Over the past decades and even centuries, the astronomical community has accumulated a signif-icant heritage of recorded observations of a great many astronomical objects. Those records con-tain irreplaceable information about long-term evolutionary and non-evolutionary changes in our Universe, and their preservation and digitization is vital. Unfortunately, most of those data risk becoming degraded and thence totally lost. We hereby call upon the astronomical community and US funding agencies to recognize the gravity of the situation, and to commit to an interna-tional preservation and digitization efforts through comprehensive long-term planning supported by adequate resources, prioritizing where the expected scientific gains, vulnerability of the origi-nals and availability of relevant infrastructure so dictates. The importance and urgency of this issue has been recognized recently by General Assembly XXX of the International Astronomical Union (IAU) in its Resolution B3: on preservation, digitization and scientific exploration of his-torical astronomical data. We outline the rationale of this promotion, provide examples of new science through successful recovery efforts, and review the potential losses to science if nothing it done.