The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1922-04-28
DON'T GIVE THEM AWAY

Here and there ard everywhere throughout the
country there are thousands of men. women and
children who have stored away either in some
bank or other place. fer safe-keeping, war savings
stamps to the amount of millions Of dollars. 1t
is a common experience to run across people who
have come to the conclusion that these stamps are
not worth much but they are not sorry because of
what they did, feeling that it was their patriotic
duty to help whip the Germans. However, the
fact should be impressed on all owners of thrift
stamps or thrift certificates, that they own valuable
property. Lew Wallace Jr., director of savings
in the treasury department at Washington, advises
everybody to hold on to every stamp in their pos
session.
DO not allow these savings to pass into the
hands Of Spectators and suffer loss he added.
Hold them until they are due and the govern
ment will pay their full face value, and the pur-
chasers will get all that the government intended
they should receive when they invested their money
When cashing their stamps the people should in
vest them in the new treasury savings certificates
which have taken the place Ct War Savings Stamps
as government securities sold in small amounts
War savings stamps issued in 1918 will ma
ture on January l. 1928. and will be redeemed
at par. The war savings stamps were issued in
unity denominations CT S.. When purchased the
first month in the year they were sold for $4.l2,
and The sale price increased one cent each month
to the end Of the year. These stamps have always
been redeemabe, Tie redemption value increasing
month by month in the same proportion The pur-
chase price increased The S. stamp issued in
1918 is worth $4.63 at the present time. Next
January it will be worth s.. 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 cfer far more than the government
now pays when cashing the stamps. He believes
it far better for the holder 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 Treas
ury Savings Certificates, ISSUE he says is that
they are not transferable, and the holder cannot
sell them to the scalpers as they 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 gen.
orally people of small means, with limited savings.
For the most part they were periodically inclined,
and bought because they wanted to help the gov
eminent with money in time of war Many of them
of necessity have sold their stamps redeemed
them at the places of purchase. Now, those issued
in 1918 are approaching the period of their great
est value and the ever ready sharper is trying to
shaveof part of the savings of these people by
offering them a slight increase the present
demption prices. The government does not offer
pro-rata redemption prices for its savings securities.
Its policy is to encouraged savings to induce the
investor to hold until maturity and then 10 reinvest
The new issue Of savings certificates provides for
redemption at any time. paying y per cent in
terest 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 4 IL per
cent compounded semi-annually if the certificates
are held until maturity. which is five years An
other 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 postofhces and redeemed at the
treasury department by mail