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About The news-review. (Roseburg, Or.) 1948-1994 | View Entire Issue (Oct. 25, 1950)
o o o 12 The N.wt-Rtvitw, Roseburg, Ort W.d., Oct. 25, 130 Cashing Of Savings Bonds FasterThan Buyirfg Draws Proposals To Reverse Trend ly SAM DAWSON NEW YORK IAPI People have been cashing savings bonds fester the", they have been buy- ing new ones. Most of the selling has been to J finenee wer-seere buying of gooai. dut lomt of the drop in "E" bond buying it because people ere wondering about their value as in. vestments. You een't buy el much with the dollar you get from redeeming your bonds at you could heve bought at the time you put the dollar into them (unlets you bought them !n 1948.1 And at least one economist urges the tree, sury to tie th redemption value of savnigs bonds to the cast of livinq so that bondholders woul get beck their full dollar's worth of buying power, The treasury has other "E" bond headaches, in addition In their Inns of popularity as invest ments. Re demptions will soar frnm now on. to a peak of $7 billion worth of the loyear paper coming due in 1954, since J944 was the top year in sales. This comes at an embarrassing time. Outstanding "E" bonds total around 131 billion. The treasury wanta you to hold them, exchange maturing bonds for new ones, and buy still more out of your present inrome. It thinks that's one of the best ways to finance rearma ment, fight inflation by reducing the money for buying goods, and ; keep hank credit from soaring as I it would if the treasury has to Sore Dowion REMEMBER THE MAN REMEMBER THE NAME REMEMBER TO VOTE FOR 53? REPUBLICAN CANDIDATE COUNTY JUDGE DOUGLAS COUNTY A Lifelong Resident With Intimate Knowledge of DOUGLAS COUNTY'S PROBLEMS General Election Nov, 7 Paid Advrtise menf Hil for Judo Comm. J. Amocher, Sec, Roseburg borrow from the banks Instead of from you. The question is: ran the treasury reverse the present trend (cash ins in September exceeded sales by $104 million) by public appeala and hoopla drives? or must it offer more attractive terms? and If so, what? Would rep Buying Powee The escalator bond proposal is by Sumner Slirhter, Harvard eco nomist. He told the National Sav ines 4t I-oin league here that I holders of "K" bonds had paid S31 .5 billion for securities with a present redemption value of $34.7 Ibilion, "hut in the purchasing power of the year in which the bonds were purchased they had a ' redemption value on July 30, 1930, of only $27.7 billion." This was a loss in purchasing power of $3.8 billion, of 12.1 per cent. He urged that the treasury offer savings bonds payable tn constant purchasing power. That is, if living costs go up SO per cent after you buy a $ino bond, you should get $150 for it when you cash it in. Critics of this proposal to tie redemption value to some such thing as the consumer price index day it might lead to tremendous inflation, rather than curbing it. They also stress the strain on the treasury, which would never know how much it really owed, until redemptions were made. Home even question whether the government has the moral obliga tion to guarantee the purchasing power of any investment every form of savings has its own peculiar ri k or risks. Other Prepesals Advanced Another proposal given much more consideration at the Treasury is thst holders of maturing bonds be offered one per cent interest for each additional four months held. Still another is that a flat rate of interest he set. At present the return is only 1.33 per cent the first year held. This increases the longer you hold the bond until the return at maturity is 2 ( per cent a year. Some argue that the bonds would be widely attractive with a flat 3 percent interest through their entire life. Some propose that the treasury offer tax incentives for saving. This would allow persons to de duct so much from their income taxes if they can prove they save a certain portion of their incomes. And there is talk of forced sav irgs. Thia would use the present payroll-savings plan, except that there would be nothing voluntary about it. Your boss would buy the bonds for you on a compulsory basis snd you couldn't cash them until the government says the danger of inflation is over. in their OV l l II f I I M S I " A A '7 r$mBMmm u u .. 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