The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-12-15
without limit

k1,u..tc4. no .s'ut UaS yeen p.,,C2d
D, ,nc EU,>gu.urH, ul lie nunO=r "
...,...,.,.,..,,.s ,..a. IL - ..Susu 10 IL"
p.S,.a: a =, 49," t-.p~Sn an thc'N'uGai
: .:Ir.,-I - r-,',v ArslH. as oo!eC'
- ~. -, s.> L.Ysv UaH. and tc"st con-
G4.e., ,rual o.l.uS all tae SeStlGattS
,u:,L the 60 V'e"ai"cnt may lSsAe' ru.
n-v.Uo.- thr Iu' rCumeHt 'nSeAdS ="
ytavd tao persons o. large Incoiue o.
,,,,. ..iss,.au,e Uf another I! pe OF tre1s-
r;ry r.r,..ca;e Wh.rA bears a straisl't
iaLCrc. ate ,oc snort periods Ike SIX
mUult,> u three ears.
me development oi 50, crnment poury
IN >nIs direction - ~ 90 SradaaL ouS
'or .ne moment tie pIan - 10 eoncen-
:ratc On the Sw'all uNeSt"r ana teaCH
In, the value OF the new thrift IDEA.
Ike go ernment Will thus laAe ca . oi
auou, OQ.OpQ. coo worth OF 1918 treas
W! certificates whEol mature aoout 4"
- ear hence Iad To that extent the pro-
III rorundaE. Five months late. thrHe
and Lai, billions q; Victory tCaa
hoads Will mature. but that's too Lag
an issue 20 rs'!re through sraal. tari:t
certlhc&ces Some new treasury certIh-
,.Css os large qeuominHtlUn VIII nave
20 ye issued and these IN turn may be
rr,.red through Ihe smaller certlncates
IN otne" words. the retunding process
= IN an experimental state and the
treasury Will know more about the oes'
slSG OF rellT'0S NthNTiCa = OeotS d S~N
Ia uep issue OF certificates mas been
ressi,cI Icy the general pubic
No "ssune' Campaign
% stunt ran,psISa or Cashy .acUcs
~. 0e u4,I = Seil.oS the new cert!h =
rat.I as the goNeSnnlent 'S Depending
=. ,,uu the 0rsss, the postpir.ces ana IN"
2auAy % - the Srrss' irfeStor Nn""
-,,,. taa np2ort',n.t,. \ disa!aed effor'
m Q "A
~ vssIh tite small nv estor and Il is felt
b., ,tr government ;hat security hds
rser = r'ul, cd wA!ch gives the sma. u
iego-:" rs good chance as the dig
5e',nv" or attractive govcrnnent seSur-
l.e>.
OU.v.sis say there IS 20 especial re-
.,t,ursi.lp between the announcement o.
ne new issue o. treasury CERTIFICATES
~: MccA aad the fact that Liberty
bonds go back a taelr original par
oc-; WORKING "r ,h" mex. plan ever
-,,,,,, D.. vas q pTarenr that LIBERTY bonds
zee starting. back 10 par. The pSN-
biological value. nevertheless. OF an
G,o.ueut waer LIBERTY bonds touched
a. s appreciated So many small in
,.ns.o-s bought l.ibsrt" bonds without
SHoW,uz :hat r'a-ket alHeS could cause
t'ter: 20 drop "a prlCe nat INC govern
:;rH, now is benefited b. being able %
non tSc y lr Ectte o. p'lGuS d. pE''.
o' tie original promises of the govern
r,..s. StG the treasury has had 70
,.ke TITO account that many investors
disapp"in'cd b. their experience With
T!harI, oordS. might be cold toward
20, eronea: iavrStments unless gwen
a. absnlut" guarantee o. tIe par value
~ xr~':r'tv. The new certificates can
70, C..' in %alUe. The" are redeemed
whence ~ investor needs money ann
ne SustaiHS NJ losS at aII--'n Tact no
- ~
20 a CONTINUOUS sale. moreover. OF these
r--tiHcates. The date OF purchase does
mot AFFECT the value as was the case
with war savings stamps.
View Investors
The new process doesn't increase the
public ueOt but rather rediStrlbutes II
The IntentioH IS 10 create an army o;
new nSeStors. touching a class "AtcN
rnlzhl NOT otherwise De disposed 10 save
The number Of plans 70 be used II re
tlriag the VA debt as IA whole "i.l con
,iauc 70 increase from time u time IN
order that all classes or investors may
re reached. But In general the govern,
r.ent has embarked on policy thai
foohs toward the gradual -et!remea: o'
tina ytr debt by borrowing from the
public al stated intervals and onSett1nS
fhess borrowings by gradual accumuia'
IONS OF surplus from taxes and imports
IN other words, the government must
20 or he assurNp:ion that Europe can
20, pay America ten billions OF war
deb. ard that n anything IS paid in the
crescent generation. T. Will 20 that OK
'eat ease the burden and curta!l the nee
eSs!tv r0r borrowing. The people ~
America ~ therefore finance their gov
eminent by lending II money from time
20 time until collections from regular
sources OF revenue can bs p!led up.
some opposition from small saEtng'
.rst!tut'ors = anticipated. but govern
-nent officials Insist that the effect n
mo end veil, De 70 help savings banks
ANYTHING that encourages saving, IL il
,,oT,sndeh will help the general bus!
ness OF Investment