Putnam patriot., 1930-07-10
Makes Important
 Prosperity Move
Montgomery Ward & Co, Now Sell ing All Merchandise Except Gro
 series on Time Payment Plan

Beginning today, as IS announced elsewhere in this issue of The Patriot and in nearly 900 leading newspaper throughout the country, Montgomery Ward & Co. inaugurates one of the most unusual merchandising policies the country has ever seen. Announce ments have been sent to the com panys ten million customers, telling them that from now until September 18th. any item in the company's cata- logue or Retail Stores except gro ceries, will be sold on Wards Time Payment Plan.
 Heretofore. the company has con- fined it's time payment selling to sueh items as washing machines, furni- ture. stoves, furnaces, etc, and in the face of present business conditions with the general tightening of credit by most retailers. this action on the part of Montgomery Ward & Co, IS a significant move.
 George F. Everitt, president of the company, in announcing the new pol icy. expresses the belief that there Is plenty of money and purchasing power in America and that greater prosper ity can be brought about by creating an inclination to buy on the part Of the public. Mir. Everitt points out that the average weekly payroll of America today is conservatively es- al eight hundred and forty million dollars; that the registered savings accounts in the country total over twenty-seven billion dollars, and are steadily increasing.
 Prices Serspe Bottom
 He says, "Yes. there is ample buy ing power and we believe that general business will improve when the buy ing public is satisfied that retail prices reflect the lower commodity levels. In our judgment, commodity prices are scraping bottom today and Mont gomery Ward & Co.,, has placed, and Is placing orders for millions of dol lars worth of merchandise at these new low levels. Months ago We cut prices accordingly, and again in the last sixty days have made further re- ductions on such merchandise as piece goods, work clothing, plumbing sup plies, etc"
 In explanation of the new plan of offering to sell all merchandise at new low prices and on the time pay ment plan, Mir. Everitt says, We con- slider it a constructive move lone of the few that have been made thus far) to stimulate consumer buying. Even a small upturn in demand will start orders to factories, wheels turn ing, unemployment iessening and a resultant upward trend to our general business structure and prosperity"
 Many will praise us for this move. Some will criticise. l hope that other institutions, large and small. will fol- low with their constructive methods to persuade the public to use it's paying power. In his first daily article, is- sued June 30th. Calvin Coolidge said. My countrymen. 1t is time to stop criticizing and quarelling and begin sympathizing and helping ,"
 This latest move on the part of Montgomery Ward & Co.,. will be well eomed by business leaders and peo- pie everywhere. No doubt a move like this by Montgomery Ward < Co.,, with it's far flung distributing organiza- ton of Mail Order Houses and Re tail Stores in every part of the coun- try, will have a decidedly uplifting effect on business prosperity.
 Mir Griffin, manager, states that the new policy goes into effect in the local Ward store today.