In 1942, the Treasury Department approved the use of a payroll deduction plan 
for the purchase of War Bonds. This later became known as the Payroll Savings Plan, and is still available electronically today.

        
       Ed Donahue

The New York Daily News ran the above headline the day after U.S. President
Gerald R. Ford said he would veto any proposed federal bailout of financially
troubled New York City.