POSTAL SAVINGS SYSTEM

In 1910 Congress established the Postal Savings System under which
any post office may be a savings bank. Any person over ten years
of age may deposit money at the postal savings bank in amounts of
from $1.00 to $25.00, receiving from the postmaster POSTAL SAVINGS
CERTIFICATES as evidence of the deposit. Provision is made for
savings accounts of less than a dollar by selling POSTAL SAVINGS
STAMPS at ten cents each, ten of which may be exchanged for a
dollar certificate. Two per cent interest is paid on postal
savings, but savings certificates may be exchanged for POSTAL
SAVINGS BONDS, bearing interest at the rate of 2 1/2 per cent.

LENDING TO THE GOVERNMENT

The purchase of Liberty Bonds or Savings Stamps and Thrift Stamps
is a good investment and a patriotic act. The money raised in this
way is used for the national defense and for reconstruction after
the war. The Savings Division of the United States Treasury
Department carries on a campaign of thrift education. Among other
things, it promotes the organization of savings societies and
thrift clubs, because thrift is a habit which is encouraged by the
example and cooperation of others. In Randolph County, Indiana,
for example, each consolidated school has its thrift club, and
over 75 per cent of the pupils are members. One of these schools
sold over $11,000 worth of thrift stamps, and others sold from
$1500 to $3500 worth. Savings societies exist among the workmen of
many industries, and employers report that these have increased
the purchase of homes, and have resulted in a saving of materials
and tools because of the habits of thrift established.