Regional President Speech

MEETING OF FRB SOLICITORS RE TREASURY'S SHARE-IN FREEDOM CAMPAIGN FOR THE PURCHASE OF U.S. SAVINGS BONDS Bank Relations Conference Room Federal Reserve Bank of Philadelphia Monday, April 22, 19&9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis SUGGESTED TIME TABLE FEDERAL RESERVE BANK OF PHILADELPHIA SAVINGS BONDS CAMPAIGN Apri 22 Monday Solicitors meeting. 29 Monday President's letter to all employes. May 1-8 VJcd-Wed In Bank and department publicity and promotion build-up. * 3 Friday Solicitors meeting - distribution of campaign material. 6 Monday President's letter to Officers in charge of various department 6 Monday Company Chairman's letter to all.employes. 7 Tuesday Company Chairman's letter to solicitors. Thursday Solicitors initial contact vrith employes. (© Friday Clean up job by solicitors. 13 Monday All returns reported, destination to be announced. 15 Wednesday VICTORY meeting of solicitors. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis SAVINGS BOND DRIVE, 1968 F e d e ra l R eserve B ank o f P h ila d e lp h ia Philadelphia, Pennsylvania 19101 May 6, 1968 To All Employes: The Treasury Department has launched a new United States Freedom Bond Drive. This Bank has been asked to Join the campaign. As president, I pledged the Bank's cooperation. Now I should like to explain briefly my feelings about this. Each of us is different in many ways. Some of us are the sole source of support for our families, others are single, or have working wives or husbands. We have different needs for goods and services; our earning power is different. Because of these and other differences, our spending and saving are also different. Some of us spend all or nearly all of what we earn. Others save a fair proportion of what we make. This is fine, so long as we are doing what we want or what our individual situations cause us to do. When we save, we don't all save in the same way. Some of us emphasize life insurance, others corporate stocks and bonds, and some of us save more in liquid forms such as bank deposits, savings and loan shares, and United States Savings Bonds. In any case, we each assess our own indi­ vidual situation and save in a way that seems more appropriate. Your investment in Savings Bonds and the new Freedom Share Notes, besides being a lucrative, secure way of saving and providing for the future, is a key element in the sound management of the public debt — a stable factor in protecting the value of the dollar. Naturally, a stable dollar means greater domestic industrial growth and continued job opportunity and security. A solicitor will call on you to make it easy for you to enroll in the payroll plan. But remember, it is entirely your own decision. There is to be no pressure and no persuasive solicitation. Only you know if you should buy Savings Bonds through the payroll plan. President (The Chairman of the Drive was James H. Muntz. This letter was mailed to the home address of all officers and employees.) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Federal Reserve Bank of Philadelphia Philadelphia, Pennsylvania 19101 Office of the President May 2k, 1968 TO ALL EMPLOYES: I am happy to report the results of our 1968 Share-in-Freedom Campaign for the purchase of United States Savings Bonds. We have 851 members on our staff. Everyone was given a free choice. Sixty-one of those already on the Payroll Savings Plan took the initiative to increase their deductions. Of the 50^ individuals not on the plan, 16^ joined during the Campaign. In summary, 5H or 60 Per cent of the entire staff are now on the Payroll Savings Plan. Sincerely, Karl R. Bopp, President Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1968, April 21). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19680422_karl_r_bopp

@misc{wtfs_regional_speeche_19680422_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1968},
  month = {Apr},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19680422_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}