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    "localId": "4526418",
    "label": "U.S. Savings Bonds Campaign Kickoff, Grand Rapids, MI, April 10, 1972",
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{
    "id": "4526418",
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    "contentType": "document",
    "title": "U.S. Savings Bonds Campaign Kickoff, Grand Rapids, MI, April 10, 1972",
    "citationUrl": "https://catalog.archives.gov/id/4526418",
    "collections": [
        "Gerald R. Ford Congressional Papers",
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        "logicalDate": "1972-04-30",
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    "ocrText": "The original documents are located in Box D32, folder \"U.S. Savings Bonds Campaign\nKickoff, Grand Rapids, MI, April 10, 1972\" of the Ford Congressional Papers: Press\nSecretary and Speech File at the Gerald R. Ford Presidential Library.\nCopyright Notice\nThe copyright law of the United States (Title 17, United States Code) governs the making of\nphotocopies or other reproductions of copyrighted material. The Council donated to the United\nStates of America his copyrights in all of his unpublished writings in National Archives collections.\nWorks prepared by U.S. Government employees as part of their official duties are in the public\ndomain. The copyrights to materials written by other individuals or organizations are presumed to\nremain with them. If you think any of the information displayed in the PDF is subject to a valid\ncopyright claim, please contact the Gerald R. Ford Presidential Library.\nDigitized from Box D32 of The Ford Congressional Papers: Press Secretary and Speech File at the Gerald R. Ford Presidential Library\nU.S. SAVINGS BONDS CAMPAIGN KICKOFF,\nGRAND RAPIDS, MICHIGAN, 12 NOON MONDAY\nAPRIL 10, 1972.\nCHAIRMAN BROWN, DISTINGUISHED\nGUESTS, LADIES AND GENTLEMEN ---\nIT IS A VERY REAL PLEASURE FOR\nME TO BE HERE TODAY. I WELCOME THIS\nOPPORTUNITY TO TALK WITH YOU ABOUT OUR\nSAVINGS BONDS PROGRAM AS YOU LAUNCH YOUR\n1972 CAMPAIGN.\nTHIS IS AN IMPRESSIVE ASSEMBLY\nOF GRAND RAPIDS LEADERSHIP. I AM VERY\nPLEASED WITH THIS OUTSTANDING SUPPORT ON\nTHE PART OF INDUSTRY AND LABOR AND I\nTHANK YOU. I OFFER SPECIAL THANKS TO OUR\nFINE HOST, CHAIRMAN BROWN.\nSOME OF YOU MAY HAVE WONDERED\nJUST WHERE SAVINGS BONDS FIT INTO OUR\nGERALD FORD LIBRARY\n-2-\nECONOMIC PICTURE -- IN THE LIGHT OF THE\nGOVERNMENT'S NEW ECONOMIC POLICIES AND OUR\nDESIRE TO STIMULATE CONSUMER SPENDING FOR\nGOODS AND SERVICES.\nI CAN SAY, WITHOUT\nEQUIVOCATION, THAT THE SAVINGS BONDS\nPROGRAM WILL CONTINUE, UNDER THE NEW\nECONOMIC PLAN, TO FILL AN IMPORTANT ROLE.\nTHOSE WHO BUY SAVINGS BONDS REGULARLY\nWILL BENEFIT FROM THE FAMILY SECURITY\nDERIVED FROM THE PAYROLL SAVINGS PLAN.\nBY THE SAME TOKEN, THE GOVERNMENT -- AND\nTHE NATION AT LARGE -- WILL GAIN FROM\nAN ONGOING FLOW OF THESE STABLE,\nNON-INFLATIONARY SAVINGS FUNDS.\nTHRIFT IS STILL A VIRTUE, A\nHABIT WHICH SOMETIMES TAKES A LONG TIME\nTO FORM AND CERTAINLY A HABIT WHICH NEEDS\n-3-\nCONSTANT ENCOURAGEMENT. THE PAYROLL\nSAVINGS PLAN HAS FOR YEARS PERFORMED A\nVALUABLE SERVICE IN MAKING IT EASY FOR\nOUR CITIZENS TO PUT ASIDE SMALL SUMS ON\nA REGULAR BASIS FOR EMERGENCY NEEDS AND\nFUTURE OPPORTUNITIES. FOR THE\nSELF-EMPLOYED, THE PROFESSIONAL MAN AND\nWOMAN, THE BOND-A-MONTH PLAN HAS BEEN A\nBENEFICIAL PROGRAM.