Statement by the President Upon Signing Bill Extending the Interest-Bearing Life of Matured Savings Bonds.

IT GIVES ME real pleasure to approve the enrolled enactment of H.R. 2268. This legislation will be a great convenience to Series E Savings Bond holders who desire to retain their investments in E bonds. Under its authority, the owners of maturing Series E bonds may, if they desire, simply keep the bonds and continue to earn interest on their face amounts for up to 10 more years.

Americans by nature are thrifty, and Series E bonds are popular among a great many of our citizens as a medium for savings. The privileges extended under the new legislation make them even more attractive.

Those bonds offer to even the smallest savers the opportunity of providing for their own future security and at the same time becoming direct shareholders in their Government. A sizable portion of the present public debt is held by E bond owners.

With our Nation again facing tremendous mobilization demands, a vigorous program of personal saving becomes one of the most effective weapons against inflation. Therefore, the retention of maturing Series E bonds, and of course additional purchases of all types of savings bonds, will contribute effectively to the defense program.

I wish to take this opportunity to congratulate the Congress for its speedy action on this important legislation.