Now I know all this sounds silly, but it happens to be an accurate recital of what this administration has been foolish enough to enact into law. The father of the family is a kindly man, so kindly that he borrows all he can to add to the family's pleasure. At the same time he impresses upon his sons and daughters the necessity of saving for their old age. Every month they bring 6 per cent of their wages to him so that he may act as trustee and invest their savings for their old age. And every month he spends the money that his children bring him, partly in meeting his regular expenses, and the rest in various experiments that fascinate him.
Years pass, the children grow old, the day comes when they have to open their father's box.
Roll after roll of neatly executed I O U's. I am not exaggerating the folly of this legislation. The saving it forces on our workers is a cruel hoax. There is every probability that the cash they pay in will be used for current deficits and new extravagances. We are going to have trouble enough to carry out an economy program without having the Treasury flush with money drawn from the workers.