Norwich bulletin., 1919-09-11
"LOAN SHARKS" FAIL TO
 CRIPPLE THRIFT CAMPAIGN

Sales of thrift and war savings stamps have increased not only in Connecticut but in the entire United States to such sn extent that the Con- necticut var savings committee has been assured by the treasury depart ment trough the First Federal Re servv =. ',k of Boston that the thrift movement will undoubtedly be con tinued. From time, to time reports have been circulated by loan sharks throughout New England to the effect that the treasury department was ready to abandon the thrift campaign: their purpose being to induce buyers of thrift stamps. war savings stamps and treasury certificates to part with these government securities at a loss Miss Irene OBrien. acting state direc tor. said on Wednesday that reports from all parts of the country showed that the propaga nda of the lean sharks had failed and that the thrift stamps had come to stay as a medium of in vestment particularly adapted for those who can save only in small amounts.
 July vas the first month in 1919 in which the sales throughout the United States were greater than those of the preceding month The June record was exceeded by s5ooo 900. Figures available for the first part of August indicate that the sales of last month
 
 and this in the face of the fact that schools have been closed and indus trial conditions have been somewhat disturbed.
 The increase is due not to drives or spectacular p7cthcds. but is the result of broad educational movement and high class salesmanship on the part of the war savings organizati ton.
 In Connecticut the sales fell off the first part of this year owing to the relaxation of the public interest fol- lowing strenuous wartime effort. but have been gradually improving as paign under the direction of Mrs. Richard NJ. Bissell. The work has gradually assumed the proportions of the powerful national movement with mediate pra cticaI aim Is to induce peo- pie 10 save nart of their earnings by purcha sing government securities, thus becoming capitalists themselves and assisting the government to pay its war oblisations, it's scope is broader than that and aims to increase the countrvs stock of capital by encour- aging investments in all sorts of relia- ble securities. Thrift in the abstra ct is what the government is trTing to teach every citizen of the United States. Consequently people are en- coura ged to buy real estate, insurance and conservative securities of any na- ture ard to nut part of their incom as
 
 of course. teh thrift and war savings stampS present an opportunity not otherwise avaiiable. A man would not think of putting a quarter 2 week in a savings bank. but he could huy one thrift stamp every week. and his Sav- inGs. small as they are. would earn 1-2 ner cent. for him. In moet ca Ses workman could invest consi@ era bly more than quarter a week He can do this bv rn"llirg a family budget and sewing something ea ch week through e!ir,fratinC waste and eXtrava gance in all his evne1ditures.
 IT is felt that the thrift carnnaf~n Is i'iinr a vital need today and will as- @ist in snmn rea sure i~ reducing the h 'cI, cost Of livir~ which is dl-e part " to an Hhnorn1al demand for goods ors1 sioncd h" the extravag gance of a Ia rce class If co-slIIrers. If every con s,Irner in the United States curtailed his expenses bv wise careful buvin. he would have enough every week to invest in government securities and would be none the worse for his ey nerience An editorial in the Hartford CoIrant of a few daVs ago mentioned a man 7s years old in New York who had invested more than $500 in war savings stamps in two wears out of his small earnings with a pushcart.