Memorandum From the President on the United States Savings Bonds Program

Memorandum for the Heads of Executive Departments and Agencies

In 1978, I appointed Ray Marshall, Secretary of Labor, to serve a two-year term as Chairman of the Interagency Savings Bonds Committee. I am confident that with your help he will be able to ensure that the 1979 Federal Savings Bonds Campaign is a most successful one.

Participants in the Payroll Savings Program choose this method of saving for a wide variety of excellent reasons. Whether their goals revolve around providing higher education for their children, a more comfortable retirement, or a ready reserve in the event of personal emergency, they all recognize this program as a safe and convenient means by which to save.

It is also important to understand the degree to which our government and our country benefit from the sale of U.S. Savings Bonds. Today Americans own over $80 billion worth of these securities. These holdings constitute nearly one-fifth of the publicly-held portion of the Federal debt, helping to protect the value of the dollar and stabilize our nation's economy.

As the heads of Departments and Agencies who make up the Interagency Savings Bonds Committee, you have the special responsibility of offering and promoting the Payroll Savings Plan to each and every Federal employee. I know you will carry out this responsibility with your usual diligence and attention.

JIMMY CARTER