The Bridgeport times and evening farmer., 1918-05-11
PATRIOTIC ACT
 IS BUYING OF
 THRIFT STAMPS This City Has Sold Half Million Dollars Worth of
 Government Bonds. MONEY BACK IN
 FIVE YEARS TIME Times Reporter Interviews Chairman Hincks of War
 Savings Committee.

The most patriotic act which any stay-at-home can perform, according to William T. Hincks, chairman of the Bridgeport War Savings commit tee, is to buy War Savings and Thrift Stamps. MT. Hincks, as head of the War Savings committee, has been con- ducting campaign for the sale of War Savings and Thrift Stamps in Bridgeport which has resulted in Bridgeport selling half a million dol lars of these little government bonds, and which has placed Bridgeport easily in the lead of any of the cities of the state in the aggregate amount of sales.
 You see," said MT. Hincks to rep resentative of The Times, Ion this ltst Liberty loan work the full amount of the subscription has not been reported ] yet, but where it is known that it will surely run to $4,000, ,000,000, the gov 1 ernment has to provide interest on | $4,OO0, 100000 every six months, and this means $170,00O, 900 per year. Not just at this moment, perhaps, but a little later in the war, if the financial situation gets more strained and money is more difficult to raise, this matter of interest will be a great bur- 1 den upon the government which is | forced to pay interest while the war is on.
 ''1n the case of War Savings Stamps, however, the payment of the interest is postponed until January, 1923, at which time the holder of the War l Savings Stamps receives all of his in- terest in a lump; and during all of the l five years that the War Savings Stamps have to run, the government l has the use of the money which the purchaser has paid in and has not been compelled to raise at an incon- venient time any money for current in- terest; although it has had the use of the purchasers money all the time.
 "An added consideration also is that the purchaser of the War Savings Stamps ultimately receives compound interest because the increase in value of the stamps as January, 1923-the date of their payment-approach is equivalent to 4 per cent. interest | compounded quarterly. Now, if a per- son cashes a coupon on a bond, he | gets only simple interest and not compound interest The holder of the coupon must invest it immediately if he is to have compound interest, and it is hardly practicable for the average person to get this money invested im- mediately. So, the War Savings Stamp in furnishing automatic com- pound interest is giving to the holder l something that no other security gives him.
 We have no thought in mind of discriminating at all against the Lib erty Bond, but merely of pointing out the advantage of the War Savings Stamp. It sums up, therefore, that the purchaser of War Savings Stamps renders great service to the govern ment in not obliging it to provide cur rent interest and he also confers great benefit on himself by having security which bears compound interest. In view of these considerations, the law provides that no one purchaser may own or hold more than s1,000 worth of these War Savings Stamps. Were it not for that provision of the law, un- doubtedly many large investors and corporations would own great num- bers of them. It is obvious from this provision that the great bulk of loans made by our government must be fur nished by Liberty Bonds, but the very general appeal of the War Savings Stamps now so much in evidence all over the country is resulting in the government getting what used to be considered a very large amount of money, namely $2,O0O, 100000, before the year 1918 is over. Now-a- days the average office boy has but little regard for $1,00O, 900, ,0o0, because we have become accustomed to talking in these large figures. Nevertheless, such a sum will be handy to the govern ment in the prosecution of this war, and it will inevitably serve to bring about the greatest result sought for by these War Savings Stamps, namely, the habit of seIf-denia1 and saving on the part of our people and the release of labor and material from non-essen- tial industries to be used in those in- dustries that are vital for winning the war"