\nAS OF MARCH 31, THE CASH VALUE\nE/H.\nOF E AND H_BONDS OUTSTANDING AMOUNTED TO\nMORE THAN $55 BILLION. WITH THE\nSS\nINCLUSION OF FREEDOM SHARES -- WHICH\nWERE WITHDRAWN FROM SALE ON JULY 1, 1970, --\nHOLDINGS TOTAL $55.6 BILLION, AN ALL-TIME\nPEAK.\nTHIS IS A HUGE SUM OF MONEY\nIN THE HANDS OF TENS OF MILLIONS OF\n-4-\nAMERICANS WHO NOW OWN SAVINGS BONDS. IT\nREPRESENTS 22 PER CENT OF THE\nPRIVATELY-HELD PORTION OF THE PUBLIC\nDEBT.\nTHE IMPORTANCE OF SAVINGS\nBONDS IN TERMS OF MANAGING THE NATIONAL\nDEBT IS NOT FULLY REFLECTED IN THIS\nSINGLE FRACTION, SIGNIFICANT THOUGH IT IS.\nTHE FACT IS THAT SAVINGS BONDS TODAY,\nEVEN WITH THEIR SHORTER INITIAL\nMATURITIES, CONSTITUTE A VERY STABLE\nPORTION OF THE GOVERNMENT DEBT.\nBECAUSE OF THE 4-17 PER CENT\nINTEREST RATE CEILING ON GOVERNMENT BONDS\nTHAT DATES FROM WORLD WAR ONE, THE\nTREASURY -- FROM 1965 UNTIL THIS YEAR --\nHAD BEEN PREVENTED FROM ISSUING ANY\nSECURITIES OF MORE THAN SEVEN YEARS\nTO 108. FORD LIBRARY\n-5-\nMATURITY. WE NOW HAVE $10 BILLION OF\nAUTHORITY FROM CONGRESS TO ISSUE BONDS\nLONGER THAN SEVEN YEARS WITHOUT REGARD\nTO THE 4 1/4 PER CENT CEILING.\nTHIS AUTHORITY WILL BE USED\nGRADUALLY, AND SAVINGS BONDS WILL REMAIN\nIMPORTANT IN THE OVER-ALL STRUCTURE OF\nTHE TREASURY'S DEBT.\nTHUS, IT IS NOT DIFFICULT TO\nUNDERSTAND WHY THE TREASURY IS CONCERNED\nTHAT WE CONTINUE TO BE ABLE TO COUNT ON A\nSOLID BASE OF FUNDS PROVIDED TO THE\nGOVERNMENT IN THE FORM OF SAVINGS BONDS\nDOLLARS. ON THE BASIS OF PAST EXPERIENCE,\nI CAN PREDICT THAT THE SAVINGS BONDS SOLD\n51/1/m\nTODAY, ON THE AVERAGE, WILL NOT BE\nREDEEMED FOR 5 1/2 YEARS, WHICH IS\nCONSIDERABLY LONGER THAN THE AVERAGE\nFORD LIBRARY\n-6-\nMATURITY OF OUR MARKETABLE ISSUES.\nTHIS MAY SOUND A BIT STRANGE,\nSINCE ONE HEARS SO OFTEN THAT SAVINGS\nBONDS ARE CASHED IN PRACTICALLY AS SOON\nAS THEY ARE BOUGHT. IT IS TRUE THAT\nTHERE ARE THOSE WHO TURN THEM IN AFTER\nTHE MINIMUM WAITING PERIOD, AND EARLY\nREDEMPTIONS ARE A PROBLEM. BUT, BY AND\nLARGE, OUR BUYERS HOLD ONTO THEIR SAVINGS\nBONDS. EVERY ANALYSIS WE HAVE MADE SHOWS\nTHAT IN COMPARISON WITH DEPOSITS AT\nCOMMERCIAL BANKS, SAVINGS AND LOAN\nASSOCIATIONS, AND MUTUAL SAVINGS BANKS,\nPEOPLE HOLD THEIR SAVINGS BONDS.\nWE NO LONGER NEED TO APOLOGIZE\nFOR THE SAVINGS BONDS INTEREST LEVEL.\nSAVINGS BONDS NOW EARN 5 PER CENT, WHEN\nHELD TO MATURITY. THIS IS A GOOD RETURN\n-7-\nA SOUND RETURN, A GUARANTEED RETURN.\nFROM THE BEGINNING OF THE\nSAVINGS BONDS PROGRAM, THE\nINDUSTRY-ORIENTED PAYROLL SAVINGS PLAN\nHAS BEEN THE BACKBONE OF THE PROGRAM.\nTODAY, MORE THAN 40,000 COMPANIES, LARGE\nAND SMALL, OPERATE THE PLAN, AND THE\nSAVINGS BONDS PURCHASED BY THEIR\nEMPLOYEES ACCOUNT FOR MORE THAN\nTWO-THIRDS OF TOTAL SALES.\nTHE U.S. INDUSTRIAL PAYROLL\nSAVINGS COMMITTEE -- WITH THE SUPPORT OF\nORGANIZED LABOR AND THE VAST ARMY OF\nSAVINGS BONDS VOLUNTEERS -- HAS\nACCOMPLISHED A FORMIDABLE TASK IN\nPROMOTING THE SALES OF E BONDS. THE 1972\nCOMMITTEE HAS TAKEN ON A CHALLENGE JUST FORD\nAS FORMIDABLE. WE ARE CONFIDENT THAT\nLIBRARY TI\n-8-\nToo, WILL NOT ONLY MEET BUT EXCEED ITS\nGOAL.\nTHOSE OF YOU WHO ARE SPEARHEADING\nOUR 1972 CAMPAIGN ARE SELLING A PRODUCT\nTHAT IS TRIED AND TRUE -- ONE THAT IS GOOD\nFOR THE NATION AND GOOD FOR EACH OF US AS\nINDIVIDUALS. I FEEL SURE YOUR EFFORTS WILL\nBE CROWNED WITH SUCCESS.