The Barre daily times. (Barre, Vt.) 1897-1959, 1919-08-18
CEASE SPENDING FOR LUxURIEs
Invest the Money in Thrift Stamps and
Other Government Securities.

With the prediction by high officials in
Washington that before the high cost of
living becomes lower in this country the
people must cease spending their money
for Injuries, Mrs. Francis l.. Higginson
Of Boston, director Of savings for the
first federal reserve district, in a state
ment just made public, urges the people
of New England to be more thrifty and
invest their savings in safe securities
such as thrift stamps, war savings
stamps, treasury savings certificates and
other government securities.
Mrs. Higginson says:
"The investigation at Washington Of
the high cost of living has brought to
light the fact that one of the reasons for
the present high prices is because the
people are spending money lavishly for
luxuries. 1t has also been pointed out
by prominent officials at Washington
that no relief from high prices can be ex-
pected until the people refrain from de-
manding the highest quality of every
thing and paying any price to get it.
"If every person in New England
would practice thrift for at least year
and invest their savings in safe secur-
tiles such as are offered by the govern
ment, the federal land banks and savings
banks, we should not hear so much about
the high cost of living
81 feel sure that if the people of New
England can be brought to realize that a
more conservative expenditure OF their
income will help to reduce the high cost
of living, they will gladly refrain from
the purchase of non-essentials.
"To-day this country is in need of
capital. Europe is looking to America
for money to help rebuild its countries.
This money America needs should not
be obtained through bank loans, but from
the savings of the people. This is anoth1
er great reason why the people of New
England must not waste money.
THE way to send prices higher and
higher is for everybody to cut down his
production, his hours of work, the eff
cheney of his service, and at the same
time to buy everything, or try to buy
everything, in sight There is no limit
to the height to which prices may rise
under this process.
"The way to bring prices down is for
everybody to produce more, by working
more faithfully, efficiently, honestly, and
in some cases even longer hours, and at
the same time economic in his buying.
He can economic in his buying and thus
reduce the demand for consumable com.
modities. by spending more money for
thrift stamps, Liberty bonds or by in
vesting in producers goods-that is,
tools, machinery and everything which
will tend to increase the productivity of
the country
"The cost of the war to the United
States has not been paid yet. Realizing
that the money America needs must
come from the people, the United States
government placed at the disposal of the
people of this country, through the
| United States treasury department, gov
eminent securities, known as thrift
stamps, war savings stamps and treas
ury savings certificates. These govern
ment securities are the safest investment
in the world, being backed by the rich
est and strongest country, and are al.
ways worth more than their selling price
These securities pay over 4 per cent in.
terest If held until maturity and are sold
at places convenient to everybody. They
can also be converted into cash in case
of necessity.
Il believe if the people of New Eng
land will consider this matter of thrifty
living, guard their expenditures more
carefully and place their savings in thrift
stamps, war savings stamps and treas
ury certificates, New England will have
struck hard blow to the high cost OF
living, and, as she always has before,
will lead the country in all movements
for the betterment of the individual, the
community and the country"