Part 85, page 324

Transcript

The scan is the source; the transcript is machine-generated from it.

Dollars & Sense COMPLIMENTS OF TERREBONNE BANK & TRUST P. O. BOX 5035 HOUMA, LOUISIANA 70360

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about 18½ million were issued. Weak public demand, primarily a result of the $2 bills' relative scarcity, contributed to the discontinuance. By contrast, 225 million of the new series 1976 bills were available on April 13, 1976, and about 400 million notes will be circulated by this summer. The reissue of the two-dollar denomina- tion was prompted in part by a Harvard School of Business study that showed a need for a currency between $1 and $5 bills. In addition, the new $2 notes are ex- pected to cut the volume of $1 notes in half over the next several years, which should result in a savings of about $35 million for the Federal Reserve System and the Treasury Department. The new $2 bill, issued on Thomas Jef- ferson's birthday, bears his portrait which was painted in the early 1800s by Gilbert Stuart. The face plate is quite similar to the previous issue. The design of the reverse plate of the bill is completely new. It bears a vignette of John Trumbull's painting, "The Signing of the Declaration of Independence." However, design considerations re- quired that six figures appearing on the extreme left and right hand borders of the original art were dropped in the ren- dition. The two-dollar bill is being issued in con- junction with the Bicentennial. However, it is seen as a permanent addition to currency in circulation and will continue to be issued in subsequent years.

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THE TWO-DOLLAR BILL— A BICENTENNIAL REISSUE

The crisp new $2 bill that you may have in your pocket or purse has a rich tradi- tion in American History. Two hundred years ago, June 25, 1776, just nine days before the signing of the Declaration of Independence, the Continental Con- gress issued the first two-dollar "bills of credit for the defense of America." Since 1862, they have been issued as official U.S. currency appearing as U.S. notes, silver certificates, treasury notes, national bank currencies and Federal Reserve Notes. Two-dollar bills were last printed in 1965 and were discontinued in 1966. Only

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SAVE to Beat the High Cost of Education

Today's cost of educating your child in a typically priced private college is just over $12,000. The cost, however, has over the past five years risen 5 percent per year. That means, next year and each year thereafter the cost to you will continue to grow. Now is the time to begin saving for that future education. Let your accumulating savings interest offset the rising cost. The important question for you to face is—How much do I save each year to accumulate the necessary funds to meet the rising costs? Economists suggest this formula:

Amount to Estimated yearly save per = expense x 4 year # of years till college + 3

Suppose you decide to send your child of 9 to the typically priced private school. You must save $1000 per year.

$1000 = $3000 x 4 9 + 3

The estimated yearly expense of $3000 times four years of school divided by the nine years left until she starts college plus three equals $1000. Remember the accumulated interest on your savings account each year more than offsets the rising cost of higher education. But beware—the later you start saving the more you must save each year.

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DB Cooper-37732