\n-- END --\nGERALD FORD LIBRARY\nUNITED\nSTATES\nU.S. SAVINGS BONDS PROGRAM\n\"72\nSINIALS\nThe Department of the Treasury\nBONTS\nU. S. SAVINGS BONDS DIVISION\nFACT SHEET\nKENT COUNTY \"TAKE STOCK IN AMERICA\" '72\nSAVINGS BOND CAMPAIGN\n\"TSIA '72\" COMMITTEE:\nThe Chairman of the Kent County \"Take Stock In\nAmerica\" Campaign is H. J. Brown, Plant Manager,\nFisher Body-Grand Rapids Plant No. 1, General\nMotors Corporation. His Committee consists of\nleaders in industry, banking, media, labor, and\neducation.\nAREA COVERED:\nKent County\nPURPOSE:\nThe purpose is to increase substantially the\nsales of U. S. Savings Bonds through company\npayroll savings plans. These bonds contribute\nimportantly to the sound management of the public\ndebt and help maintain our financial strength.\nSavings Bonds help finance the necessary costs\nin the least inflationary way, thus servicing\nto protect the purchasing power of the dollar.\nPARTICIPANTS:\nIn the metropolitan area, more than 200 companies\nare being asked to conduct payroll savings\ndrives among their employes. These drives will\nseek to enroll one out of every two people as\nnew payroll savings subscribers. In addition,\nit will also seek to obtain increased allotments\nfrom one out of every two people now buying\nBonds thru the Payroll Savings Plan.\nNationally, the Treasury seeks to enroll\n2,248,000 new savers and increased allotments\nthrough payroll savings.\n10,000,000 Americans are presently buying Series\nE Bonds on the Payroll Savings Plan.\nTHEME:\n\"Take Stock In America, with Higher Paying U.S.\nSavings Bonds.\"\nGOAL:\nThe Kent County goals are $9,923,000 in sales and\n4,000 new payroll savers and increased allotments.\nJOIN THE PAYROLL SAVINGS PLAN. BUY BONDS WHERE YOU WORK OR BANK.\nMINITED\nSTATES\nU.S. SAVINGS BONDS PROGRAM\nThe Department of the Treasury\n\"72\nBONDS SANIALS\nU. S. SAVINGS BONDS DIVISION\n- 2 -\nPAYROLL SAVINGS PLAN:\nThe Payroll Savings Plan was created in 1941\nwhen Series E Bonds were first issued. It has\nsince become the most successful installment\nsavings plan ever devised. Maintained by\ncompanies as a free service to their employes,\nthe Payroll Savings Plan provides for the\nautomatic and regular purchase of Series E Bonds.\nUnder the Plan, an employee authorized his\ncompany to set aside a small part of his pay\neach payday towards bond purchases. The amount\nset aside is determined by the employee.\nFACTS AND FIGURES\nNational sales goal for 1972 - $5,300,000,000\nPayroll savers nationally in 1971 - 10,000,000\nNational goal for new payroll savers and/or increased allotments for\n1972 is 2,248,000\nNumber of companies operating payroll savings in 1971 - about 40,000\nAverage Savings Bonds purchases per payroll saver - $27.00 per month\nTens of millions of Americans now own Savings Bonds\nKent County sales in 1971 - $9,757,479\nKent County sales goal for 1972 - $9,923,000\nNew payroll savers added in Kent County in 1971 - 7,600\nKent County goal for new payroll savers and/or increased allotments\nfor 1972 is 4,000\nAt the end of 1971 Americans owned nearly $55 billion in Series E and\nH Bonds and Freedom Shares. This total represents 25% of the privately\nheld portion of the public debt. This compares with $30.7 billion\noutstanding at the end of World War II.