The Hartford republican. (Hartford, Ky.) 18??-1926, 1922-04-21
KEEP YOUR WAR
SAVINGS STAMPS

Washington, April 15.-"Keep
your War savings stamps" is what
Lew Wallace, Jr., Director of Savings,
Treasury Department, says to the
people who hold such government Sc
curities do not allow these saw
! ings to pass into the hands of specu-
-, lators and suffer a loss" he added.
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 receive when they in
vested their money. when cashing
their stamps the people should invest
them in the new Treasury savings
certificates which have taken the
place of the War savings stamps as
government securities sold in small
amounts"
War savings stamps issued in 1918
will mature January 1, 1923, and
will be redeemed at par. The War
savings stamps were issued in unit
denominations of SIS. When pur-
chased the first month in the year
they were sold for SAP, and the sale
price increased one cent each month
to the end of the year. These stamps
have always been redeemable, the re-
demption value increasing month by
month in the same proportion as the
purchase price increased. The $5
stamp issued in 1913 is worth $4.63
at the present time. Next January
It will be worth SIS. a difference of
81 cents. Director Wallace takes oc-
casion to warn holders of these
stamps not to sacrifice the profit be-
tween present redemption prices and
the par value price which the govern
ment will pay, even If the scalpers
offer more than the government now
pays when cashing the stamps. He
believes 1t is far better for the hold
er of the stamps to tide over any
pressing necessity in order to receive
the full value of the stamps, as the
government intended. One great
advantage to the purchaser of the
Treasury saving certificates. new is
sue, he says, is that they are not
transferable, and the holder cannot
sell them to the scalpers as they near
maturity"
hn q
who is trying to save is besat on all
Sides" said Director Wallace. "Those
who bought War savings stamps were
generally people of small means, with
4 limited savings. For the most part
they were periodically inclined, and
bought because they wanted to help
3 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 a part of the savings of
slight increase over the present re-
/ demption prices. The government
does not offer pro-rata redemption
/ prices for its savings securities, its
policy is to encourage savings; to in
duce the investor to hold until ma
,turity and then to re-invest. The
new issue of savings certificates pro-
vides for redemption at any time,
paying 81 per cent interest during
the. time of investment. But to en-
courage these investors to make the
best of their savings, interest is paid
at the rate of Az per cent COM
) pounded semi-annually If the certi-
ficates are held until maturity, which
is five years. Another advantage Of
the new savings certificate 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
J post offices and redeemed at the
Treasury Department by mail"