First Baby

Last week with all the publicity that a U. S. President and two of his Cabinet can drum up, the Treasury launched its drive to distribute government bonds among private investors. In the Oval Room of the White House before floodlights and newsreel cameras Secretary of the Treasury Morgenthau and Postmaster General Farley put on a little act which in thousands of cinemansions throughout the land shows President Roosevelt buying the first "baby bonds." They were the "salesmen"; the President the "prospect."

Prospect Roosevelt: I wish you would tell me about these United States Savings Bonds which went on sale today.

Salesman Morgenthau: The Treasury has decided that every citizen should have a chance to buy sound government securities and become a partner in his government. These bonds are issued in denominations as low as $25. . . . The $25 bond will cost you $18.75 today. It grows in value every year, and if you hold it for the full ten years you will increase your investment by one-third.

Prospect Roosevelt: But suppose I want to cash my bond before that? Suppose I need the money in a hurry?

Salesman Morgenthau: In case of emergency, the Government will redeem your bond at any time after 60 days from the date of issue.

Prospect Roosevelt: That sounds like a pretty good proposition to me. I want to buy some right now. Now, Mr. Postmaster General, how do I buy these bonds?

Salesman Farley: It is as simple as buying a money order. Throughout the country these bonds are on sale in about 14,000 post offices.

Prospect Roosevelt: Well, I want to buy from you right now six of the $25 denomination, one each for my five grandchildren and one for myself.

Digging in his pocket for a roll of bills, the President peeled off $113. Surprised, Postmaster Farley said something about not having any change, finally fished out 50-c-, gave it to the President.

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