Charlevoix county herald. (East Jordan, Mich.) 189?-1953, 1919-06-27
FACTS ON CASHINC
WAR SAVINGS STAMPS
Government Always Ready to Re-
deem Them With interest, but
1t Means a Loss in the
Earning Rate.

A considerable number of War Saw
ings stamps are being cashed In Michi-
gan. There Is nothing alarming or
illegal about this. The government In
tended that the small savings repre-
sented by War Savings stamps should
be available In an emergency.
But the War Savings organization
for Michigan points out that there is
another aspect to be considered
Cashing War Savings stamps before
the date of maturity or selling them
to a scalper below par represents
avoidable loss, thus defeating the very
object Of the stamps-the practice of
thrift.
War Savings stamps held to matur-
ity yield 4 per cent interest, COM
pounded quarterly; II cashed before
maturity the interest amounts to only
3 per cent. Selling to scalpers repre-
sents a still greater loss.
Every effort is being made by the
government this year to inject little
of real JOY into thrift. Under stress
Of war this perhaps was overlooked.
War Savings workers were carried
away with their enthusiasm. Meth
DDS of campaigning In some districts
probably resulted in some persons be-
coming unwilling buyers of stamps.
The government wants no unwilling
holders of stamps.
Many Of those who have been CASH
Ing stamps at this time may be classed
as unwilling holders. Means adopted
In some quarters to induce these to
retain their stamps have created a
panicky feeling among other holders.
Many rushed to the post Offices to
give their ten days notice. With
those who met with no "strong-arm"
methods to prevent the cashing of
stamps confidence was restored and
the next day they promptly forgot
about having given notice.
Every applicant for redemption now
receives the following letter from the
postmaster:
"Your application has been placed
on file, and your money will be ready
for you in cash ten days after the
date of your application provided your
stamps are properly affixed to War
Savings certificate issued In your
name.
"You will receive more cash than
you originally paid for any stamp
which you have held more than one
month. These stamps of course earn
interest. They, therefore, increase in
value month by month. In five years,
stamps costing from $4.12 to $423 are
worth So. In other words, the money
Invested In each stamp earns from II
cents to S8 cents, or interest at more
than 4 per cent per annum.
"Do you know, however, that you do
not have to take cash for all Of the
War Savings samps on your GER
tiflcate7
POSSIBLY at this time you do not
need all of your cash that is invest
ed In stamps. In that case l will be
glad to give you cash for any part of
them that you wish to turn into mon
ey and give you the balance In 1919
War Savings and Thrift stamps.
"On' the other hand, If you have
need at this time for all of the cash
you have invested In stamps the gov
ernment Is glad to return 1t to you,
regretting of course that circum-
e,ta A.. n
rate of interest which your money
would earn during the next few
months or years.
Doubtless. when your present
emergency is passed, you Will begin
to save again and will want to buy
more Thrift stamps and War Savings
stamps. 1t will be keen personal
pleasure to me to serve you In this
respect"