Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-11-14
EXPLAIN NEW PLAN
FOR WAR SAVINGS
Secretary McAdoo and F. A.
Vander|ip Speak Before
National Press Club.
WAY FOR ALL TO AID U. S.

| How to aid the government win the
war and at the same time learn the
lesson of thrift, through the war saw
ings certificates which are to be put
on sale December 3. was explained last
night to the members of the National
Press Club and their guests by Secre-
tary McAdoo of the Treasury Depart
ment and Frank A. Nanderlip. chair
man of the committee which has charge
of launching apd conducting this sale.
Congress has authorized the issue of
81, 900. 00O,0 900 of these war savings GER
tificates. Under the plan devised by
Secretary McAdoo and the war savings
committee these certificates may be
purchased by any person throughout
the country as easily as postage
stamps.
The money derived from the sale of
these certificates is to be used to aid
the government in prosecuting the war
to a successful conclusion.
Secretary McAdoo described the general
plan of the war savings certificates and
called upon the people of the nation to AID
their government and at the same time to
aid themselves through the purchase OF
certificates. Mr.. Vanderlip, president or
the National City Bank of New York. who
has come to Washington to give his serv-
ices to the government in working out
the plan for these certificates, showed the
club members the actual certificates and
the war savings stamps which will be
attached to the certificates as they are
bought The speakers were introduced by
Grafton S. Wilcox, president of the club.
Plan Outlined by Speakers.
The plan outlined by the speakers for
the sale of the certificates and thrift
stamps is as follows:
Any person may invest amounts as
small as IS cents at a time at post
Offices. banks or trust companies, at
most railroad stations. stores and fac
tories and at many other public places
where accredited persons will act as au-
thorized selling agents. After the sales
begin the certificates may be purchased
at any time. At the average 1918 SELL
ing price such investments in certifi-
Gates will yield per cent interest. COM
pounded quarterly.
The certificates will be dated January
2, 1918, and will mature January 1. 1928,
or five years after date. The entire
wealth and security Of the United
States is behind them.
The tax exemption provisions of these
certificates. particularly from the stand
point of the purchaser of smaller
amounts, make the investment attrac-
tive. No person may purchase at one
time more than 500 worth or hold at
one time more than $1,000 worth Of
these certificates.
These obligations of the United States
will be evidenced by stamps of two de-
costing from s4.12 to $4.23, according
to the month in which purcha sed, and
having a maturity value of IS. and a
thrift stamp costing IS cents
During December. 1917. and January.
1918. war savings stamps will be sold
for s4.12 each At the beginning of each
succeeding month Of 1918. starting Feb
ruary /, the cost of a stamp will in
crease cent per month. All war saw
ings stamps issued during 1918 will ma
be redeemed at SIS each. The difference
between the purchas Sc price paid at any
time during 1918 and SIS represents. the
interest the government will pay the
holder.
Pays to Buy Early.
With the first war savings stamp
out expense a war savings certificate
containing spaces for twenty such
stamps. II the twenty spaces are filled
during December. 1917. or January.
1918, the cost to the purchaser will
have been s4.l2 for each stamp or ss2.4
for the filled certificate, and on January
/, 1923, the government will redeem the
certificate at 500, giving the holder a
net profit Of $3.50 for the use Of his
money.
Thrift stamps costing IS cents each are
from time to time as purchased to be af-
fixed to thrift cards, which will be sup
piled without cost. Thrift stamps will
not bear interest, but a thrift card
changed for a war savings stamp bear
ing interest at per cent, compounded
quarterly. merely by turning the card
in to the post Office. bank or other sales
hA No
tween 81 and the current price of war
savings stamp.
The privilege of surrendering a GER
tificate to the government and receiving
the cost thereof. plus interest at the
rate of about per cent. has been pro-
vided for the convenience of those who
may have bought certificates and later
on find themselves in need of their
money. 1t is hoped. however. that this
privilege will be exercised only in cases
of necessity. Upon ten days written
notice after January / next postmasters
will pay off certificates at their cost to
purchasers, plus an increase of one cent
a month on each war savings stamp on
the certificate surrendered. as shown
by table of value appearing on the
certificate. Under this plan it will be
absolutely impossible for a certificate
or the stamps thereon to Sepreciate in
value. nor can there ever Be any ques-
ton that it is worth the price shown
, thereon.
Il cannot emphasize too strongly
said Secretary McAdoo. "the wonderful
opportunity now offered to all Ameri-
; cans to help the nation through this
war savings plan. If you could have
accompanied me on the two speaking
tours I have recently made in behalf OF
the first and second liberty loans. II you
could have talked with the persons
with whom ! have talked. and II you
could have read the hundreds of letters
have received since the first liberty
| loan was offered, you would be i'm
pressed with the overwhelming impor-
lance of this newest patriotic govern
, mental savings plan. You would ap-
preciate what it means to the thou
sands of loyal Americans of small
means who are eager to serve their
country with their savings, but who are
unable to do because the smallest
denomination of the liberty bonds, $50.
was beyond their reach"
Lauds It as Investment.
Mr.. Vanderlip said that entirely aside
war savings plan appealed strongly to
him.
The first consideration in all invest
ments." said Mr.. Vanderlip. "of course,
is their safety. Could anything be safer
than something with the entire wealth
of the United States behind 1t? The
second consideration is the return on the
investment. is not $3.50 for the loan
Of $3.50 for fve years attractive enough
for any one? Finally, one always must
consider his ability to convert an in
vestment into cash on short notice.
What more liberal arrangement than the