Show A T Jl Tea ea oine To loam R gin in WASHINGTON t By Walter Shead Correspondent Washington Bureau ISIS 1616 ET Eye St. St N. N W. W Sale of Government Bonds to Continue IN TN ALL probability no other war war- wartime wartime wartime time agency reached closer to the people of the nation in the home hometowns hometowns hometowns towns and onto the farms than the war finance division of the treas treas- treasury treasury treasury ury department It was responsible for the sale of more than bil bil- billions billions bil- bil billions lions of dollars in government bonds This agency is now in process of liquidation reducing its Washington personnel from about to a skeleton force of about 40 Its vast state organizations are being trimmed to small groups which are areto areto to too continue the sale of government bonds to the investing public T TIIs is decision of the treasury de de- department department de- de department to continue sale of govern govern- government government government ment bonds as an investment comes about ab ut as the result of two factors The first Is to reap the benefit of million dollars worth of adver adver- advertising advertising advertising which has made the Ameri Ameri- American can public war bond conscious Secondly Sec Sec- Secondly Secondly a recent treasury survey shows that 82 per cent of the peo people pea peO- peOple pie who have consistently bought war bonds through the four war years I want to continue doing so if the bonds are available A third factor is the inflation angle These billions of dollars in invested in- in invested invested vested by the people in war bonds have had a steadying influence on the economic condition of the nation and have helped probably more than any other one influence to prevent run away spending Bureau Being Streamlined Already termination of employ employ- employment employment employment ment notices have been sent to hundreds of these wartime em em- employees employees employees and from glamorous Ted R. R Gamble the young director of on down the line there is a general exodus Gamble is succeeded by Verne Clark state director of the Iowa war finance committee and Indiana sends Lou Carow its director of public relations to take over the job of director of press advertising and radio for the new peacetime bond selling agency Purchase of government bonds through the payroll savings plan will willbe willbe willbe be continued by the treasury and it itis itis itIs is expected that special benefits will willbe willbe willbe be awarded to those companies which during the war set up special bookkeeping arrangements to keep track of the sale of millions of dollars in bonds through weekly de de- deductions deductions de- de deductions from pay checks Holdings of these government bonds by the American people more than 70 0 million people pro pro- provides provides provides vides a log back of security never before enjoyed by such a large seg seg- segment segment segment ment of the population Of the billion dollars dollars' worth sold approximately approximately approximately 53 billions were in the small smallE E F and G bonds held largely by individual investors And sale of these government bonds accounted roughly for about third one-third of the cost of the war the other two- two thirds having been raised by tax tax- New Drive In Spring The treasury department is ex ex- expected expected expected to get its new campaign for forthe forthe forthe the continued sale of these govern govern- government government government ment securities underway early in inthe inthe Inthe the spring just as soon as the new organization is set up Then those folks to whom regular purchase of government bonds has become a habit a thrift habit may resume their purchases with the same ob ob- objectives objectives ob- ob objectives in mind that caused them to invest during the war Mr l Clark the new director of the bond division of the treasury made madea a splendid record in Iowa during the war particularly among the farm and rural sections of this I rural state and his record no doubt I accounted for his selection to head the peacetime agency Ills His selection also gives rise to the implication that the treasury treas ry also plans to lay particular stress in its selling seJling program pro pro- program program gram on the value of government bond purchases to farmers and resi resl residents residents dents d I ts of the rural areas since Mr Clarks Clark's experience was concerned principally with farm areas Weeklies to Aid Campaign It would also give rise to the be be- belief belief lief Bet that the treasury plan plank to go to the weekly newspapers and small smalltown smalltown smalltown town dailies dallies in the rural areas to carry the message of the new bond program to the people Both secretaries secre secre- secretaries secretaries of the treasury and Vinson have hava paid high trib trib- tribute tribute tribute ute to the weekly press as being the strong right arm of the treas treas- treasury treasury treasury ury for the tremendous job they did during the war in carrying war bond appeals to the people The treasury feels the war bond thrift Habit ti bit inculcated in the people so strongly during the war Is too good a trait to eliminate hence al al- although although although though the old war finance division is in process of liquidation the new division is the at-the same time in proc proc- process process process ess of getting underway for a new government bond campaign They feel that tha t these 82 per cent of ot the people who want to continue their bond purchases should have havethe havethe havethe the opportunity although there is no expectation that bond purchases will willbe willbe be on the proportions of the wartime war war- wartime wartime time drives |