The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1918-11-29
w. S. S. ExTRAvAGANCs.

NO extravaganza Is mOTe lldSIdHI
than that which dissipates not only
the earnings of the day but also
throws to the winds the savings OF
yesterday. Financiers and econom-
lists tell us that the future strength
of America depends upon the ability
Of the people to develop a habit of
thrift which will keep well distributed
the wealth of the country, so that
there will never be sharp distinction
between class holding the money
resources and another class possess
ing nothing save its potential power
to produce. 1T has been the division
Of populations upon this basis that
has wrought the destruction of Euro
pean countries such as Germany and
Russia.a France is great nation be-
cause since the creation of the re-
public the poverty stricken peasant
class has been eliminated.
The sale of War Savings Stamps
by the American government had the
double purpose of raising funds with
which to finance the war and at the
same time planting the seeds for the
growth Of spirit of thrift that has
long been lacking in the characteris-
ties of the American people. Both of
these aims will be missed if tend
ency to liquidate stamps already paid
for aad to stop payments on stamps
pledged that is said to have started
is not checked Immediately.
Pledges to purchase War Savings
Stamps we're bona fide obligations to
the government and are subject to
fulfillment under stress of the law il
necessary. The people of Maury
county who pledged themselves to
buy these stamps were fulfilling their
obligations promptly up to the time
hostilities ceased and most of them
have congratulated themselves upon
their business perspicacity in doing
SO. but since it now seems that the
war has ended many OF them have
grown lax in their payments. Others
thinking the war is over have rushed
to the postoffice and have taken adj
vantage Of the proviso that the stamps
could be cashed after 10 days notice.
Both OF these Practices are wrong.
The government needed the money
raised by these sales for five years,
or it wiuld never have stipulated that
length of time for the loan. The pro-
viso for their quick liquidation by the
purchasers was made in order to pre-
vent any possible hardship that might
be caused by the inability of the own
ers to dispose of the stamps quickly
in an emergency, and for the further
purpose of stabilizing the market
value of the stamps and preventing
their accumulation in the hands of
spectators who would have preyed
upon the ignorant and bought the
stamps for cash at much less than
their value.
If the present issue of War Savings
Stamps should be largely liquidated
now, it would simply mean that the
government would have to reimburse
itself by another issue of stamps or
bonds to take the place of those CASH
ed by the postoffices.
: The Herald urges all owners of War
Savings Stamps to hold them until
their maturity, when they will have
accumulated at compound interest
and be tidy savings for all who have
held tC them. They are as sound as
any form Of security or money issued
by the United States government. I
They pay. higher interest than the or
binary savings bank or the Postal Saw
ings Banks. They are money makers
and money savers. Hold fast to them