Official Document Text
Source: The American Presidency Project (UCSB Archive)
WHEREAS, our national economic welfare requires the widest possible sale of United States Savings Bonds to the people; and WHEREAS, purchasers of United States Savings Bonds invest not only in the Nation's economic welfare, but also in their own personal security and independence, and it is, therefore, manifestly advantageous to all that the sale of such bonds be vigorously promoted; and WHEREAS, the Federal Government is earnestly requesting business and industrial enterprises to provide for and vigorously promote, by personal solicitation, the purchase of United States Savings Bonds through regular, voluntary pay allotments on the Payroll Savings Plan; and WHEREAS, it is desirable and proper that civilian and uniformed personnel in the Federal Government should be in the forefront of this activity: Now, THEREFORE, by virtue of the authority vested in me as President of the United States, it is ordered as follows: SECTION 1. (a) There is hereby established the Inter-departmental Committee for the Voluntary Payroll Savings Plan for the Purchase of United States Savings Bonds (hereinafter referred to as the Committee). The Committee shall consist of a Chairman and a Vice Chairman to be appointed by the President for terms of two years and the heads of the several Federal agencies. As used in this order the term "Federal agencies" means departments, establishments, and agencies of the executive branch of the Government. Each member of the Committee is responsible for the success of the payroll savings program in his agency. (b) In the event of a vacancy in the chairmanship, or the unavailability of the Chairman, the Vice Chairman will act as Chairman. (c) Each member of the Committee, other than the Chairman and the Vice Chairman, may designate an alternate, who shall serve as a member of the Committee whenever the regular member is unable to attend any meeting of the Committee and who may be authorized to act for the regular member in all appropriate matters relating to the Committee. In the case of an executive department, an Under Secretary, an Assistant Secretary, or an official of the executive staff of the immediate office of the Secretary may be designated as an alternate member and in the case of any other Federal agency the alternate member shall he designated from among the officials thereof of appropriate rank. SEC. 2. The Committee shall perform the following-described functions and duties: (a) Formulating and presenting to the several Federal agencies a plan of organization and sales promotion whereby the Voluntary Payroll Savings Plan will be made available to all uniformed and civilian personnel of the Government for the purchase of Savings Bonds, and whereby all such personnel will be urged to participate. (b) Assisting the several Federal agencies in the installation of the said Payroll Savings Plan and in the solution of any special problems that may develop in connection therewith. (c) Acting as a clearinghouse for the several Federal agencies in the compilation and dissemination of such statistics and information relative to the execution and sales promotion of the Plan as may be deemed advantageous. (d) Recommending to the several Federal agencies any methods for improvements in the program adopted pursuant to the said Plan. (e) The Committee will meet at least once each calendar year and at such other times as may be necessary to carry out its responsibilities. SEC. 3. Each Federal agency shall institute and put into operation, as soon as practicable, the plan of organization and sales promotion recommended by the Committee, with such modifications as particular circumstances may render advisable. SEC. 4. This order supersedes Executive Order No. 10626 of August 4, 1955, entitled "Establishment of the Interdepartmental Committee for Voluntary Payroll Savings Plan for the Purchase of United States Savings Bonds." RICHARD NIXON The White House June 2, 1970