The Dallas express. [volume] (Dallas, Tex.) 1893-1970, 1920-01-10
FACTS ABOUT U. S. BANKS AND
THRIFT STAMPS.

ton from the Treasury Department
at Washington, the announcement
was made today by Dinsmore W..
Hume, Assistant Federal Director,
that the 1920 issue of Government
savings stamps, thrift stamps and
treasury savings certificates will be
on sale January list at all postoffice
and incorporated bands.
Since the beginning of the thrift
savings movement, which was adopt
ed as a national war measure but is
now a permanent peace time pro
gram if the government, savings
stamps and certificates totaling
$1,12S,4S0,731 have been purchased
American citizens of the eleventh
federal reserve district. Within the
last four months, especially, the
amount of savings placed in these
securities has been growing by leaps
and bounds and the increasing de-
mand fol- these savings securities in
dictates that January will be one Of
the largest investment months.
The Government savings securities
of 1920 will consist of the twenty
five cent thrift stamp which bears
no interest and which is used in
making small savings to apply in
exchange for the SIS savings stamps.
There is no change in the thrift
stamp. There will be the So savings
stamps which bears four per cent
compound interest and which costs
$4.12 in January increasing one cent
per month in cost until next De-
cember when the cost will be $4.2S.
The other securities are the 500 and
$1,000 registered treasury savings
certificate costs $S2.40 in January
and increases twenty cents per
month in cost; the $1,000 certificates
cost 1924 in January and increases
at the rate of So per month.
Ownership Limit $1,000
The limitation of $1,000 (maturity
value) of ownership still obtains,
which means that no person. firm,
corporation or partnership may own
in its own name more than $1,000
(maturity value) OF savings stamps
or $1,000 of registered treasury saw
ings certificates. 1t was pointed out
by Mr.. Hume, however. that per-
sons owning thousand dollars
worth of the 1918 or 1919 savings
stamps or savings certificates may
also own a like amount OF 1920
stamps or certificates.
Saving Stamp Is Red.
The 1920 securities will be sub
stantially the same in terms and
conditions as those Of the 1919 is
sue, but some alterations have been
made in the forms. The 1920 Saw
ings Stamp, for example. will be CAL
mine in color, will bear the head of
George Washington, and the size will
approximate the larger stamp used
in 1918. A change has also been
made in the terms of the 1920 Treas
sury Savings Certificate as compar ed
with the 1919 issue, in that the 1929
certificates are redeemable at the
Treasury beginning with the second
calender month after the month OF
purchase, without the ten days de-
mand requiI ed by the terms of the
1919 Treasury Savings Certificates
Postoffices are not required, how
ever, to make payment of War Saw
ings Certificates until ten days after
receiving written demand for pay
ment.
Exchange Features.
As in 1919, War Savings Certifi-
Gates of the 1920 series bearing
their full compliment of twenty Saw
ings Stamps may be exchanged fol
Registered Treasury Savings Certii!-
Gates, a series of 1920, of the 500
denomination, and owners of Wal
Savings Certificates who desire the
protection of registration are urged
to exchange their War Savings Gel
tificates for a Treasury Savings Ger
tificate, rather than to seek regis
tration of the War Savings CeItifi-
cate at q postoffice. In addition tC
its other advantages, the Treasury
Savings Certificate gives the bene-
fit of central registration at the
Treasury and the provision for pay
ment by the Treasury itself. The lat
ter provision will be of advantage
and facilitate payment in case OF
change of residence, since regis
tered War Savings Certificate car
be redeemed only at the postoffict
at which it was registered.
Two Treasury circulars are beinG
distributed which offer. beginning
January 2, 1920, a 1918 issue o.
Treasury Savings Certificates in the
$4,000 denomination, and continuing
after December 81, 1919 the issue
of 1919 Treasury Savings Certificates
in the denominations of 500 anC
$1,000 in both cases not for casl
sale, but only in exchange for 191S
and 1919 War Savings Certificates
respectively. 1t is anticipated tina
many holders of the 1918 and 1911!
Savings Certificates will find it ad
vantageous to change their holding
into Treasury Savings Certificates
whose terms and conditions are sub
stantially the same as those of thu
1920 issue. except for their earlier
maturity dates.
Other New Features.
In addition to the. advantages men
toned above in the case of exchange
of 800 War Savings c ficates fol
Treasury Savings Certificates, thes'
circulars offer other inducements il
the oppoI hnity for consolidating
holdings, and also for changing
ownership in the manner providei
in the circulars.
Holders Of one or more War Saw
ings Certificates of the 1918 or 191!
issue which bear Savings Stamps
having a total maturity value o
500 or some multiple of a hundre
dollars, i. e., 5000, $500, $500, etc.
may exchange the certificates of thu
corresponding issue. When two o
more War Saving Certificates ar
offered for exchange, each one meet
not bear its full complement o
twenty War Savings Stamps, pro
vided the total value of the stamp
aggregates 800 or some multiple o
it. In the matter Of ownership, tn
regulations provided in effect tina
the different owners. f the owners o