Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-07-26
.MILLIONSNOW in
POSTAL SAYINGS
Certificates for Investment,
Paying 4 IL Per Cent,
In Demand
SYSTEM DEVISED
TO END BOARDING

~ Under the United States Govern
ment saving system. recently adopt
"a. ed approximately SIS 100000 has
been saved and invested in the
Treasury Savings certificates during
: the first six months Of this year by
the people Of this country. OF this
large sum. the people of the Third
!. Federal Reserve District comprising
as counties of Eastern Pennsylva-
MIA. nine counties OF Southern New
81. Jersey. and the State Of Delaware.
are credited with over 100000,
cash sales.
Under the present Government
. Savings System, which is an out
growth Of the wartime thrift and
savings campaign. the securities
!, available are postal savings and the
new issue of treasury savings GER
tificates; the first offered for deposit.
the second for investment.
. The underlying idea OF this plan
IS to increase thrift and savings.
and TO provide safe and profitable
a means for safeguarding the peoples
money. particularly OF those who
have not yet formed the habit of
dealing with financial institutions.
II also aims TO draw money that is
not in circulation but lying idle in
The risky hiding places, and there
fore. 10 prevent boarding.
Postal savings stamps. 10 cent de- !
nomination, non-interest bearing, |
/, and postal savings deposits. from 81 !
10 $500. interest bearing. are Of
fered for deposit under this system. |
Generally. postal savings appeal to |
those who do not have banking con- |
nection. or are not keenly interest
ed in the rate Of interest received, ]
but have implicit faith in the Gov /
eminent and desire to place their /
savings with the Government for an
: indeterminate period usually until /
such time as they desire to purchase |
home. enter into business, etc. The
' funds may be Withdrawn on demand
at the post Office where deposit Is I
made. and the account may be /
: transferred without cost between
post offices. Likewise postal savings
deposits may be applied at any time
. TO the purchase Of treasury savings
certificates. in which event they
yield interest evenN though with
. drawn within less than a year.
Treasury savings certificates, on
the other hand. are offered TO those
who are interested in securing a
fair rate Of interest on their money
and the absolute guarantee Of its
safety. These certificates are in de-
nominations Of SIS, 500 and $1,000,
sold on a discount basis at the fiat
prices OF $50, $50 and $500. They
bear interest at the rate Of 4 y per
, cent. compounded semi-annually,
mature in FIVE years from date Of
purchase, are registered in every
case 10 protect the owner against
lSss or theft, and are exempt from
Vtte and local taxation (except es-
Tie and inheritance taxes) and from
the normal Federal income tax. In
case OF need the money may be had
on demand.
These certificates may be regis
tered IN the name OF and held by
individuals: each member Of finn,
CORPORATION, partnership. associa-
ton or joint-stock companies. rus
tees. two persons in the alternative.
payable TO either person or to the
survivor, infant or infants guardian.
DeneuclarleSs lndl IS uelu ny uit
person and upon his death payable
to another. Each one is entitled 10
own up TO $1,000, maturity val e.
during one calendar year.
This system offers an ideal oppor-
tunity for savings and investment
for the people Of all classes, particu-
larly those of moderate means"
stated George +. Lloyd, Director OF
savings for the Third Federal Re
serve District of which Delaware is
a part The certificates are grow
ing very popular all over the coun-
try. People who never dreamed OF
letting their surplus cash go out Of
its hiding place put their funds
into this form of securities because
It absolutely guarantees their
money which never depreciates but
always grows. When l come to
think Of II, I do not know Of any
country in the world offering a
better system for savings than the
United States. both through this sys-
TEN and its excellent banking"