Statement on Preserving Soldiers' Bonus Bonds.

The National Commanders of the three major ex-service organizations called upon the President today to assure him that they would do everything within their power to persuade veterans to retain the bonds issued to them in lieu of their Adjusted Service Certificates, unless they expected to use the cash for some permanently useful purpose.

The President, as well as the Commanders of the ex-service organizations, feel that the veterans should consider first of all the protection of their families. Immediate and urgent need for funds offers, of course, a valid reason for cashing the bonds.

In the same way, the paying off of indebtedness is wholly reasonable, just as using the cash for something of permanent value such as a new home or the definite improvement of an existing home, would be reasonable.

What the President and the Commanders were fully agreed on, however, is that every effort should be made by the veterans, by their organizations and by all who have their welfare at heart, to prevent the frittering away of cash obtained from the bonds. Permanent advantage as opposed to wholly temporary pleasure should be the criterion.

Those who keep the bonds or any part of them not only can get ready cash at any time if necessary, but while they hold these nontransferable bonds they will receive 3 percent interest on the safest imaginable investment. They are true "Thrift Bonds."

The President and the Commanders feel confident that very many veterans will keep these Government bonds in whole or in part for long-range protection of themselves and their families.