Monday, November 16, 2015

Raising $2 Billion Selling Savings Stamps to Finance World War I, 1917

“War Savings Stamps to Be Sold in Nation,” from the Watauga Democrat, November 22, 1917

Washington, Nov. 13—Plans were announced tonight by Secretary of the Treasury McAdoo for a nation-wide campaign for the sale of $2,000,000,000 worth of war savings certificates. He has created a war savings committee, of which Frank A. Vanderlip, the noted New York financier and banker, is chairman, to float these certificates, and the sales will begin on Monday, December 3.

Any person may invest amounts as small as 25 cents at a time at post offices and other places were accredited persons will act as selling agents. After the sales begin the certificates may be purchased at any time. At the average 1918 selling price such investments will yield 4 per cent compounded quarterly. The certificates will be dated January 2, 1918, and will mature January 1, 1923. No person may purchase at one time more than $100 worth or hold at one time more than $1,000 worth of the certificates.

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