Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1924-02-01
NATIONAL INFRINGEMENT AND
INDIVIDUAL PROSPERITY

II the prosperity which the
country as a whole is enjoying
today is TO continue through the
year 1924, a program of economy
must rule both private and gov
ernmental expenditures.
] believe in saying, and it is
my conviction that a saving ma
ton will be prosperous nation;
that a thrifty people will be a
successful people. 1t is, there
fore, the responsibility of each
of us to help to maintain good
times and bring the greatest
benefit to the greatest number
during the coming year.
We must face the fact that
while the people acquired habits
during the war which can only
be described as extravagant, and
INDUCED in alarming and UMPIRE
cedented spending, the salvation
of our commercial and industrial
integrity today depends princi-
pally on the elimination of unne-
cessary expenditures.
However distressing conditions
are in other parts of the world,
the United States is back on its
feet, and the money madness of
wartime is over. There is but
one way for this nation to pros
per and that is for it to pay its
debts, eliminate needless ex-
penses, and to add to its surplus
in money and resources. We
must decide nov that the only
sensible and logical way to pro-
gress and maintain national and
individual prosperity is to live
within our incomes, and save a
part of our earnings.
The lead has been taken by the
government of the United States.
The administration is doing
=. everything possible to achieve
constantly greater economies and
added efficiency in every branch
of its service. AS has been re-
Gently pointed out to Congress,
revenues exceeded expenditures
by 5000, 657, AGO at the end of the
fiscal year 1923, and the indicat-
ed surplus for the fiscal year
1924 is estimated at about 1929,
100000.
The government has adopted a
program of retrenchment, and
with the further reductions
planned for the coming year the
nations financial outlook is most
encouraging. In order that we
may derive the greatest benefit
from national economies, indi-
viduals must shape their own ex-
penditures to meet their incomes,
and leave an amount above and
beyond all expenses which can
be set aside for investment. II
our people will do this, financial
security and personal happiness
will be maintained not only in
1924, but for years to come.
> Having succeeded in accom-.
plishing national economies the
government is now turning its
attention to program which
will help millions OF individuals
to save more from what they
earn. The recommended reduc-
ton in income taxes will permit
of greater savings by the aver
age wage earners.
Further than that the govern
ment has established a savings
system of its own which givesto
every one an opportunity to save
systematically by the investment
of amounts as small as $40 to
$50. / refer to the new Treas
ury Savings Certificates, by
means of which about SITS, 600,
600 have been saved in 1928.
was recently asked what l con
sidered the best method of say
ing money in small sums, and at
present / know of nothing that
is better than deposits in Say.
ings Banks or the purchase of
Treasury Savings Certificates.
There is no security which is
more available to the masses
than these savings certificates
for they are on sale at over 80, :
900 post offices, and may be OBJ
tanned at many banks and trust
companies. The Government
Savings System has been main
tanned for the benefit eff those
who wanted a government secur-
ity available at all times in small
amounts, and has unquestionably
helped many people to save and
to invest their savings in securi-
ties of absolute soundness. BY
Andrew W. Mellon, Secretary of
the United States Treasury.