Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1919-02-05
Government Agency
FOR POPULAR SAVINGS
Widespread Willingness to Lend to
the Government Awakened
by the War.

| through Mrs. +. l.. HigglnSon, Dlrec-
tor of Savings for New England.
Secretary Glass, in discussing the
plans for the. newly organized Saw
ings Division of the Ulited States
Treasury, and the special savings
function assigned to the Federal Re
serve Districts, said .s-
''In the newly established savings
function of the Treasury of the Uni
ted States, it is believed, we will
have a thrift mechanism rivaling in
the convenience the oft-quoted meth
DDS of Europe. Through it we hope
to establish new motives for saving
that will capitalize into a permanent
national characteristic, the wide
spread willingness to save and to
lend to the government awakened by
the war. The ultimate aim is to make
Investment in government securities
an everyday matter with us as 1t has
become with the people of France and
England.
Twenty Million Americans,
through interest in Liberty Bonds and
War Savings Stamps have begun to
gain a similar taste for saving
through government interest yielding
securities. To perpetuate this valu-
able habit acquired as war meas
ure, it is planned, especially in con-
nection with the sale of War Savings
Stamps, to aid in meeting war obliga-
| tn bo oil 70
Of everyday patriotism, and of in
dividual self-interest for saving and
purchase of stamps, which will be
equally compelling after the peace
terms are signed.
"The Savings Division of the
Treasury-a group of economists,
educators, bankers, business men and
students Of household and other
thrift, has been charged with leader
ship 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 a spe-
cial Savings Director will assist In
this educational campaign and also
will see to 1t that War Savings
Stamps are made even more acces-
sible in every community.
These district directors operating
through the headquarters savings
staff and field workers, will reach
; every community through state direc-
tors and through county and COM
munity chairmen of committees rep
resenting the government in its say
ings activities. The $4,000 Wal
Savings Societies will be maintained
and strengthened and their number
rapidly increased wherever conditions
warrant.
District cooperation will be effected
with other government departments
interested in thrift matters with al
schools, universities, employers, reli
gious and fraternal groups and nat
} ional organizations Of men and WON
Y en-. They will be asked to assist II
promoting the sale of War Savings
t Stamps and also in disseminating
\ ideas Of individual and communit,
i. thrift. t,s ,...-.. eff. .4...-e, . .
THAT we continue to attract small
D savings of millions of people as vel
: as larger capital into government in
S vestment channels, regard as vital
ly essential to our financial program
Whereas before the war the gov
eminent was financed by some thre,
hundred thousand investors, twent,
million people have become its q
: nancial partners. Such partnership
must engender a more intelligent in
: terest in the actual operations of Oh.
d the government, Such popular SUD
J.. port by all classes Of citizens, re
!. gard as the very essence OF democ
racy. a.- a.... 49, ,r. -n
AS an agency for Americanization
d Liberty Bonds and, particular,
h Thrift and War Savings Stamps, hav,
been among The most effective erasers
+ of the hyphen.- Ownership of sucl
securities has operated strongly t,
lessen the desire of many OF GU
foreign-b born citizens to return I,
Is their native lands, and with man,
D more, has curbed restlessness an,
l. the tendency to shift from town I,
town without ever really taxing root
i. Many employers assure US that tn,
establishment Of War Savings Socie
ties and the ownership of govern
h. ment securities thus promoted |,
/. their plants, stores and business of
- fees, have counteracted Important,
the tendency Of their employees t,
shift from job to job. With none,
: saved through the stamps. many
hitherto restless, gained the idea O
buying homes and settling down 1,
the community.
For these several reasons It ha
seemed highly desirable to the Treas
ury to establish definite government
agencies charged with bringing HON,
financially to every man, woman ant
child. the idea that wise spending
$ avoidance of waste, intelligent saw
Ing and safe Investment are not alon,
good citizenship but are good busi