\nTwo types of Savings Bonds are sold today -- Series E, an appreciation\nbond purchased at about 75% of face value, and Series H, a current\nincome bond which pays interest by semi-annual Treasury check. E Bonds\nnow earn 5½ interest when held to maturity of 5 years and 10 months.\n(They pay 4% for the first year with interest increasing on a graduated\nscale. At maturity, they pay 1/2% bonus.) Interest is not subject to\nstate or local taxes. Federal income tax on accrued E Bond interest can\nbe postponed until the bonds are redeemed. If current income is desired\nE Bonds may be exchanged for H Bonds with continued tax deferment on\nE Bond earnings. H Bonds earn 5½ interest when held to maturity of\n10 years.\nJOIN THE PAYROLL SAVINGS PLAN. BUY BONDS WHERE YOU WORK OR BANK.\nUNITED\nSTATES\nU.S. SAVINGS BONDS PROGRAM\n\"72\nThe Department of the Treasury\nSIGNATURE\nBONTS\nU. S. SAVINGS BONDS DIVISION\n- 3 -\n31st Anniversary of the E Bond\nMay 1 marks the 31st Anniversary of the Series E Bond and of the Savings\nBonds volunteer program.\nSuccess is measured by sales:\nSince 1941 - Americans have purchased $190 billion worth of Savings\nBonds.\nSince 1945 sales have averaged over $41/2 billion a year.\nApproximately 120 million individual bonds are purchased each year --\nan average of nearly 3 bonds per family. Total number of bonds sold\ntoday is double that of 20 years ago.\nMore than ten million employes now buying Series E Bonds regularly\nthrough the Payroll Savings Plan -- at an average of $324 per year\nfor each participant. Sales through Payroll Savings accounts for\napproximately 70 percent of the total sales.\nOther millions of Americans buy and hold savings bonds purchased from\nbanks, savings and loan associations, and other financial institutions.\nThe value of bonds outstanding averages over $1,000 per family.\nThe average life of all E and H Bonds issued since 1941 is over\n7 years -- the average length of the marketable debt is only about\none-half of that of the savings bonds portion.\nAmericans earn more than $2 billion of interest annually on their\nSavings Bonds.\nSuggestions for tying-in to the 31st Anniversary period:\nCheck to see if any employees have been long time bond buyers --\npossibly since 1941. Interview them and write personal stories\naround the long-term reasons for buying and holding all these years.\nConsider the millions of homes bought with Bonds -- Hundreds of\nthousands of college educations financed with bonds --\nDifference between subsistence and a \"dignified\" retirement --\nEmergencies eased -- vacations financed -- weddings -- cars, etc. --\nall made possible whenever a Savings Bond is cashed.\nR. B. Goebel - Area Manager\nUS Savings Bond Division\nThe Department of Treasury\nGrand Rapids, Michigan 49502\nTelephone 456-2416\nJOIN THE PAYROLL SAVINGS PLAN. BUY BONDS WHERE YOU WORK OR BANK.\nYmeque , cins get quest 11773\nSavings Bond Company Kick-Off.\n- Teaderhip - Briness Intor\nSaving Bond Plan. fits into\nNEW Economic PLAN\nBond\n\"stable mm on-inflation funk\nPayroll saying - lazy,\nway to save up for\nan Emergency.\nglood\nit X\nNo of March 3 st -\nE t H. - 55 billing\n27%\nheld public delt.\nMesconcytion redemption -Larly\n5'2 1/2 yrs.\nLonger than Tamings\nm Banks.\nOHOS\nHRS.\nGood neturn - -5'/2%\nLIBRARY"
}