Cleveland County herald., 1918-10-31
WHn 1IAlV1l U JHIL l T0BE QUIET UNTIL
 |A' LOAN |S FINISHED
 k
THRIFT CAMPAIGN IS TAKEN OVER BY FEDERAL RESERVE
 BANK, EIGHTH DISTRICT. 't
BONDS TO HAVE PRECEDENCE
How Sales Forces VIII E Operate.

3 OillCldl communication rom L0o Treasury Department Washington, D. c., was received in St. Louis that the Federal Reserve Bank has assumed 4 Ne dictatorship In the War Savings campaign. The instructions indicate that the entire War Savings issue Is to De hereafter conducted under the ju- { arisdiction of the Federal Reserve banks in behalf of the United States Treasury Department. This action was made necessary because of the resig- nation of F. A. Vanderlip as chairman CT the National War Savings Organiza- ton.
 lion. Rolla Wells, governor of the Federal Reserve Bank of St. Louis, in an interview Wednesday, stated that
 no had received definite instructions from Washington to take charge of all activities in the sale of Thrift Stamps and War Savings Certificates in the Eighth Federal Reserve District. This
 will necessitate considerable reorgani- zat1on to conform with the geographi- cal lines of the Eighth District. Here tofore the Thrift Stamp and War SAv- 1ngs campaign has been carried on
 through state directors, without regard to the geographical lines of the dis trict.
 Fourth Loan Supersedes War Savlrqs
 MT. Wells stated that 1t was too
 early to announce definite plans. but
 that the work of reorganization will be
 taken up at the close of the Fourth
 Liberty Loan campaign. He further j stated. however. that it is absolutely necessary that any aggressive selling
 campaign of War Savings Certificates cease from now until after the close of the Fourth Liberty Loan campaign.
 The War Savings county and city
 organizations are requested to cooper
 ate with the Liberty Loan Organiza.
 ton, in order that the campaign may
 be successful and that there may be no confusion in the two selling move. ments. advertisements, public meet ings and all campaigns for the aggres-
 sive sale of War Savings Certificates
 must be discontinued temporarily, in
 order that all energies may be duly
 employed in the sale of Liberty Bonds
 h fact, hereafter the two organiza. lions will be closely related under one leadership.
 MT. Wells stated that at tho earliest possible date due notice of his 3uris- diction will be given to all War Say. ings workers, but requests in the in-
 terim that this statement be given due publicity in the Eighth Federal Re serve District and be accepted as his official statement.
 Cooperation Assured.
 The state, county and city chaiYmen of the War Savings organizations have been exceedingly helpful in installing in the minds of the people the ne cessity of saving for the benefit of our nation. A tremendous amount of these securities have been sold, and the leaders of the War Savings Organiza- tion are deserving of great praise. It Is hoped that in the reorganization the good work will continue and that the services of large part of this or ganization may again be available. MT. Wells was asked if this meant that no Thrift Stamps or War Savings Certificates would be for sale during the Liberty Loan campaign.
 "Emphatically mo-" replied MT. Wells. Thrift Stamps and War Say. ings Stamps can be purchased as here tofore, but all public solicitation must cease during the conduct of the Lib. erty Loan campaign. The importance of the sale of Fourth Liberty Loan Bonds cannot be too strongly empha. sized. Six billion dollars for our na. tion Is a tremendous sum of money, and $260, 0,o0o.0a0 for the people of the Eighth Federal Reserve District Is a correspondingly heavy loan. Success can only come through the co-opera- ton of all. It is therefore vitaIly nee essary that there should be but one aggressive campaign during the period of the Fourth Liberty Loan. The great CT need of our nation must take prece- j dence."