Omaha daily bee., 1922-01-02
Fihalrial Experts
Say s20O,OOO.oOo Is
Held byHoarders
Certificates 'of Government
Believed TO be Means of
Enticing Hidden
ra Money.
= By HOLLAND.

may be even more. is In hiding hay.
ing been boarded because az lack oi
confidence. in banks on becadse oi
distance 10 deposit ssgiiies In banks
then i may be that the undertaking
now begun by the government 10
bring forth these boarded moneys
will result in the placing in the
hands Of the government IS much
as S2Oo,0oo,oOo.
lon. and Others in wsfsl.lnsG !. have de-.
asaea tnas the Aieldsan p ople having
ssc.ooo.occ,ooo lv~1Jisrty s,ads and Vic.
soa.rds ss' s5ssra%sn, ss m.l d'SSasd sSStrol
semsar npp'a's' J. ,essa, o. Saturday; sui, De,
the Unite ~ received from the
Treasury w ut large portfolios ron-
talnins' t1govsrnment savings ser-
",sa.s' = saos yt these are meeting With
thst " - Us Sufficient understand
ing ar "1e people of the character
and o. fNnIty which these certificates
repres~ z then they will be bought in
large srlounsr. one OF the estimates
which mes. FROM Washington is that ut
least .Ivo,coo.ooo OF these certificates will
oo solhsto the paople in 1922. They have
been. so arranged that a certificate OF so
small an amount as SIS can be purchased,
or it' enc may buy a $50 or 800 GER
tifieate. II he pays SEQ he Will receive
or If he buys a SO eertlticate no need
pay no more than $40 for a $50 certificate.
or $50 fora certificate whose face value
is $40. These certificates earn interest
and that makes II, possible for The pur-
chaser OF a certificate which costs say
800 to receives325 after five years. T
But the government has gone, farther,
so that any one who has as small an
amount as a dime, can purchase with 1t
at the postoffiee ~ certificate, or stamp,
and when certain amount of these
stamps, say 81 worth, have accumulated,
these MAY be converted into certificate.
In this way the spirit OF thrift will be
made available even TO those whose earn
ings are small and whose savings are
Attractive Offers Made.
Some of the national banks having
recognized the disposition 'Aof the public.
now to practice thrift. have begun 10
which..As small a sum as 81 can be r.
ceived. and which carry. a rate Of in7
terest at 3h per. cent compounded. The
first bank TO make an offering OF that
after Christmas, 1t might seem as though
any one who has savings TO invest would
prefer. government certificate which
bears Az per cent, ,compounded, to
cent. But the proposition made by the
banks is likely to tempt some who would
not be tempted TO put their savings, into
a government security. The larger part!
Of the funds which are hereafter to. be
put into govrnment savings certificates
and into other government investing op-
portunities will Come from persons who
are timid about hanks but who know that
the government meets Its ohlieations' with
certainty. 1t is probable. therefore. that
in the. year 1s23 .we shall see = fine de-
the American people and that as gvod
understanding u sfe these opportunities
comes to pieople who are ignorant, chiefly
those who are Of foreign birth or descens.
invest them In government securities:
;, Cuba to pc Aided. 80.
President Mitchell Of the National City
bank purposts ~Niting Cuba, not for
recreation or to taise advantage AZ the
benign winter climate. but chiefly so that
he may learn at first hand what Cuba
needs IN the way-sef1aid: what Cuba can
do In the matter Of increasing trade WITH
the United States. and what is needed In
order thoroughly to develop the almost
incbneeivably7 rich natural resources of
tbs country. This visit will be 'anuther
,6roof of the fact that although Cuba is
indspendent IN name as she siS poidssaiy ts
so closeiy related 10 the United States and
so dependent upon the good will sof ths
country. that she is TO be numbered in our
AuiAliS' iSS ausA ~
receive q large loan from the United
States but. presumably, 1t is not In ref
erence to this plan that President Mitchell
is to- spend some weeks there. He rs IN
derstood to share the belief which the
late Sir William Van Horne so often and
SO enthusiastically mentioned to his friends
in New York, that Cuba, awaits only
wise direction and well justified financial
assistance in order perfectly ITO develop
her resources and she cannot do this
without both directly and Indirectly
beneftting the uniteS -states! - 80
Ia Man OF Action. - :. ~
The. newly chosen. president OF the Guar
anty Trust company is man, of action
and decision rather than OF words He
has. however departed from his custo-
mary taciturnlty. a CHARACTERISTIC IN which
there Is nothing of sdllenness, but which
Is all kindly, so that che. may speak of
his conviction that this. country is now
well on the road which leads to high
prosperity. President Potter looks for an
abundant justifica ton of his view which
will be made In the year 1922. He men
tions several reasons none Of them theo-
retical but all well established, why he is
OF the opinion that the year 1922 is
hereafter TO be identified as the IL
months. in which substantial return to
prosperity was made in the United States.
His opinion VIII go far towards justifying
the confidence many others are now ex-
pressing that we are recovering rapidly
from the aftermath depression Of the