The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1919-09-06
TREASURY HEAD HAS
WAR STAMP APPEAL

An appeal to var savings societies,
in factories, and all other industrial
organizations, to put forth maxi
mum efforts t cut down the orgy
of extravagant buying now going
on in America and to speed up pro-
duction as a means of reducing the
cost of living. has been made by
William Mather Lewis, director of
the savings division of the treasury
department.
Mr.. Lewis has just returned to
Washington from a tour Of a num-
Der of the federal reserve districts.
He declares that the question of
prices is disregarded, almost, in the
demand the people are making for
commodities. He held a conference
in Boston r with the result that
chairmen and chairwomen of saw
ings societies all over the state are
cooperating with the food admins
traitor of Massachusetts,, and in
some cases acting as local represen-
tatives of the food administration.
There are 10000 savings So
~cieties active in the United States.
These are especially umerou in
the Industrial localities and the to-
tai membership of the societies ag-
gregates yer six million persons.
Concerted action on the part of
these societies to buy carefully
themselves, and to impress upon
their fellows the vital need for eff
ficient work and for moderate on
sumption, and for the regular saw
ing and safe investment or a por-
ton of their earnings would ma
t~erially check the high competition,
in buying and permit prices to de-
cline, Mr.. Lewis asserted.
Many of the societies already
are actively engaged in carrying out
the work and save" plan urged by
Governor w. p. G. Harding of the
federal reserve board.
Every sound analysis of the
present price situation" said Mr..
Lewis, leads back to confirmation
of Governor Harding's decision that
no solution of high living costs can
be reached until the country shakes
off it's present spending intoxication
and settles down to demanding the
receipt of a dollars worth of food
or material, measured by the labor
or effort required to obtain that
dollar.
Zone great trouble is that mil
lions of persons are not only spend
ing from their earnings, but from
their savings Of the past two years.
Liberty bonds and other securities
accumulated by the most worthy
patriotic sacrifice during the war,
are being cashed at a loss to pur-
chase Injuries at prices exorbitant
even for luxuries.
at is not essential that we re-
turn to the extremes of economy
that we practiced during the war,
but 1t is essential that we keep a
firm hold on the savings accumu-
lated-not only as a matter of self
ish Nprofft, but as a factor in bring
ing prices down. And 1t is abso-
lutely necessary to work regularly
and efficiently in order to produce
and distribute the largest possible
volume Of Commodities and to ex-
ercise reasonable economics in order
that money, goods and services may
satisfy the demand for necessities
rather than indulgence in luxuries.
WAR savings societies have un-
bounded opportunities for national
service along these lines. They can
do much by precept and example.
1t is in their power to increase pro-
duction and tt check waste. And
it is much to their advantage to do
this. BY denying themselves lux
uries now, and by saving and buy
ing safe securities, the people can,
after a return to normal conditions,
enjoy more and greater luxuries
and comforts. Every individual can
help materially by buying w. S. S..
and keeping them"