| OCR Text |
Show DEFENSE SAVINGS BONDS This month, people in this town, as well as in every village and city in America, will begin buying Defense Savings Bonds. They will be on sale at the local post office in denominations ranging from $25 to $1,000, and will be supplemented by Postal Savings Stamps ranging in price from 10 cents to $5.00. The bonds will be sold at 75 per cent of their face value that is, a $25 bond will actually cost $18.75 and they will mature in ten years. They can be redeemed at cost, plus interest, at any time during dur-ing the ten-year period. By this plan, similar to the Liberty Loan drive of the last war, the government not only hopes to raise several billion dollars for its defense program, but also hopes to curb possible inflation. Greatly increased puchasing power, coming suddenly as a result of defense orders and defense de-fense jobs, is apt to send prices skyrocketing unless un-less part of that money is put back into government govern-ment control. Furthermore, the government considers con-siders it important that the people be given an opportunity to participate in financing the defense de-fense program. Defense Savings Bonds seem to be the right answer ans-wer particularly when they will be offered at a fair rate of interest and will be easy to redeem at any time we get hard up for funds. Series of larger bonds will be offered to big investors and bankers, but the small 10-year bonds and savings stamps are being issued primarily pri-marily to attract the people as a whole from the poorest family in town to the richest. In May, a drive will be started to promote the j sale of these bonds. Bu with most of us it won't take a lot of persuading. We know now that the govern: ment is legally bound to spend billions on defense we know that every one of us most eventually contribute to financing that program. And most of us would prefer to do our part in a voluntary, patriotic way than be forced to pay the tax collector later on. |
