
a \
local, central committees is the es-
adjustment of the War Savings as
sociations. These associations are
co operative organizations for the
promotion of economy and thrift, and
for providing means whereby war
savings certificates of 1 denomina-
ton can be purchased on the install
ment plan. These certificates are is
sued by the government through the
postofflce department.
Business Disturbances.
"Of course we shall be charged with
disturbing business. Yet 1t is absurd
to talk OF business going on as usual.
when we have 100000 men subject
to war draft. subject to withdrawal
from their customary pursuits ana
turned into consumers. Already the
maxim business as usual has be-
come an absurdity.
Employment For ALL.
Business Will continue at high
pressure. but II will be business oil
rected toward one end. That end is
war. Plants which do not or cannot
adapt themselves to the manufacture
OF things which are needed are bound
to suffer. Their, workmeni will have
plenty Of opportunity for employ
ment, for the experience of our allies
has shown that 1t is a shortage Of la
bor and not a surplus of labor, that
has constantly to be met
Goods Cost Less.
eff were asked to sum up the adj
vantages in our adopting some such
plan as has been found necessary in
England, l. should mention three
points First, by concerted saving.
those things we have to buy will cost
us less than they otherwise would, In
with the government
which has first call on all products it
needs: second, an enormous reservoir
Of collected savings will be put at the
disposal of the government which
has 60 have the money and should get
IL from each one Of us In proportion
to his means: third, at the end ofsthe |
war those who have saved and in
will have laid BY share IN the best