Putnam patriot. [volume] (Putnam, Conn.) 1872-1962, 1919-01-31
GOVERNMENT Agency
FOR POPULAR SAVINGS
Widespread Willingness TO Lend to
the Government Awakened
by the War.

The rapid establishment OF a nation
wide government agency for popular
savings is foreshadowed in an an
nouncement made today by Carter
Glass. Secretary of the Treasury.
through Mrs. +. 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,
eaid -
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
venienee the oft-queted methods of
Europe. Through it we hope 10 estab
fish new motives for saving that will
capitalize into a permanent national
characteristic, the wide spread 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
every day 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
similar taste for saving through gov
eminent interest yielding securities
To perpetuats this valuable habit ac-
CURED RS a war measure, ii 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 self interest for
saving and purchase OF stamps, which
will be equally compelling after tho
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.
The Governors of the Federal Re-
serve Districts, each through special
Savings Director, will assist in this
educational campaign and also will see
to II that War Savings Stamps are
made even more accessible in every
community.
These district directors operating
and field workers, will reach every
community through state directors
and through county and community
charm OF committees representing
the government in Its savings activ-
tiles. The $4,000 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 well
as larger capital into government in
yestment channels. ] regard as vitality
essential to cur financial program.
Whereas before the war the govern
ment was financed by some three hun
dred thousand investors, twenty mil
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. regard as the
very essence Of democracy.
As an agency for AmerfcanisAion.
Liberty Bonds and. particularly Thrft |
and War Savings stamps. have besn
auoonx the most effective erAsegs Of |
the Ayphen Owacrship ef such secun-
lie hes operated strougly, 70 issseu |
II. desire of many a. our foreign
horn citizens 20 return TO their native |
lsoAs. and With many more, has curhs4 |
rsstiessness and the tendency TO shin |
from town TO town without ever really
taking root. Many employers assure
ma that the establishment of War
eaysass Societies and the ownershfp
-. 0orsru mort xecur4fios thas 49,