CO ee ew we ee

30 - Sunday, December 14, 1986

- North Shore News

UR AMATO NG fa Teepe alo,

ned Baca eae wales i

Canada
Savings
onds
| celebrate |
[40 years |

“AT FIRST,” said Furn Francis,
who helped to organize the first
Canada Savings Bond campaign in

1946, ‘‘people didn’t believe they
could cash in their bonds at any
time.”

“A few miners at Copper Cliff
even went to the bank to see what
would happen if they tried to cash
them in. When they found they
could, they took their bonds back
and went home. After that, it was
a lot easier...””

Francis, still active as an in-
vestment dealer, remembers going
to Ottawa to help convince gov-
ernment officials to create a bond
that would not fluctuate in price.

It was important, he felt,
because CSBs would be bought by
people who had little knowledge of
the bond market and how it work-
ed.
“People had to feel they could
get back every cent’ they invested
— at any time. Jt was an important
selling point 40 years ago...and an
important selling point today.”’

Canada Savings Bonds trace
their origin to the dark days of the
First and Second World Wars,
when Ottawa raised billions of
dollars through Victory Loans to
finance Canada’s war effort.

For many Canadians, who had
just come out of the Depression, it
was the first time in their lives they
had been able to save.

_In those days, the appeal was
strong and aimed straight at‘ the
heart. Nothing...and no one...was
spared or overlooked. Patriotism, _
religion, family, love and even
guilt were pressed into service; the
illustrations, strong and compell-
ing.

It was, as early newspaper ads in
1942 noted:

‘SA war of peoples — not just
armed forces, Somewhere your
opposite number is living on a
meagre margin, sacrificing every

. day to win the war. Compelled to

do it...””

“You slept well that night,
didn’t you? But George was at
Dieppe...”

“If this were your boy, woulan’t
you back him up to the limit with
planes, bombs, guns...’’

And on a more positive note,
there was this prophetic appeal:

“‘There’s a great future for you
and your boy in Canada...if we
win the war and if you have been
working and saving for vic-
tory...the college education that
Victory Bonds wil, buy for your
boy...that new home with labor-
saving gadgets that will make
housework all play...and there’ll
be holiday jaunts in amazing new
cars and even airplanes.”

Paul Melancon, a Montreal in-

vestment dealer, who also sold
Victory Bonds as weli as CSBs
during those early days,
remembers one client whose son
was in the war and who thought
his bonds were a form of donation
to the government.
’ The Payroll Savings Plan proved
especially popular. Since 1946,
when $114 million was purchased
on the Payroll Savings Plan, some
$18.1 billion has been acquired by
working Canadians under this
program — $1.6 billion in 1985
alone.

“Everyone should save —
regardless of how much he or she
has,” says-Prandis.cs ce eee ees

[ nt ERNE
EIGHT OUT of 10 Victory Bond buyers indicated they wanted to save
through some kind of governmert-sponsored pian after the Second
World War. Canada Savings Bonds were created in response to this de-
mand and when the first issue weut on sale in 1946, the big switch was on
— as this 1946 cartoon shows.

ie North Vancouver City Library

me wishes a

y Merry Christ:

to afl patrons!

ais

Attend our Open House and book draw
Saturday December 20.
Christmas Eve and-‘New Year's Eve hours
10-4:30 p.m.

121 West 14th St. N.V.

flyer schedule

Now you can plan your
shopping ahead, and
save more in the Se .

bargain. “ a
ene

The follovang Ayers wall be arriving *
Hs corn week ae the North
Shore News All loaded with
sovings, a0 you Gan be
vchete the values ate
when they happen

Uf you miss any of these fiyeru,

callthe North Shore Nows

Circulation Department
pee es ee ®

On the North Shore since 1458

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Every Friday
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igie

SESS a
Leif & Danny Jorgensen
_ Leif and Danny Jorgensen deliver 162 Sunday
News in our Lonsdale Zone. They have been car-
riers for over two years now and the service they
provide is excellent.

Both boys attend school at the New Life Chris-
tian Center. Leif is 11 years old and in grade 5 and
lists French as his favourite subject. Danny is 9 years
old, attends grade 4 and enjoys Math. Both boys
play soccer, hockey and baseball. They also have
fun at home, wrestling with each other.

Most of their earnings from the News have been
put in the bank, for the future. Leif and Danny have
been able to do all their Christmas shopping with
their own earned money.

We enjoyed meeting these fine young carriers and
for being our double stars they received, complimen-
tary movie passes, North Shore News baseball caps
and a special thanks for a job, very well done.

THE VOICE OF NORTH aN WEST VANCOUVER

Joan Cripps
Circulation Dept.
1139 Lonsdale Ave., N.V.

986-1337 _