Liberty's First Dividend.

The first coupon of the first Liberty bonds falls due on Saturday. An event that will be in the lives of several millions of us.

For consider that before we entered the war not more than one in a dozen of the buyers of first Liberty bonds had over been the owner of a bond, and a considerable number of those who own "3 1-2 per cents., U. S. Gov., 1947," had never set eyes on a bond of any description.

Scissoring a Liberty coupon will therefore be a wholly novel experience to many who will tackle the not arduous task. Whether the coupon is for 88 cents or $1.75 or much more, the thrill will be there. And with it will arise the question what do to with this accession of income.

Christmas will supply the answer for many; charity, especially war charity, will receive much of the Liberty dividend. Others will cash the coupon with the postmaster and immediately hand him back the money, with a request for thrift stamps or war savings stamps. Still others will simply deposit the coupon at the bank and be credited with so much more paid on their second Liberty bonds.

The most profitable way of employing the coupon is undoubtedly to use it for the purchase of war savings stamps, which bear 4 per cent, interest compounded quarterly, and Liberty dividends so invested offer the best, most direct and most immediate aid to Uncle Sam, who pays them. --New York Sur