Jasper County Democrat, Volume 22, Number 28, Rensselaer, Jasper County, 5 July 1919 — FACTS ON CASHING WAR SAVINGS STAMPS [ARTICLE]

FACTS ON CASHING WAR SAVINGS STAMPS

Government Always Ready to Redeem Them With Interest, but It Means a Loss in the Earning Rate. ▲ considerable number of War Savings stamps are being cashed In Indiana. There Is nothing alarming or Illegal about this. The government Intended that the small savings represented by War Savings stamps should be available la an emergency. But the War Savings organization for Indiana points out that there is another aspect to be considered. Cashing War Savings stamps before the date of maturity or selling them to a scalper below par represents avoidable loss, thus-defeating the very object of the stamps—the practice of thsift. War Savings stamps held to maturity yield 4 per cent Interest, compounded quarterly; if cashed before maturity the interest amounts to only 3 per cent Selling to scalpers represents a still greater loss. Every effort Is being made by the government' this yeas to Inject a little of real joy Into thrift. Under stress of war this perhaps was overlooked. War Savings workers were carried away with their enthusiasm. - Methods of campaigning in some districts ph)bably resulted in some persons pg; coming unwilling buyers of stamps. The government wants no unwilling buyers, nor does it want unwilling holders of stamps. Many of those who have been cashing stamps at this time may be classed as unwilling holders. Means adopted In some quarters to Induce these to retain their stamps have created a panicky feeling among other holders. Many rushed to the post offices to give their ten days’ notice. With those who met with no “strong-arm” methods to prevent the cashing of stamps confidence was restored and the next day they promptly forgot about having given notice. Every applicant for redemption now receives the following letter from the postmaster: “Your" application has been placed on file, and your money will be ready for you in cash ten days after the date of your application provided your stamper are properly affixed to a War Savings certificate issued in your name. “You will receive more cash than you originally paid for any stamp which you have held more than one month. These stamps of course earn Interest. They, therefore, Increase in value month by month. In five years, stamps costing from $4.12 to $4.23 are worth $5. In other words, the money invested in each stamp earns from 77 cents to 88 cents, or Interest at more than 4 per cent per annum. "Do you know, however, that you do not have to take cash for all of the War Savings samps on your certificate?

“Possibly at this time you do not need all of your cash that is Invested In stamps. In that case I will be glad to give you cash for any part of them that you wish to turn Into money and give you the balance In 1919 War Savings and Thrift stamps. “On the other hand, If you have need at this time for all of the cash you have Invested in stamps, the government Is glad to return it to you, regretting of course that circumstances compel you to lose the good rate of Interest which your money would earn during the next few months or years. “Doubtless, when your present emergency Is passed, you will begin to save again and will want to buy more Thrift stamps and War Savings

stamps, it win oe a keen personal pleasure to me to serve you In this respect.”