The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1919-01-28
GOVERNMENT AGENCY
FOR POPULAR SAVINGS
Widespread Willingness to Lend to
the Government Awakened
by the War.

wide government agency for popular
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:-
I'm the newly established savings
| function of the Treasury of the United
| States, it 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 a 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-
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 selfinterest for
saving and purchase of stamps, which
will be equally compelling after the
peace terms are signed.
!. 1.-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 happy personal and
national habit.
1.-The Governors Of the Federal Re-
serve Districts, each through a special
Savings Director, VIII assist in this
educational campaign and also will see
to it that War Savings Stamps are
made even more 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 it's savings activ.
tiles. The $4,000 War Savings Socie
, ties will be maintained and strength.
ened and their number rapidly in.
5 creased wherever conditions warrant.
2 District cooperation will be effected
} with other government departments
interested in thrift matters with al
schools, universities, employers, reli
gious and fraternal groups and nation
al organizations of men and women
They will be asked to assist in pro
noting the sale of War Saving
: Stamps and also in disseminating
!, ideas of individual and communit,
thrift
THAT we continue to attract small
savings Of millions of people as wei
as larger capital into government in
vestment channels, I regard as vital,
essential to our financial program
Whereas before the war the govern
1 ment was financed by some three hun
e dred thousand investors, twenty mil
5 lion people have become it's financia
partners. Such partnership must en-
gender a more intelligent interest ii
the actual operations of the govern
ment. Such popular support by al
E classes Of citizens, l regard as tn,
very essence of democracy.
Y "As an agency for Americanization
: Liberty Bonds and, particularly Thrift
! and War Savings Stamps, have beef
among the most effective erasers O
the hyphen. Ownership OF such securi
4 ties has operated strongly to lesser
the desire of many of our foreign
) born citizens to- return to their nativ,
lands, and with many more, has curbe,
restlessness and the tendency to shift
I from town to town without ever reall,
taking root. Many employers assur,
US that the establishment Of Wa
{ Savings Societies and the OWNERSHIP
of government securities thus pro
NOTED in their plants, stores and bus
t mess offices, have counteracted impor
family the tendency of their employee
e to shift from job to job. With none,
: saved through the stamps, many, hith
\ erto restless, gained the idea of buyin
homes and settling down in the com
munity.
Fer these several reasons it ha
. seemed highly desirable to the Treas
! ury to establish definite government
agencies charged with bringing horn
financially to every man, woman an
child, the idea that wise spendins
avoidance of waste, intelligent savin
! and safe investment are not alon
a good citizenship but are good bushes
e for the Individual and the communit,
"The thrift machinery being put i