The Wilmington Morning Star

No Pressure Sales On U.S. Bonds
Official Tells Wilmington Group

The objectives of the national campaign for sale of defense bonds and the duties expected of the committee appointed in North Carolina were explained by Forest G. Miles, deputy state administrator, at a meeting called yesterday by J. G. Thornton, Wilmington chairman of the special defense savings committee.

Mr. Miles emphasized that at present there is no purpose on the part of the federal treasury, to apply pressure tactics to swell sales, but to appeal to the patriotism and the thrift of the American people to participate in the defense program by buying all of the bonds they can, either by paying in full at time of purchase or by accumulating defense stamps gradually until they have enough to pay for the bonds.

"For some years," Mr. Miles said, "it has been customary to hear it said that recovery could best be effected by keeping money in circulation. Now the call is for thrift. During the years of small employment payrolls there was little opportunity to put money away, especially among small wage earners. With the defense effort increasing employment by leaps and bounds, with wages advancing and spending power increasing, the time has come to impress upon workers generally that they should make investments which will pay them fair interest and lay the foundation for greater financial security in the future.

There is a threat of inflation, due to the fact that money is beginning to accumulate in private possession faster than the need for consumer goods. One way to meet this threat, and at the same time help the government in this great emergency, is to tie some of this surplus money up in the good security offered by these defense bonds."

There is much work ahead, said Mr. Miles, in educating the people to the need for thrift, by this means, and to the serious need for sharing in the defense program.

Further group meetings will be held, said Chairman Thornton, to lay out special activities to stimulate bond purchases. The committee is composed of: P. Nichols, H. C. Rorison, W. S. Johnson, Mrs. John T. Hoggard, H. M. Roland, C. B. Gore, E. I. Tinga, Hargrove Bellamy, L. J. Poisson, Holmes Davis, Jr., John E. Hope and R. A. Dunlea.

At a meeting called by J. G. Thornton, Wilmington chairman. the special defense savings committee this morning heard Forrest G. Miles. deputy state administrator, explain the objectives of the national campaign for sale of defense bonds and the duties expected of the committees appointed in North Carolina, up in the good security offered by these defense bonds."