Connecticut western news., 1919-02-06
GOVERNMENT AGENCY
 FOR POPULAR sAvNGs
Widespread Willingness to Lend ts the Government Awakened
 by the War.

, wloe sROv0xumeut agency IoI pOpuIRI savings ia foreshadowed in an am nouncement made today by Carter Glass. Secretary of the Treasury. through Mrs. F. L. Higginson. Dirsc- 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 az- 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- lish new motives for. saving that will capitalize into a permanent national characteristic, the widespread will ingnCss to save and to lend to the government awakened by the war The ultimate aim is to make invest ment. in government securities an | 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 ernment interest-yielding securities. To perpetuate this valuable habit ac ie rIo 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 caving and purchase of stamps, which : will be equally compelling after the peace terms are signed. i, "The Savings Division of the Treas i ury-a group of economists, educators. bankers, business men and students Of , household and other thrift, has been charged with leadership in developing and inculcating of ways and means of making saving a happy personal and national habit.
 "7he Governors of the Federal Re ~ar1c Districts, each through special Savings Director, will assist in this cd rational campaign and also will see to i3 that War Savings Stamps are made even more accessible in every community.
 Those 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 164,O00 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- 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 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 vestment channels, regard as vftally essential to our financial program. Whereas before the war the govern ment was financed by some three hun drod nd IT, lion people have become its 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, I regard as the very essence of democracy.
 "As an agency for Amertcanization, 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 restlessness 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 countaracted imnor- tantly the tendency of their employees 10 shift from job to job. With money saved through the stamps, many hith- 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 ury to establish definite government agencies charged with bringing home financially to everT man, woman and child, the idea that wise spending