The Dallas express. [volume] (Dallas, Tex.) 1893-1970, 1921-01-01

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Washington, Dec. 30,--Assuring the
people of the United States that the
Treasury Savings Movement is here
to stay and that the opportunity will
be given all persons in 1921 to save
and invest through the buying of
Government Savings Securities, Sec
rotary David F. Houston of the Treas
ury Department has issued the fol-
lowing statement:
Two new Treasury Savings securi-
ties Will be issued during the coming
year, a 81 Treasury Savings Stamp
aud $25 Registered Treasury Saw
ings Certificate. The 81 stamp will
be non-interest bearing, will be bright
red in color, imprinted on a green
tint, and will bear the portrait of
Alexander Hamilton, the first Secre-
tary of the Treasury. The $25 Reg
istered certificate will be similar in
design and terms to the 500 and
$1,000 Registered Treasury Saving
Certificates, which will also be Off
cred in 1921, to, mature January l,
1926. The new 1921 securities will
supply a 81 unit for saving and
registered Government security in
$25 denomination, which can be con-
veniently purchased through the ac
emulation of the 81 Treasury Saw
ings Stamps. More important still,
the new securities will complete a
most attractive line of Government
savings securities, the 81 stamp and
Treasury Savings Certificate, and thus
place the Treasury Savings move
ment on a solid peacetime basis.
The small denomination wartime Sc
curities, the S. War Savings Stamps
in 1921 series, and the rs cent
Thrift Stamp, will also be offered
during the coming year. There is
no change in the Thrift Stamp.
Demand Growing.
Notwithstanding the reaction since
the armistice from habits of saving,
and the natural tendency during the
past year to invest funds in Liberty
Bonds and Victory notes at current
market prices, the demand for the
savings securities has continued
strong in many parts Of the country.
AS the security markets become more
settled, Treasury savings securities,
bearing interest at per cent COM
pounded quarterly, exempt from
State and local taxes and from the
normal Federal income tax, and re-
deemaDle substantially on demand,
should prove increasingly attractive,
particularly to the multitude of small
investors.
With these considerations in mind,
the Treasury is committed to the
continued sale of Government. saw
ings securities over the counter, at
postoff1ces and banks throughout the
country, should pay an increasingly
important part in the current tinanc-
ing of the Government.
To this end, the Treasury is also
committed to the continuance of the
work of the Savings Division, in
Washington and in the several Fed
eral districts. This organization en-
deavors to promote the popular pur-
chase of Government Savings Secu
rites; develops and protects the
secondary market for Liberty bonds
and Victory notes and other was is
sues of Government securities, and
unites the efforts of all helpful agen-
cies and movements, financial, indus
trial, educational, commercial and
social, in a broad savings campaign
to make permanent the habits Of
saving and investment in United
States Government securities. Its
work along these lines will be in
tensiied in 1921.
The Treasury Savings Movement
has already demonstI ated its useful
ness by its efforts to promote sound
economic conditions throughout the
country and disseminate sound eco
nomic doctrines. H. fact, the work
of the Savings Division this year,
not only in promoting the sale Of
Government Savings Securities and
strengthening the secondary market
for Liberty bonds, but in establish
ing widespread habits Of Thrift and
savings, has been frequently recog-
nized as meeting great national
need. That recognition has been
strikingly emphas ICED by the request
of great national organizations thai
the savings work be continued and
by their offers OF active cooperation
in the movement.
National Organizations GO-Operative.
The American Federation Of Labor
at its last annual convention ex-
pressed itself as heartily in favor
not only of the Government Savings
Movement but also Of Government
Savings Securities in order to provide
safe investments for the savings OF
wage earners.
Nearly every fraternal organization
of. prominence in the United States
has endorsed the Savings Movement
and many have placed their funds
in Government Securities. Individual
lodges have announced similar action
Presidents Of women's organiza-
lions have emphasized the need OF
the continuation of the Savings work
among their membership in 1921.
Beginning January 1, 1921, the ac-
tivities OF the Savings Movement
among womens organizations will
be centralized in the National oftice
of the Savings Division in Wash
ington, with more active direction OF
the savings program delegated to the
national and state officials of .he or
CARNATIONS.
uvha work nj the Savings Division