Alma record. (Alma, Mich.) 1878-1928, 1922-04-20
KEEP YOUR WAR
SAVINGS STAMPS
WALLACE POINTS OUT DESIR-
ABILITY OF HOLDING THESE
WARTIME SECURITIES.

Keep your War savings stamps"
is what Lew Wallace, Jr., Director
of Savings, Treasury Department,
says to the people who hold such
government securities. DO not al
low these savings 10 pass into the
hands of spectators and suffer a
loss" he added. Hold them until
hey are due and the government
will pay their full face value, and
he purchasers will get all that
ne u. S. government intended they
hould receive when they invested
heir money. When cashing their
stamps the people should invest them
i'm the new Treasury savings certifi-
Gates which have taken the place OF
the War savings stamps as govern
ment securities sold in small
amounts"
War savings stamps issued III
1918 will mature in January !, 1923,
and will be redeemed at par. The
War savings stamps were issued IN
unit denominations of $5. When
purchased the first month in the
year they were sold for $4.12, and
each month to the end Of the year.
These stamps have always been re-
deemable, the redemption value in
creasing month by month in the same
proportion as the purchase price in
creased. The So stamp issued in
1918 is worth S4.63 at the present
time. Next January it will be worth
SIS, a difference of 81 cents. Drec-
tor Wallace takes occasion TO warn
holders of these stamps not TO sacrl-
flee the profit between present re-
demption prices and the par value
price which the government will pay,
even if the scalpers offer more than
the government now pays when
cashing the stamps. He believes it
is far better for the holder of the
stamps to tide over any pressing
necessity in order to receive the full
value Of the stamps, as the govern
ment intended. One great advan
tage To the purchaser of the Trea-
sury savings certificates, new issue,
he says, is that they are not trans
ferable, and the holder cannot sell
them to the scalpers as they near
maturity
at would appear that the person
who is trying to save is beset on all
sides" said Director Wallace. Those
who bought War savings stamps
were generally people of small
means, with limited savings. For
the most part they were patriotical-
~ inclined, and bought because they
wanted to help the government with
money in time of war. Many of
them Of necessity have sold their
stamps or redeemed them at the
places Of purchase. Now, those is
sued in 1913 are approaching the
period Of their greatest value, and
the ever ready sharper is trying to
shave off a part of the savings of
these people by offering them a
slight increase over the present re-
demption prices. The government
does not offer pro-rata rata redemp-
ton prices for its savings securities.
It's policy is to encourage savings;
TO induce the investor to hold until
maturity and then to re-invest. The
new issue Of savings certificates pro-
vides for redemption at any time,
paying l-2 per cent interest dur
ing the time Of investment. But
to encourage these investors to make
the best Of their savings, interest is
paid at the rate of 4 1-2 per cent
compounded semi-annually of the
certificates are held until maturity,
which is five years. Another ad-
vantage of the new savings certi-
ficate is that they are all sold at the
same price no matter what time of
the year they are purchased. They
are sold at all post offices and re-
deemed at the Treasury Department
by mail"