The Bamberg herald. (Bamberg, S.C.) 1891-1972, September 11, 1919, Page 12, Image 12
: UNCLE SAM BACK
( ]'
After finishing his job across th
profiteers and others who are respon
sword is keen and he is shielded with ;
WORKING AND SAVING
WILL REDUCE PRICES
Governor of Federal Reserve Board
Tells How Living Expenses May Be
Cut Down.?Why Everything Went
Up.
What is the best way to reduce the
high cost of living?
"Work and save" is the answer given
by the Federal Reserve Board in a
letter written by its governor, W. P.
G. Harding, to the Banking Committee
of the United States senate. The
committee had under consideration the
proposal to reduce the volume of
money in circulation. Governor Harding
opposes this plan, holding that it
will not afford the relief expected.
"The Federal Reserve Board believes"
says Governor Harding in his
letter, "that any currency legislation
at this time is unnecessary and undesirable,
and would suggest that whether
viewed from an economic or financial
standpoint, the remedy for the
present situation is the same, namely,
to work and to save; to work regularly
and efficiently in order to produce
and distribute the largest possible
volume of commodities, and to exercise
reasonable economies in order
that money, goods and services may
be devoted primarily to the liquidation
of debt and to the satisfaction to
the demand for necessities, rather
than to indulgence in extravagances
or the gratification of the desire for
luxuries."
During the last two years there has
undoubtedly taken place a certain
amount of credit expansion, Governor
Harding shows, and this in the circumstances
connected with the financing
of the war was inevitable. But it
will be corrected as the securities
'issued by the government for war
purposes are gradually absorbed by Investors.
This expansion of credit is
equal to the difference. Governor
x Harding says, between the total war
expenditures of the government and
the total amounts raised by the government
through the medium of taxaXion
and from the sale of its bonds
'and other obligations so far as they
were paid for out of the savings of
the people. He does not believe that
-any reliable estimate of this difference
can be made, but he is positive
that, whatever it is, It will be grad ually
absorbed through future savings
for the reason that banks are lending
and may always be expected to lend
freely on the government bonds deposited
as collateral.
The principal cause of price advances
just before and during' the period
of the war was the need of the
governments of the allied nations for
all kinds of commodities and for immediate
delivery in large volume, and
the "competition of this buying by
governments with purchases by private
individuals who failed to contract
their expenditures at a rate commensurate
with the growing expenditures
of these governments."
^? -* nf fho nost-wa?
Ulif %JL UiU icaiuioo v4 vuv ^
period, through which the nation Is
cow passing and which has been
marked by rising prices, is the general
relaxation of war-time practice of
personal economy. This has resulted
in an increased demand for food and
clothing and other commodities by
majty persons who during the war
practiced a more or less rigid economy
in their personal purchases. Also,
it be borne in mind that they
are not only buying at market prices
but are buying in competition with
the export demand. In addition, largely
to. crested wages and incomes during
tt* fire years have developed
a demand for many commodities which
ar* aot of real necessity. This nut?r*?My
h*? diverted labor and raw and
manufactured materials from essentials
to ma essentials, contributing no
part to the trend of increasing
OjJ IS WAilFAir
yy--&\
is water Uncle Sam is now after the
slble for the hight cost of living. His
a strong device.
TELLS HOW OTHER
PEOPLE GET AHEAD
Pamphlet Issued by U. S. Treasury
Answers Question "How Can I
Save Money."
As an answer to the question, "Hoar
Can I Save Money?" the Savings Division
of the Treasury Department has
compiled an interesting and helpful
pmnphlet entitled "How Other l e^pie
Get Ahead."
For individuals and families whose
incomes are less than $5,000 a year
this p :r.r/~>t cr~r> a number of enlightening
suggestions as to the disbursement
of incomes of various
amounts from $15 a week upward. Not
only does the material furnish a ready
answer to the problem of expenses,
but it affords an authentic source of
information as to living costs. The
figures were compiled from records of
official government investigations into
the several subjects and may be regarded
as up to date and accurate.
This material makes possible a
new attack in the movement to make
thrift a national characteristic and to
foster the habit of "Save First?Spond
Afterward." It will interest people In
saving more money by showing them
; how much other people find it possible
to save and also by showing them how
they can cut down the cost of living
comparing their costs with average
costs at the same Income.
The Savings Division suggests that
an excellent way to drive nome tne
truths of the budget system is to hare
the schedules discussed at school and
taken home by the children for consideration
by the families. Another
method is to organize a house-to-house
canvass through committees of women
who will bring the budgets to
the attention of families and secure
their agreement to study their own
situation.
Saving and spending budgets have
been prepared to meet local conditions
at a number of points, and much
interest in the application of the budgets
to the campaign is being manifested
in sections of the country
where the National Thrift Campaign
is being carried out successfully.
LEPERS SET SPLENDID
EXAMPLE IN SAVINGS
Colony of Unfortunates In Farawaj
Hawaii Buys War Savings Stamps
At $62 Per Capita.
Recent reports from Honolulu contain
an interesting and unusual lesson
in thrift which may be considered
a record for the states to attempt.
! Sales of War Savings and Thrift
Stamps among the inmates of the Pen1
ikese Island Leper Colony during July
j amounted to $62 per capita. Alto;
gether 32 purchasers of these securities
took a total of $1,984 of stamps, j
When it is considered that this
amount is far more tfaan the per capita
quota for the United States it te
i apparent that the optimism of these
^lepers, despite their station in life, is
^ little less than remarkable.
Up to date the total sales of War
Savings and Thrift Stamps in Hawaii
te more than $2,020,000. or more than
"$20,000 in excess of its quota."
The faith that moves mountains is
the faith that gets a steam shovel in!
stead of an old hoe. Labor saving is
'what you want. It. means money tavj
ing, too, for War Savings Stamps.
i
] Spend a little less than you earn?
I it's a sure road to success. Put your
savings in War Savings Stamps.
Thrift helped to win the war. It
will enable us to enjoy the fruito of
i victory also.
i Box paper at less than wholesale M.WTOXK?The guaranteed tonprices
at Herald Book Store. ic for chills, tever and malaria, 2~>c
and " ac bottle.
666 has more invitations than any ?
! other Chill and Fever Tonic on the The tamous Holman Bibles are on
market, but no one wants imitations, sale in Bamberg only at the Herald
j They are dangerous things in the Book Store. A few family Bibles on
medicine line.?Adv. hand
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