Memorandum on Appointing a New Chairman of the Interdepartmental Savings Bonds Committee.

Memorandum to the Heads of Departments and Agencies:

I have appointed the Secretary of Agriculture, Earl L. Butz, as Chairman of the Interdepartmental Savings Bond Committee, replacing Maurice H. Stans. The Secretary of Defense, Melvin Laird, will remain as Vice-Chairman.

The Savings Bond program is making a major contribution to the management of the public debt. What is equally important is that it is adding to the economic security of all individuals who take part. The success of this program owes a great deal to the participation of Federal employees in the Payroll Savings Plan. Because they are vitally involved in the operations of our government, the example they set for others means much. Savings Bonds are important to the nation, and the leadership of the Interdepartmental Savings Bond Committee will encourage all employees under your direction to save regularly through the purchase of "Shares in America."

RICHARD NIXON