The Omaha guide., 1944-03-11
Plan Would
a S S ur
B u | w a k
for Negroes
in Postwar
Days..
LAUNCH WAR BOND
SAVINGS CLUB PROGRAM


Leaders of a number Of important
organizations active within the Ne
gro group met at the Headquarters
OF the U. S. treasury's bond divis-
ion Tuesday morning and launch.
ed a program for the DEVELOPMENT
of a net work of nationwide saw
ings clubs based on requirement
Of war bonds. The group, meeting
under the sponsorship of the Ma
tional Negro Business League, pro-
posed an ambitious plan, simple in
its basic structure but Possessing
the possibilities Of bringing toget-
her an accumulation of money
staggering to the imagination in
volume and capable of providing
a pool Of financial resources. 1t
is expected that at the end of the
initial five-year period there will
be in existence substantial nest eggs
for individual investors or ade-
quate capital for cooperative busi
ness endeavors on the part of
members of individual clubs where
they are SO desirous.
The program, starting in its
ease of operation, calls for the Or
ganization of clubs whose members
agree to deposit a $25 bond each
month as a minimum. This bond
purchased at the regular s1S.75
selling price is to be held, subject
t othe buyers wishes for five years
or until its maturity in ten veals.
The history of organized savings
endeavor, DR.. ]. E. Walker, presi-s
dent of the National Negro Busi.
Ness league, pointed out, is hat
people save with more regularity.
plan with more definiteness and
hold on to their accumulations
more tenaciously when they save
Systematically.
Hundreds Of thousands of Negro
es are buying bonds through pat
riotic methods or pay roll deduc-.
tions. DR.. Walker said, but m;.ny
have given little thought to using
them to help develop a financial
bulwark which can be used to l.elp
improve the total position Of the
race.
The National Organization of
War Bond Savings clubs amons
Negroes was set up. DR.. Walker
was chosen chairman. A. L. hol-
sey, secretary of the business lea
que, was named secretary.
Vice Chairmen are Mrs. May
Mcleod Bethune, president, f~at
ional Council of Negro Womon,
Washington; Booker T. Bradshaw,
president, National Negro Insur-
ance Association, Richmond, Vs.;
Bishop James A. Bray, President,
Fraternal Council of Negro church
es in America, Chicago; 7. NJ. Camp
bell, regional field agent agricult-
ural extension service, Tuskegee;
John w. Dobbs, president, In err
national Conference of Grand Mas
toers. Atlanta; Lester B. Granger,
executive secretary, National Ul'b-
an League, New York; Jesse MT
chell, president National Negro
Bankers association. Washingtcn;
Miss Shellie Northcutt, supervising
Joannes teacher, Washington; Mis-
Frannie B. Peck, president Nation
al Negro Housewives league, D. =
troit: DR.. Frederick d. Patterson,
president National Negro Lard
Grant College Presidents confer
ence: p. L. Prattis, executive edit
or. Pittsburgh courier; c. A. Scott
vice president Negro Publishers
association. Atlanta; Jesse o. Tho-
mas, American Red Cross, Wash
:ngton: J. Finley Wilson, grand
exalted ruler, IBPOE. Washington
j. B. Blayton Of Atlanta is treas
urer.
In addition to the above, al Of
whom with one or two exceptions
were at the meeting, the entire in
terracial division Of the war saw
ngs bond division of the treasury
including William Pickens, vii
lard Allen, Mrs. Nell Hunter, Char
les Mclean of North Carolina,
Charles Craft, Of Washington. the
deputy chairmen of Illinois AMI
New York and the dozen dollar @
year consultants scattered through
out the different states are to fo-
Gus their attention upon the drive
to get the organiza ton of local
clubs started.
others present az the meeting
included willard w. Allen. treas
ury department; Claude A. Barnett
Continued page 81