Evening star., 1932-03-10
HOARDEp DOLLARS
RESPOND TO CALL
Pouring Into Channels of
Trade, Banks and
Baby Bonds.
Continued From First Page.)

- PAAfASSS w NN oAAy PSAoOAA NA+O ~
Eeves that conditions have improved
to such an extent that he wants to get
his money back into useful circulation,
help relieve TIE credit situation and at
the same time cause his idle funds to
bring him a definite income.
The point cannot be too strongly
stressed that people who put hidden
money into the baby bonds, other Gov
ernment issues, or into any other sound
investment, including the savings de-
partments of the banks, will be looked
upon as benefactors to society. They
will be playing q very vital part In
helping to bring back normal prosper
ity. For that they should and Will Se-
ceive nothing but praise.
Many indications of the use OF idle
dollars in trade and good investments
are shown in the increasing stream OF
letters into The Stars anti-hoarding
letter contest
From banking circles cs me two
specific instances. A woman IN one
case came to a banker and said that
she had $500 in currency. The banker
told her of the anti-hoardmg movement
now in full swing throughout the coun-
try. She decided to put her money III
O savings account.
Another woman. who, according to
second report, had saved several thou-
sand dollars, came into one of the banks
in the city and invested the entire
amount of cash in the new 2 per cent
baby bonds.
Two citizens associations took &C
tion last night against hoard1ng. Inc
Takoma Park. D. c., Association
adopted a resolution Endorsing the re-
cent proposals seeking to terminate
boarding. thereby enabling the pre-
vention of further loss Of income to
the hoarder himself, and preventing
likewise the continued deprivation OF
the general public benefit enjoyed by
circulation, In contradistlnctlon to
withdrawal from circulation OF invest
ment funds A letter was read from
Newbold Moves, chairman of the local
anti-hoarding drive.
THE American University Park Citi-
zens' Association adopted formal res
olution to "indorse the purposes OF the
resolution was introduced by Herbert
L. Brooks, president Of the association,
a member of the local committee. on
the campaign.
The Lions Club at their weekly
luncheon at the Mayfiower Hotel in
dorsed the movement and pledged
themselves to take an active part in
the drive.
Advantages Stressed.
The practical advantages of putting
idle dollars to work in the real estate
field were stressed To-Day by the Wash
ington Chapter Of the American 1nsti-
tute of Architects as 1t gave hearty In
dorsen ent to the anti-hoarding cam
paign.
The views Of the architects were con-
veyed to Mr.. Noyes by George Oakley
Totten, jr., president Of the Washing
ton chapter.
Real estate investment is one Of the
best securities in the world during this
period Of depression" Mr.. Totten said.
For the past two years building
materials have declined in cost. This
means that those who are boarding
money have an excellent opportunity to
invest In some sort Of building enter
prise-in real estate mortgages or in
building itself.
To-day is the time to set unemployed
capital at work. Not only is 1t pa
triotic duty to release boarded money.
but this is the time to get your moneys
worth in any form of construction. In
cidentally in helping yourself in the
most sensible way you are helping
others"
Available at Low Cost.
Pointing out that architects, as we'll
as others, are hard pressed for work,
Mr. Totten said that never have the
services Of an architect been available
at lower cost.
The Merchants and Manufacturers
Association strongly indorsed anti,
committee of the backing of members
Of the association, according to Mark
Lansburgh, president of the asSocia-
ton.
Washington has been less affected
by the economic changes of the past
two years than any other city in the
country, as is revealed by the fact that
the retail trade Of department stores
for the past calendar year was but 2
per cent below the previous year, which
Is truly remarkable showing, espe-
cially in view of the decline that has
taken place in retail prices" he said.
That this stabilized situation has
existed in the Capital City Is an indi-
cation that Washington people have
maintained a saner attitude in the use
of their funds than in many sections
OF the country, and they are now tax
ing advantage of the most remarkable
values that have existed in years and
which are now available in every line
of merchandise"
THE Star is to be especially COM
mended tor its efforts in making avail
able loans TO its employees in home i'm
provements. Such efforts may well be
emulated by other organizations, for
they are far-reaching in their bene-
fetal effect, providing for an endless
chain of employment"
Radio Talks Tonight.
Three speakers will carry the anti
boarding message over the radio to-
night. The first will be George A G.
Wood, president of the Washington Gas
Light Co., who will speak during the
radio time of his own company over
WRC, beginning at 6:15 O'Clock
Joseph Tumulty, secretary to the late
President Wilson, will speak from 7:45
to 8 o'clock over WRC, and Arthur
HELEN, attorney. will be heard from
Station VOL at 7:l5 O'Clock.
John B. Colpoys, editor of the Trade
Unionlst speaking over VOL last night,
estimated that there we're more than
ZOtuOU ptISOiAb OuL VI hDIk III Tie
National Capital.
"Hoarded dollars create idleness," ne
declared, urging hoarders to put their
Idle money to work.
Spend wisely. save judiciously, but
maintain your standard Of living" ad-
monished MI Colpoys. "A hoarder is
an enemy of society. He Injuries both
himself and society itself Idle dollars
should be deposited in banks" he said.
invested in well managed corporation
securities, in baby bonds, or spent with
Washington merchants"
Organized labor here has thrown the
support of its 1000 members behind
the anti-hoarding campaign.
Pointing out that the American Fed
Grafton Of Labor. the American Legion,
the Association Of National Advertisers
and othe: prominent organizations have
joined in the fight against depression
President R. A. Dickson Of the Wash
ington Central Labor Union called upon