The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1920-12-10
two new SECURITIES
ISSUED NEXT YEAR BY
U. S. TREASURY


lnas Movement on Peace Basis.
CDmpiellhs tso nne eo,~.--~---
savings securities and placing the
treasury savings movement on Solo
peace-time basis, Dtwo new treasury
savings securities will be issued dur
Ing the coming year, saysS recent an
nouncement from Secretary Houston
The new issues ~'ill be 81 Treasury
Savings Stamp and . SIS Treasury
Savings Certificate, The 81 stamp,
which will be non-interest bearing. lie
TO be bright red in color and to bear
the portrait Of Alexander Hamilton,
first Secretary of the Treasury. The
325 certificate will be similar in de
sign and terms to the 500 and $1,000
Treasury Savings Certificates which
will also be offered in 1921, to mature
January I, 1926.
The new securities will supply 81
unit for saving, and q registered gov
ernment security in the SIS denomina'
tion which can be conveniently pur
chased through the accumulation OF
the 81 stamps. The small denomina'
ton wartime sseurities-the IS War
Savings stsmp, in 1871 series, and
the Is cent Thrift stanp-Nill also be
offered during ahe coming year, ~ will
the registered Treasury Savings Ger.
tincates in 500 and $1,000 denomina'
tions.
Demand Continues Strong.
Notwithstanding the reaction since
the armistice from habits Of saving,
Secretary Houston said that the de-
mand for savings securities has con-
tinued strong in many parts OF the
country, and that he believed that as
the security markets become more set
tied treasury savings securities bear
ing interest at 4 per cent. compounded
quarterly, exempt from state and local
taxes and from the normal federal in
come tax, and redeemable substantial.
ly on demand, should prove increasing.
ly attractive, particularly to the null
titude of small investors.
With these considerations in mind
the Treasury is committed to the con.
tinued sale Of government savings Sc
curities, and feels that as time goes
on sales Of savings securities over the
counter, at post ofIices and banks
throughout the country, should play
an increasingly important part in the
current financing Of the government.
To this end, the Treasury is also
| committed to the continuance Of the
work Of the Savings Division, in Wash.
Ington and in the several federal re-
serve districts. This organization en-
deavors to promote the purchase Of
government savings securities; it de.
velops and protects the secondary mar.
ket for Liberty Bonds and Victcry
Notes and other war issues Of govern.
ment securities. 1t also Inites the ef.
forts OF all helpful agencies and move
ments, financial, Industrial, educa-
tional, commercial and social, in a
broad savings campaign to make per-
manent' the habits Of saving and in
vestment in United States Government
securities. Its work along these lines
will be intensified in 1921, the savings
organization for this district, with
headquarters in Richmond, Va, direct
ing activities in Maryland, the District
of Columbia, Virginia, West Virginia,
North and South Carolina.
Organizations Cooperating.
Requests that the savings work be
continued and offers Of active coop.
Grafton in the movement have been
received from national organizations
Including the American Federation of
Labor, nearly every fraternal organiza.
ton of prominence in the United
States, and presidents Of women's or.
ganizations. The work Of the Savings
Division has also been splendidly sue.
cessful in the schools.
In response to the demand, the Saw.
ings Division will intensity during 1921
its campaign to spread broadcast the
essential facts relative to wise saving
and spending and investment, and the
continued development of new capital.
The savings. securities to be offered
have also been shaped to meet these
needs. The 81 Treasury Savings Stamp
and the $25 Treasury Savings Certiti'
cate come as a result Of work carried
On in the great industrial plants of the
country. This campaign demonstrated
that workers like 81 unit for saving
and that they are seeking an invest
ment security Of the $25 denomination
The 25 cent Thrift Stamp and the S.
War Savings Stamp, which have
gained strong foothold in the
schools of the nation, will be con
tinued during 1921 in order that every
American youth may have the opIor
tunity to become an active partner in
the business of his government.
The 1921 War Savings Stamp Of S.