Lyndon B. Johnson photo

Remarks on the Appointment of the Postmaster General as Chairman, Interdepartmental Committee for Savings Bonds

March 18, 1966

Ww have come here this morning to welcome Postmaster General Larry O'Brien into still another very important job. Larry is going to assume the chairmanship of the Interdepartmental Committee for Savings Bonds. There is no task being performed by any officer of this Government that is more important at the present time.

Every savings bond is a contribution to our national security. Not all of us can help directly to win the fight for freedom in Vietnam, but every one of us can do his share to support our men who are out there in Vietnam fighting for us.

Every one of us, by participating in the savings bond program, can help to bear the cost of conflict.

Every one of us can contribute to conserving the buying power of our American dollar.

During the 3 1/2 years that John Macy has served as Chairman of this Committee, there has been a substantial growth in the rate of savings bond sales throughout the United States Government.

The President, the Vice President, all the members of the Cabinet have already enrolled in the savings bond program and buy their bonds regularly. I want to see every single employee of the Federal Government helping to set an example for the rest of the Nation to follow. With the higher interest rate that I recently announced, the bonds that we buy now will earn more money. Savings bonds are today competitive with most other forms of saving and there is no form of saving which does more direct good for this country of ours that we all love.

I would like us to eventually double the holdings of these bonds among Federal employees. I realize that all of us have many personal needs, obligations, responsibilities. Some will not be able to participate as fully in the payroll savings program as they would like to or as their neighbors may be able to. But I do believe that every Government employee can and should participate to some degree.

I do not hesitate to ask all of you to do that. For the program is not only patriotic, it is also prudent. Each bond that we set aside strengthens the financial security of our own families as well as the economy of our own country. So I again urge every Federal department and agency head to devote his very best efforts to expanding this vital program under the leadership of its new, popular, dynamic Chairman, the Postmaster General, Larry O'Brien.

I am grateful to all those Government employees who are already buying bonds through the payroll savings plan. And I urge them now to increase their purchases if that is at all possible. And I urge those who have not yet entered the program to enter it--enter it at the earliest possible opportunity.

There just is no better investment than the United States savings bond--for it is a direct stake in the future of your country.

Note: The President spoke at 11:45 a.m. in the Theater at the White House. During his remarks he referred to John W. Macy, Jr., Chairman of the Civil Service Commission.

Following the President's remarks, Postmaster General Lawrence F. O'Brien and Secretary of the Treasury Henry H. Fowler spoke briefly. Their remarks are printed in the Weekly Compilation of Presidential Documents (vol. 2, p. 405).

Lyndon B. Johnson, Remarks on the Appointment of the Postmaster General as Chairman, Interdepartmental Committee for Savings Bonds Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/239571

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