The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, 1920-09-22


represents Britain's half of the $780,
900, 900 Anglo-French loan of 1915,
Will be made up largely of the half
pennies of British school children
laborers.
These little drops of water and
little grains of sand" are being ac-
cumulated in a unique campaign for
the furtherance of British thrift, a
campaign conducted through 10000
local associations by the National
Savings Committee The work of this
committee, whose administration ex-
0ry, is a striking object lesson to
all peoples the world over. For moth
org Ink IKE R IT. esist Its feat in paying
French loan is evidence of the vast
possibilities it has found in the sys-
tematic accumulation of the nations
pennies.
Our share of the Anglo-French
loan maturing in October is, roughly,
$25o,o00 900" said the Chancellor of
the British Treasury, speaking in Par
lament April 10 last. LET US buy it
back by the sale of saving certifi-
Gates. Then, instead of owing that
sum to creditors in America, we in
this country shall be holders of our
own securities, and a burden of ex-
ternal liability will have become a
valuable national asset"
From the suggestion the present
scheme has been worked out, and it's
success is startling illustration of
the need which Britain has discov
cred for carrying over into peace
time the habit of thrift it was COM
PEELED to acquire in war time.
Britain has never had reputa-
to France, Belgium, Holland and
other continental peoples the British
have always been looked up as a
nation of easy spenders. To drill
been the deliberate and concerted
plan of what was at first the National
War Savings Committe organized in
February, 1915, and what became
with the signing of the armistice the
permanent organization which bears |
the name of the National Savings |
Committee. |
Keep Interest At Home
This organization has four objects
in view in placing at the Treasury 8
disposal the millions 1t has raised
from school Riddles and workmen for ,
the paying off of Britain's share of
the maturing Anglo-French loan. tt
has convinced Englishmen that to
take advantage of the present rate
OF exchange in repaying a maturing
American loan will effect heavy
saving in goods; that repayment now
will improve the exchange rate and
decrease the cost of imports from
Amerieai that repayment will have a
marked effect on Britain's fianeial
prestige throughout the world, and
that to divert the stream of interest
on the 1915 Anglo French loan,
amounting to s1s,590;o00 year from
ACKNOWLEDGEMENTS to the pockets of
British school children and workers
will be a sound financial stroke:
Throughout the savings campaign
which the National War Savings
Committee began In 1910 its methods
have differed widely from the meth
DDS used to raise the American Lib
erty Loan. Striking posters, flung
across the continent ana emplazene6
from every shop window in every
country town drove home Americas
appeals for the investment of it's pee-
pies savings in Liberty bonds. The
National War Savings Committee in
London, howeverszhas issued no post
ers- 1t did issue few statements of
Its aims, which consist "f about 100
words of reading matte in large
type.
Largely Personal Er Uganda.
1t depended almost entirely on
personal propaganda, for which 1t or
ganized local savings associations in
every city, town, hamlet. school, fac
tory and mining settlement in Eng
land. Wales and parts of Ireland, be-
sides several army garrison towns
throughout the Empire. The same
sort of personal campaign was car
ried on in Scotland by a Scottish
tsavings association, but this did not
come under the jurisdiction of the
national committee In London.
Lord Islington. q. C. M. G., D. s.
o., a former Governor of New zea
land, later Under Secretary of State
for the Colonies. and Under Secre-
tary of State for India, was largely
instrumental in creating the original
National War Savings COMMITTEES. AS
ISOLATED with him was Sir Robert
Kindersley, X B. E.. former Gov
ernor of the Hudson Bay Company
bord Islington is now the chairman
of tho new National Savings Commit
tee). Sir William Schooling, K b
E., and Sir Theodore Chambers K.
b. E., were also instrumental in lay
ing the ground work for the original
organization in 1915.
These men had realized early in the
war that the British. despite the ira
be the financial bedrock of the Allies
throughout the war. With this real
ization, they devoted themselves to a
campaign for educating the Britons
to the need of rigid saving, and for
severe reduction in surplus con-
sumption. At the same time they put
forward the war savings certificate
new security invented for tbs
purpose of attracting the peoples
savings ineo the Government Treas
ury.
What Savings Certificates Are
This savings certificate, designed
as wear measure but now a perma-
nent institution in British finance Il
ings campaign. 1t is purchasable for
$500, and in five years is worth So
1t can be. continued indefinitely
wthSHt NOTES xaio on f the holders part
of ten years. it's interest which is
at the rate of IA per cent, com
pounding every five years. 1t is no
subject to the daily market fluctua.
lions of Government bonds. and 4
can be surrendered at any time. Nc
interest Is paid on it if cashed with
in year after issue, but after The
expiration of a year, interest is paiC
on it to the first day of the month
of surrender.
This war savings certificate ha.
proved so ideally applicable to thu
purpose for which it invented
that 4oo.OOo,ooO. of them have beer
sold. No individual is permitted t.
take more than 500 of them, fol
they are exempt from income tai
and their effect has been to multipl,
hundreds of times over the numbe
of holders of British Government Sc
curities. In 1913 there were 345,
900 holders of British Governme en-
securities in the United Kingdom.