The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1920-01-08

TO FIGHT HIGH COSTS
WITH SAVINGS WEAPON
War Loan Organiz"tion Of Fifth Pod.
eraI Reserve District Will Con-
tinue to Develop Thrift and
Savings Plan.


Vigorous assistance in the move
ment to reduce the high cost Of liv-
ing through encouraging sane spend.
ing, will be given by the War Loan
Organization Of the Fifth Federal Re-
serve District in 1920, according to an
announcement made from Richmond,
Va, by Albert s. Johnstone, director
for this district, which includes the
State Of South Carolina.
with the foundation Of the govern.
ments savings movement firmly laid
and with a full knowledge Of the tre-
mendous benefits which inevitably
follow when the principles Of thrift
are adopted, the United States Treas
ury Department will continue to push
the movement" Director Johnstone
said.
"The War Loan Organization OF this
district has enjoyed the cooperation
of many able citizens" the district d.
rector continued. Numerous banks
and mercantile and industrial estab.
Eshments have rendered whole-hearted
assistance while newspapers Of the
district, by their patriotism and gen.
erosity, have accorded a service Of
inestimable value.
Spending, Saving and Investing.
1T will be the policy Of the War
Loan Organization Of the Fifth Fed.
eral Reserve District during 1920 to
continue to emphasize the Importance
Of spending wisely, of saving regular.
ly and Systematically, Of investing in
sound securities. It will endeavor to
find or create new markets for gov
eminent securities, and to point out
to investors the attractiveness of Lib
erty Bonds and Victory Notes, particu-
larly when bought at market prices.
Also especial emphasis will be given
to the savings movement which is
now popularly identified with War
Savings Stamps and Thrift Stamps.
"A point to be mentioned, but which
no longer needs to be emphasized, IS
that thrift does not mean miserliness.
It means getting your moneys worth;
it means the elimination OF waste; it
means saving on what you do not
need; it means the steadfast refusal
to buy useless luxuries; it means the
most efficient use Of all natural and
acquired resources; It means safe
guarding against unforeseen emergen-
cies for the future.
Total Exceeds Billion.
Through this thrift movement, be.
gun in December 1917, the govern
ment has marketed to millions Of pur.
chasers savings securities to total
exceeding s1,121, 100000. Despite the
falling off in interest on the part Of
the public in these securities follow
ing the armistice, the sales began to
increase last summer, showing that
the efforts Of the treasury to stem
the tide Of extravaganza and develop
habits Of saving were beginning to
bear fruit.
"The development Of this savings
movement during recent months has
been very encouraging. Since the be-.
ginning Of the present school year,
more than 5000 savings societies
have been organized in the schools Of
the Fifth Federal Reserve District. In
many school rooms and grades every
child is a member Of Savings So
ciety having agreed to save systemat-
ically and invest his savings in Thrift
and War Savings Stamps. How much
this movement means potentially IL
suggested by the fact that during the
last two weeks in October children in
the public schools in Baltimore alone
saved $23,600, investing tho whole
amount in these securities.
Upwards OF 1000 woman's organi.
cations throughout the district have
been actively enlisted in studying
budget-making, promoting thrift among
their members and associates, shop
ping more carefully, and in these ways
fighting campaigns in behalf Of syste-
matte saving and wise investment in
government securities in more than