Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-12-23
Savings Stamps Sold Would
Pay for the Spanish War
and Build Panama Canal

/ Most amazing are the figures that
tell Of the sales of the War Savings
! Stamps issued by the United States
Government. and equally as amazing
I IS the tenacity with which the inves-
1 tors III these small securities are hold.
| Ing on TO them.
The most recent authoritative state
| fnent from Washington shows that the
i total sales reached the tremendous
sum of 81, 1Gs, zoe, 900. The same state
ulent shows that OF this amount sold
the redemptions have reached a total
/ OF slightly more Than $500, 600 C.t, Or
that approximately $685. 26t).e00. or rs
per cent of the smnll sSecurities sold
! are being held by the original pur-
/ chasers.
| Figures are difficult 10 grasp unless
/ some comparison accompanies them.
/ Many OF Us Will remember when we
entered upon the war with Spain ana
trembled at the cost HAT might ao-
crue. The war debt \ left by Tile.
Spanish war approrimated $500. 0ao.-
I 0(A.
/ More of us will recall that when the
Panama Canal project was hroached
and while it was building the cost
ast0unded the world. And Nhe cost
was approximately $500 000,000.
Thus it will be seen that the baby
bonds even now held by Americans
exceeds the amount raised To prose-
cute the Spanish-American War and
/ Ia build the Panama Canal.
| Not many of US can recall the Civil
| War days, but the records show that
| IL cost the Nation 1920, 200, 600 TO
! prosecute the four years OF war in
America. And the sales of the little
War Savings Stamps in less than two
| years, and mostly after the World War
/ was ended would pay for the preserva-
ton Of the Onion.
Some people could not grasp how
the little twenty-five cent Thrift Stamp
! could grow into the more dignified War
| Saving Stamp and Increase until the
Government realized the enormous
sums necessary 10 conduct the affairs
of the Government with, and how
those making the investment were
making such tremendous savings.
The upbuilding OF the present or
ganization, which is a part OF the
Treasury Department OF the United
States. began when the War Loan Or
ganization was created at the begin
ming 0f the World War. It did not as
SURF olasuanding position until
u ! - Liberty Loan Organizations
80 completed their successful careers,
ana millions of people had learned the
lesson OF Investing in L. S. securities.
The Liberty Loan organizations
were conducted on lines radically diff
ferent from that now employed by the
Savings Division OF the Treasury De-
partment. Then there We're quotas
established, and vast sums were al
lOttea each state, county, city, tOwD.
village ana community. 4 far-reacf-
ing organization, with hundreds OF
paid workers and thousands of volul-
teers was created. and tremendous
sums of money were spent in intensive
and spectacular campaigns. They
more than realized the purposes for
which they were created, and they
paved the way for the present steady.
plodding and permanent work that ia
bearing much more fruit than the
most enthusiastic had hoped for.
In each Of the twelve Federal Re-
serve cities OF the United States there
IS now In successful operation 4 branch
OF the Savings Division of the United
States Treasury Department. The
organization OF these branches fol-
lowed the Liberty Loan organizations,
and took up the equipment. ami such
of the methods as could be utilized
rff
reduced to minimum, and the utmost
economy is observed III the conduct OF
these branches.
A campaign OF education has been
In steady progress from the inception.
but this has been so linked with the
active sale of the securities that while
the people were being taught The v0i.
unie OF sales of the securities was such
that the appropriations TO continue the
business was warranted by good bust
ness rules.
Not only has the Government been
able TO draw from the people the vast
sums needed for the Reconstruction
period, but the people have saved the
money thus invested, and millions OF
Americans in every state have been
taught the value and nece ssity of say
Ing.
Perhaps the most permanent work
and from which the Nation will profit
for many generations. is the work that
has been done, and is still being done
more and more each year, in the
schools of the country. In the Eighth
Federal Reserve District the schools
of the three states are organized and
lessons in thrift are being taught as a
part of the regular curriculum, and in
carrying the theory into practice
many hundreds Of thousands OF dol
lars in Thrift Stamps are being bought
by the pupils, who are thus taught les
sons Of thrift and finance that could
be taught in no other way.