The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-04-18
DON'T DISPOSE OF YOUR WAR
SAVINGS STAMPS.

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 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 purcha sers 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 certiff-
Gates which have taken the place of
the War Savings Stamps as govern
ment securities sold in small amounts"
War savings stamps issued in 1918
will mature in January I, 1928, and will
be redeemed at par The war savings
stamps We're issued in unity denomina-
tions 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 in-
creasing month by month in the same
proportion as the purchase price in
creased. The IS stamp issued in 1918
is worth $463 at the present time. Next
January it will be worth IS, a differ
ence of 81 cents. Director Wallace
takes occasion 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 viii pay, even If the scalpers Of
for more than the government now
pays when cashing the stamps. He be-
lieves 1t 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 government
intended One great advantage to the
purchaser of the Treasury Savings
Certificates new issue, he says, is that
they are not transferable, and the
holder cannot sell them to the scalp
ers as they near maturity"
1T would appear that the person
who Is trying to save is best on all
Sides" said Director Wallace. Those
who bought war savings stamps were
generally people of small means, with
limited savings For the most part they
were patriotically inclined, and bought
because they wanted to help the gov
eminent with money in timeaof war.
Many of them of necessity I've 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 slight increase over
the present redemption prices. The
government does not offer pro-rata
redemption prices for its savings Sc
curities It's policy is to encourage saw
ings; to induce the investor to hold
until maturity and then to reinvest
The new issue of savings certificates
provides for redemption at any time,
paving 31-2 per cent interest during
the time of investment. But to encour
age these investors to make the best of
their savings interest is paid at the
rate of 41-2 per cent compounded
semi annually If the certificates are
held until maturity, which is five
wears. 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 postoffices and
redeemed at the treasury department
by mail"