Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-03-05
D. c. BANKERS ADJ
AUTHORIZING WAR!
Chairman Noyes Pledged Full
Cooperation in Sale of
"Baby Bonds"

That Washington's banks will CO.
operate 100 per cent in the Nationwide
anti-hoarding campaign was pledged
last night to Newbold Moves, chairman
for the District of Columbia area Of
President Hoover's Citizens Reconstruc-
ton Organization.
The countrywide campaign will re-
ceive its initial impetus in radio ad-
dress by President Hoover tomorrow
night, while the local anti-hoarding
campaign will get into full swing Mon
day.
Announcement of intention Of the
banks to cooperate came in a letter
to Mr.. Noyes from Robert v. Fleming,
president of the Riggs National Bank
and a. member of the Executive Com
1nittee In charge of the washington
campaign. Mr.. Fleming said ne mad
been informed by C. H Pope, presl-
dent of the District Bankers Association,
that all members OF that ,+ organ E .15 i1e
sale Of the baby bonds" 10 be Issued oy
the Treasury Monday.
Each VIII Cooperate
Mr.. Fleming said Mr.. Pope had ad-
yised him that each ana every mem
ber' of the association will be GLAD 10
cooperate in receiving Subscriptions
from the public" for the bonds.
Mr.. Pope's letter said in part:
KINDLY give Mr.. Noyes our assurance
that every member OF the DIsVfict VI
Columbia Bankers Association Will re-
ceive subscriptions made by the puonc
to the one-year Treasury certificates OF
indehtedness. otherwise known as baby
bonds" which are to be issued IN de-
nominations of $50, 500 and $500, re.
jeenable before maturity at par ana
accrued interest upon 60 days notlce
to the Government by the holders.
ut was especially gratifying to me
that each bank willingly gave It's as
s11rance and consented so promptly TO
MIR. Moves suggestion.
Bonds Sound Investment.
In connection with the distribution
of the baby bonds" on behalf OF tne
local committee, Newoolo Noyes DE-
clared: .:.
II wish again to emphasize the basis
r,,on which these bonds are being
offered to the public. 1t is far from the
desire of the Citizens Reconstruction
Organization that they be purchased
with funds withdrawn from banks for
that purpose. Any such course would
defeat the basic purposes OF our COM
unittee. The bonds are offered as the
soundest kind of investment for those
who have withdrawn funds from normal
credit channels to the end that those
funds may be brought back into useful
constructive circulation.
THE bonds are, in effect, interest
bearing dollars. As long as the United
states Government Is sound, they 1ur-
nish an absolutely safe investment Tor
idle dollars. In purchasing them the
most tinnid can be assured that they
are putting their funds into an invest
ment which guarantees on Uncle sans
word principle and interest, and that
simultaneously they will be playing their
part in restoring employment to their
neighbors anu prosperity to the Nation
"Anti-hoarding week in washington,
starting March Z, has but single pur-
pose. Not to float vast issue OF
bonds. Not to transfer funds from one
type of sound investment to another.
But merely to put every idle dollar back
to work. There are variety OF man
ners in which boarded funds may be
soundly invested. The Baby Bond
issue Is but one Of them"