The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1919-01-29
GOVERNMENT AGENCY
FOR POPULAR SAVINGS
Widespread Willingness to Lend to
the Government Awakened
by the War.

wide government agency for popular t
savings is foreshadowed in an an
nouncement made today by Carter :
Glass, Secretary of the Treasury, 9
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, it is believed, we will have
| 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 a permanent national |
characteristic, the wide spread 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
similar taste for saving through gov
eminent interest yielding securities
To perpetuate this valuable habit ac
CURED as 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
I household and other thrift, has been
charged with leadership In developing
and intoxicating of ways and means of
{ making saving happy personal and
i national habit
] THE Governors of the Federal Re
s serve Districts, each through special
/ Savings Director, will assist in this
educational campaign and also will see
5 to it that War Savings Stamps are
! made even mora accessible in every
i community.
'arhese district directors operating
through the headquarters savings staff
2 and field workers. will reach every
T 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
r creased wherever conditions warrant.
Of District cooperation will be effected
e. with other government department.
y interested in thrift matters with al
schools, universities, employers, reli
\ gious and fraternal groups and nation
r. al organizations of men and women
a They will be asked to assist in pro
t' noting the sale of War Savinj
= Stamps and also in disseminating
>, ideas of individual and communit
=, thrift
RS That we continue to attract smaI
t savings of millions of people as wei
al as larger capital into government in
u vestment channels, | regard as vital
a. ~ essential to our financial program
~ Whereas before the war the govern
ment was financed by some three hun
= bred thousand investors, twenty mil
l.
n partners. Such partnership must eu
IL gender a more intelligent interest i
80 the actual operations of the govern
= ment. Such popular support by a
classes of citizens. l regard as tn
very essence of democracy.
As an agency for Americanizatiol
Liberty Bonds and, particularly Thri
and War Savings Stamps, have bee
among the most effective erasers ,
the hyphen, Ownership Of such secur
ties has operated strongly to Jesse
the desire OF many of our foreig!
born citizens TO return to their natl,
lands, and with many more, has curbe
restlessness and the tendency to shi
from town to.town without ever real
taking root. Many employers assn,
US that the establishment of w;
- Savings Societies &nd the ownersh
of government securities thus Dr.
NOTED in their plants, stores and Blu
mess Offices, have counteracted impo
family the tendency of their employee
an. to shift from job to Job. With mon,
saved through he>stamps, many hit
erto restless, gained the idea of buyil
homes and settling, downsin the cor
munity.
Fer these several reasons it h
seemed highly desirable to the Urea
ury 10 establish definite governme
agencies charged with bringing hon
financially to every man, woman a.
st. child, the idea that wise spendir
avoidance of waste intelligent saw,