The Republican. [volume] (Oakland, Md.) 1877-current, 1922-04-20
SAVINGS STAMP HOLDERS
ADVISED TO KEEP Them
They Should Not be Allowed to
Pass Into Hands of Spectators.

Keep your War savings stamps"
is what Lew Wallace, Jr., Director of
Savings, Treasury Department, says
to the people who hold such govern
ment securities. "Do not allow these
savins to pass into the hands Of spec
ulators 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 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 govern
ment securities sold in small
amounts"
War savings stamps issued in 1918
will mature on January l 1923, and
will be redeemed at par. The War
savings stamps were issued in unit
denominations of So. When pur-
chased the first month in the year
they were sold for $412, 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 mon
tn by month in the same proportion
as the purchase price increased. The
So stamps issued in 1918 is worth
$4.G3 at the present time. Next Jan.
uary it viii be worth So, a difference
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 prices which the gov
eminent will pay, even if the scalp
ers offer more than the government
now pays when cashing the stamps.
He believes it is 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 ad-
vantage 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 scalpers as they
near maturity"
at would appear that the person
who is trying to save is besot on all
sides" said Director Wallace. Those
who bought War savings stamps We're
generally people Of small means, with
limited savings. For the most part
they were periodically inclined, 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 a 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. It's policy is
to encourage savings; to induce the
investor to hold until maturity and
then to re-invest The new issue Of
savings certificates provides for re-
demption at any time, paying 312 per
cent interest during the time of in
vestment. But to incourage these in
vestors to make the best of their saw
ings interest is paid at the rate of
Az per cent compounded semi-annu-
ally 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 post offices and re-
deemed at the Treasury Department
by mail"