The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1922-04-21
WAR SAVINGS STAMPS
Director Wallace Urges Owners
Hold Them Until They Are Due

Director Wallace Urges Owners to
Hold Them Until They Are Due
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 say
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 purchaser will get all
that the government intended they |
should receive when they invested
their money. When cashing their
stamps the people should invest them
in the new treasury savings certifi-
Gates which have taken the place of
/ the war SAVINGS stamps as government
/ secur ties sold in small amounts"
War savings stamps issued in 1918
will mature on January /, 1927 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 redeemabe, the re
demrtion value increasing month by
month in the same proportion as the
purcha e price increased The SIS
stamp issued in 1918 is worth $4.63 at
the present time. Next January it
will be worth S., a difference Of 81
cents. Director Wallace takes occa-
sion to warn holders of these stamps
not to sacrifice the profit between
present redemption prices and the par
value price which the government
will ray even if the 'scalpers offer
more than the government now pays
when ca hing the stamps. He believes
{ is far better for the holder OF the
stamps to tide over any pressing ne,
cessity in order to receive the full
value OF the stamps, as the govern
mer' int7nd d. One great advantage
to the purchaser of the treasury saw
ings certificates, new issue, he says
IS that they are not transferable, and
the holder cannot sell them to tbs
scaIpers as they near maturity
III would appear that the person
) who is try ng to save is besat on al
4 s des, -ad Director Wallace. "Thos,
A who bought war savings stamps wer,
d general people'of small means, Will
q limited savings. For the most par
they were periodically inclined, an,
bought because they wanted to bel
the government with money in tim
OF war. Many Of them Of necessit
y have sold their stamps or redeame
o them at the places Of purchase. Now
=. Gose issued in 1918 are approachin
the period Of their greatest value, an
the ever ready sharper is trying [
shave of part Of the savings {
y these people by offering them sligh
e increase over the present redemptio
n prices. The government does not o
fer pro redemption prices for its sar
q ings securities Its policy is to 81
D courage savings; TO induce the inyes
or to no d INT maturity and then
Il reinyest. The new issue of saving
b certificates provides for redemptio
at any time, paying 1-2 FER cent H
Z I rest during the time of investmen
q But TO encourage these investors
q make the best of their savings. int f.,
est S paid at the rate of 4 IL per ceI
compounded semiannually if the ce
tiicates oare held until maturit
4 which is five years Another adya
tag OF the new savings certificate
"a that they are all sold at the san
n price no matter what time of the We,
th,y are purchased They are sold
q al post)flices and redeemed at Il
n treasury department by mail"