Jasper County Democrat, Volume 22, Number 89, Rensselaer, Jasper County, 4 February 1920 — CO-OPERATION TO CURB THE RIOT OF UNWISE SPENDING [ARTICLE]

CO-OPERATION TO CURB THE RIOT OF UNWISE SPENDING

Savings Societies, Schools, Women’s Clubs, Unions, Lodges and Churches Aid Savings Movement. By Albert Boswell, Director Co-Operating Organizations, Government Savings Organization, 7tli District. Establishment of harmonious or reriprocnlfrelations between the citizen and the government, by giving the people an opportunity to acquire a stake in the government is one of the aims of the savings organization. Go-op-eration is the keynote of the 1920 thrift movement—the Treasury department and the people working together for the common good. Purchase of Treasury Savings securities benefits the nation and the Individual alike. It starts the saver on the road to Independence and provides needed funds for the U. S. Treasury. The business of the savings organization is to promote savings and the purchase, from the Treasury or in the market, of U. S. Government securities of all kinds and the continued holding thereof. In this, co-operating organizations play a large part in furthering the teaching of saving, not merely as an end in itself, but as a means of safe Investment, which means government securities. Co-operating organizations contributing toward the success of the thrift movement, and their varied activities, may be set down as follows: 1. GOVERNMENT SAVINGS SOCIETIES—These are formed in industries, mercantile and other establishments and are defined as “a group of men or women employing ‘teamwork’ for systematic saving.” Their aims are: To create community sentiment for saving. To effect a change in the present extravagant standard of living. Tb decrease the tendency toward convention In spending. To provide a constant reminder, an incentive and the required suggestions for saving, and the purchase of government securities. 2. SCHOOLS —They are the means of achieving the object of inculcating the saving habit and of building up for the future a nation of thrifty citizens with a leaning to government securities for investment. The government asks the schools to: Introduce thrift material into textbooks through enactments by stateboards of instruction and legislature. Distribute Treasury Department literature among pupils for family reading as well as their own use. Make adequate arrangements for the regular sale of Thrift and War Savings Stamps. 3. WOMEN’S ORGANIZATIONS— Next to the schools, organized groups of women probably are the most important factors in advancing thrift education. They are expected -to: Establish classes in thrift and household economy through the use of the budget system. Make appeals to women who, through inheritance or participation in industry, have money to invest and who may be convinced of the wisdom of Investing in government securities. Aid in carrying out the selling work in the schools in order to lighten the burden" of the already overworked teacher. _ 4. LABOR. FRATERNAL ORGANIZATIONS, ETC. —Labor organizations, fraternal societies, commercial asso- ) clations, agricultural bodies, churches and foreign language speaking groups offer means of general assistance, as follows: Furnishing information on government war securities. Making suggestions at regular meetings and at conventions on wise spending as the essence of true thrift. Promoting the vigorous sale of government securities. Encouraging the, investment of idle organization funds in some form of government security. The advantages presented by Treasusy Savings Certificates, issued in denominations of SIOO and SI,OOO, as investments for lodge funds, is being widely recognized by fraternal organizations. Labor unions and churches also are adopting this method. Investment in government securities is being urged by experts in rural economics for farmers, who do not need to put the money back into their farming, as the best disposition for the farmers’ surplus. They point out that investment of this surplus in land that must be leased or farmed by tenants usually will not pay as much net income as government bonds; also that bonds are useful ps collateral for notes in banks to obtain temporary capital. The holding of government securities now owned and the buying of more is urged, therefore, as good policy for farmers.