The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1922-04-18
KEEP YOUR WAR
SAVINGS STAMPS

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"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
allow these savings to pass into the
hands of spectators and suffer the
loss," he said. "Hold them until
they are due and the government
will pay their full face value and
the purchasers will get all that the
government intended they should re-
ceive when they invested the money.
When cashing their stamps the peo-
pie should invest them in the new
treasury savings certificates which
have taken the place of the war
savings stamps as government Sc
curities sold in small amounts"
War savings stamps issued in
1913 will mature January 1, 1923,
and will be redeemed at par. The
war savings stamps were issued in
unit denominations of IS. When
purchased the first month in the
year they were sold for $4.12 and
the sale price increased one cent
each month to the end of the
year. These stamps have always
been redeemable, the redemption
value increasing month by month
in the same proportion as the
price increased. The SIS stamp is
sued in 1918 is worth $4.63 at
the present time. Next January
it will be worth IS, difference
of 81 cents. Director Wallace takes
occasion to warn holders of these
stamps not to sacrifice the profit
between present redemption prices
and the par value price which the
government will pay, even if the
scalpers offer more than the gov
eminent now pays when cashing
stamps. He believes it is far bet
ter for the holder of the stamps
to tide over any pressing necessi-
ty in order to receive the full val
ue of the stamps, as the government
intended. One great advantage
to the purchaser Of the treasury
saving certificates, new issue, he
says, is that they are not transfer
able and the holder cannot sell them
to the scalpers as they near ma
turity."
at would appear that the person
who is trying to save is beset on
all sides, said the director. "Those
who bought war savings stamps
were generally people of small
means, with limited savings. For
the most part they were particu-
larly patriotic 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
issued in 1918 are approaching the
period of their greatest value, and
the ever ready sharper is trying
to shave off part Of the savings
of these people by offering them
a slight increase over the present
redemption prices. The government
does not offer pro rata redemption
prices for its savings securities.
Its policy is to encourage savings
to induce the investor to hold until
maturity and then re-invest. The
new issue of savings certificates
provides for redemption at any time
paying three and one-half per cent
interest during the time Of invest
ment. But to encourage these in
vestors to make the best of their
savings, interest is paid at the rate
of four and one-half per cent, COM
pounded semi-annually if the GER
tificates are held until maturity
which is five years. Another ad-
vantage of the new savings certifi-
Gates is that they are all sold at
the same time no matter what time
of the year they are purchased.
They are sold at all post offices
and redeemed at the treasury de-
partment by mail"