The united opinion. [volume] (Bradford, Vt.) 1881-1970, 1922-09-29
STATEMENT BY SECRETARY
MELLON.

The Treasury announces that
effective October 1, 1922, the
issue prices of Treasury Savings
Certificates will increase to $20.-
so for the $25 certificate, $82 for
the $500 certificate, and $500 for
the $1,000 certificate. At the
new prices Treasury Savings
Certificates will yield about A per
cent compounded semi-annually
if held to maturity. The new
certificates will be dated Septem-
Der 80, 1922 in order to distin-
guish them from the certificates
now on sale, which are dated
December Is, 1921. The current
issue of certificates, which is be-
ing sold at 500 for a $25 certifi-
cate, $50 for a $500 certificate,
and $500 for $1,000 certificate,
will continue on sale until the
close of business September 80,
1922, and will then be withdrawn
from sale in favor of the new
certificates. Treasury Savings
Stamps, non-interest bearing,
which are now on sale in the
denomination of 81, will likewise
be withdrawn from sale at the
close of business September 80,
1922.
The current issue of Treasury
Savings Certificates was first
placed on sale December Is,
1921, and since that date certifi-
Gates up to about $115,00O,00O
(maturity value) have been sold.
Sales have been running at the
rate of about $15,000,000 matur-
ity value per month and there is
every evidence that the certif-
Gates have proven increasingly
attractive to investors. With
sales satisfactorily established on
a going basis and with the i'm
provement that has taken place
in the investment markets, the
time has come to readjust the in
terest basis on which the certi-
fcates are sold and the Treasury
has accordingly decided to make
the increase in price which is
now announced. At the new
prices the certificates should
continue to be highly attractive
to investors, particularly small
investors who desire to save
Systematically, and the Treasury
looks forward with confidence to
the continued cooperation of all
helpful agencies in promoting
their sale.
Apart from the change in
price the new certificates will
correspond in all essential re-
spects to the certificates now on
sale. Each certificate natures
five years from the date of its
issue, but may be redeemed at
the option of the holder at any
time after issue, at the value in
dicated on the back of the certi-
ficate. The certificates are issued
only in registered form, in order
to afford protection against loss
and theft, and are exempt from
the normal Federal income tax
and from all State and local tax
alton Except estate or inherit
ance taxes). The aggregate
amount of Treasury Savings
Certificates of any one series
that may be held by any one per
son at any one time is limited to
$4,000 maturity value, and for
this purpose the certificates
issued within any one calendar
year, whatever the issue or the
issue price, constitute one series.
Treasury Savings Certificates
of all denominations may be pur-
chased at post Offices throughout
the country, at banks and other
agencies, or from the Federal
Reserve Banks and branches, and
mail applications addressed direct
to the Treasurer of the United
States, Washington, D. c.; will
receive nronpt attention.