Show SAVING WITH THE government B C forbes noted now york lin financial ancial writer Ny riter in an article recently contributed to the san francisco examiner says that the tha savings banks of new york state through their association and with tho the approval of the state bank superintendent are getting together with employers to install branch banks in industrial plants to help tho the employees save he says the nation that save progress america used to borrow hundreds of millions yes thousands of millions from the tha saving people of europe now european nations instead of being able to lend to us its find it necessary to borrow from us if we are to develop our resources and thus provide full time employment for every worker in the united states more saving must be done in future than was done by americans in the past theodore hardee director of the government savings organization tor for the twelfth federal reserve district commenting upon the action of the new york bankers as outlined hy by forbes said here in the west to be more exact the twelfth federal reserve district we have been carrying on an active campaign for some time to interest the heads of industrial and commercial est establishments to adopt the governments savings plan for tile the benefit of their employees through this plan the employee signs a card requesting his employer to invest a certain amount of his wages each N seek eek in 1 treasury savings stamps A man in the office assigned to the work keeps track of the amounts and pastes the stamps in a certificate blank bearing the employees name or tho the stamps are put in the employees plo pay envelope the 1 treasury savings stamp said director hardee is a new government security issued for the first time this year and designed to put government savings on a 1 basis the stamps pay no interest but are exchangeable for the 5 war savings certificates all of which pay 4 per cent interest compounded quarterly these are securities of the united states government guaranteed to increase Inci ease case in value each month from tile the date of purchase until the maturity of their life of five years director hardee invites all employers to correspond with him on the subject in care of the federal reserve bank of san francisco |