Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1919-01-29
GOVERNMENT AGENCY
FOR POPULAR SAVINGS
Wi1ssS read WIIjissssss - Lend to
the government Awsks0sd
BY the War.

vi<s ssysransat agency f>r popular
savings 10 torsshadowsd in An An
nssacsnsat made to-day by Garter
Glass, Secretary Of he Treasury
through Mrs r. L. Htesinsoa. Drsc
tor Of Savings for New Eagiand.
Secretary Glass, in discussing the
plans for the newly organized Saw
ings Division Of the United States
Treasury, and the special savings
function assigned to the FEDERAL Re
ser Districts. said:-
In the newly established savings
function OF the Treasury OF the United
States, II 10 believed. We will have a
thrift mechanism rivaling In the con-
veniencs the ft-Quoted methods OF
| Europe. Through It We hope to estab-
/ lish new motives for saving that will
| capitalize into a permanent national
| characteristic, the wide spread willing
| ness to save and to lend to the govern
ment awakened by the war. The ulti-
/ mate aim is to make investment in
| government securities an every day
matter with US as 1t has become 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-
CURED as a war measure, 1t is planned
especially in connection with the sale
of War Savings Stamps, TO aid in
meeting war obligations, to emphasize
asv arguments OF everyday patriot
ism. and OF individual elfinterest for
saving and purchase OF stamps, which
will be equally compelling after the
peace terms are signed.
The Saving, Division Of the Treas
ury-a group Of economists. educators.
bankers, business men and students
Of household and other thrift. has
bsen charged with leadership In de-
vsloDlng and intoxicating OF ways and
mems Of making saving happy per-
senal 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 1t that War Savings Stamps are
made even more accessible in every
community.
These district directors operating
through the headquarters savings stan
and field workers. will reach every
community through state directors and
through county and community chair
men of committees representing the
government in its savings activities.
The $4,000 War Savings Societies will
be maintained and strengthened and
their number rapidly increased where
ever conditions warrant.
District cooperation will be effected
with other government departments
interested in thrift matters with all
schools, universities, employers, reli-
gious and fraternal groups and nat
Ional organizations of men and wom
en-. They will be asked to assist in
promoting the sale of War Savings
Stamps and also in disseminating ideas
Of individual and community thrift.
That we continue to attract small
savings of millions OF people as we'll
as larger capital into government in
vsstment channels. regard as vital
ly essential to our financial program.
Whereas before the war the govern
ment was financed by some three hun
bred thousand investors, twenty mil
Hon people have become It's financial
partners. Such partnership must en-
gender a 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 Americanizatfon,
Liberty Bonds and, particularly Thrift
and War Savings Stamps. have been
among the most effective erasers of the
hyphen. Ownership of such securities
has operated strongly to lessen the de-
sire of many of our foreign born citf-
Zens to return to their native lands.
and with many more. has curbed rest
lessness and the tendency to shift
from town to town without ever really
taking root. Many employers assure
us that the establishment of War Saw
ings Societies and the ownership of
government securities thus promoted
In their plants. stores and business Of
fees, have counteracted Importantly
the tendency of their employees to
shift from job to Job. With money
saved through the stamps, many. hfth-
erto 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
I ury to establish definite government
agencies charged with bringing home
| financially tn every man woman and