The Barre daily times. (Barre, Vt.) 1897-1959, 1919-01-29
GOVERNMENT AGENCY
FOR POPULAR SAYINGS
Widespread Willingness to Lend to the
Government Awakened by War

savings is foreshadowed in an an
nouncement made today by Carter
Glass, Secretary of the Treasury,
through Mrs. f. L, Higginson, Direc-
tor of Savings for New England.
Secretary Glass, in discussing the
plans for the newly organized Savings
Division Of the United States Treasury,
and the special savings function as
signed to the Federal Reserve District,
said:--
in the newly established savings
function of the Treasury of the United
States, 1t is believed, we will have a
thrift mechanism rivaling in the con-
venience the oft-quoted methods OF
Europe. Through it we hope to estab-
fish new motives for saving that will
capitalize into permanent national
characteristic, the widespread will.
ingness to save and to lend to the
government awakened by the war.
The ultimate aim is to make invest
ment in government securities an
everyday matter with us as It has be-
come with the people of France and
England.
Twenty Million Americans, through
interest in Liberty Bonds and War
Savings Stamps have begun to gain a
similar taste for saving through gov
eminent interest yielding securities
TO perpetuate this valuable habit ac-
quired as a war measure, it is planned,
especially in connection with the sale
Of War Savings Stamps, to aid in
meeting war obligations, to emphasize
new arguments OF everyday patriot
ism, and OF individual self-interest for
saving and purchase of stamps, which
will be equally compelling after the
peace terms are signed.
THE Savings Division OF the Treas
ury--a group OF economists, educators,
bankers, business men and students OF
household and other thrift, has been
charged with leadership In developing
and intoxicating Of ways and means OF
making saving a happy personal and
national habit,
THE Governors OF the Federal Re-
serve Districts, each through a special
Savings Director, will assist in this
educational campaign and also will see
to it that War Savings Stamps are
made even mora accessible in every
community.
These district directors operating
through the headquarters savings staff
and field workers, will reach every
community through state directors
and through county and community
chairmen Of committees representing
the government in its savings activ-
tiles. The $4,000 War Savings Socie-
ties will be maintained and strength
ened and their number rapidly in
creased wherever conditions warrant
District cooperation will be effected
with other government departments
interested in thrift matters with all
schools. universities, employers, reli-
glous and traternal groups and nation
al organizations Of men and women
They will be asked to assist In pro-
noting the sale Of War Savings
Stamps and also in disseminating
ideas of individual and community
thrift.
THAT we continue 10 attract small
savings of millions of people as Welt
as larger capital into government in
vestment channels, regard as vitality
essential to our financial program.
Whereas before the war the govern
ment was financed by some three hun
dred thousand investors, twenty mil
lion people have become its financial
partners. Such partnership must en-
gender more intelligent interest in
the actual operations of the govern
ment. Such popular support by all
classes of citizens, regard as the
very essence of democracy.
"As an agency for Americanization,
Liberty Bonds and, particularly Thrift
and War Savings Stamps, have been
among the most effective erasers OF
the hyphen. Ownership of such securi
ties has operated strongly to lessen
the desire of many Of our foreign
born citizens to return to their native
lands, and with many more, has curbed
and the tendency to shift
from town to town without ever really
taking root, Many employers assure
us that the establishment Of War
Savings Societies and the ownership
Of government securities thus pro-
NOTED in their plants, stores and bus
mess offices, have counteracted impor-
family the tendency of their employees
to shift from job to job. With money
saved through the stamps, many, hith.
srto restless, gained the idea OF buying
homes and settling down in the com
munity.
For these several reasons It has
seemed highly desirable to the Treas
ury to establish definite government
agencies charged with bringing home
financially to every man, woman and
child, the idea that wise spending
avoidance of waste, intelligent saving
and safe investment are not alone
good citizenship but are good business
for the individual and the community.
"The thrift machinery being put in
motion, ! am hopeful, will prove SO
popular that our present beginning
quickly will develop into the greatest