Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1873-12-18
Miseellaneous. q
The Habit Of Saving.

Petty econom les are generally dsa-
greeable TO those who have to practice
them, and they always require much
selt-control; still they are the only
means by which men in general can lay
up provision against sickness or old
age. Liberal expenditures and a
princely style of doing business con-
stltute, in exceptional cases only, the
road to success. More money is some
times made by spending than BY saw
ing. since good credit is hereby es-
tabiished, which takes the place of cap
ltal. and permits an otherwise impossi-
Bile extension of business. But these
instances are rare, and unless unusual
ability and vigilance are employed, adj
venturous spirits come to grief. Among
the large classes that live upon wages
and salaries. there is positively no ex-
ception TO the rule that penny saved
is penny earned. Indeed, in some
instances 1t Is more, since time, that
has a money value, is also wasted in
Improbable expenditure and health
imperlled.
Wastetulness characterlzes our do
mestic economy to an extent unheard
of in more frugal countries. and we
must always eat, drink and be clothed
Hard work deserves 81 lat aptarkel l,S affords.
national maxim, and almost the only
unOelievcrs in it are the strangers with
IN our gates, especially those of Ger
man origin or descent, who are rapidly
accommodating fortunes by their excep-
tional frugality. There is certain
justification for our iberality of ex-
penditure, even upon economical prin-
ciples, for it has been definitely ascer-
talned that the better the workman is
fed, clothed and housed, the more pro-
ductive he becomes as a mere machine.
And 50 it happens that the pauper la
Dor of Europe, the generally alleged
excuse for high tariff policy in this
country, does not produce satisfactory
economic results. Your machine. even
if man is only regarded in the light of
producing agency, must be kept in
good order, otherwise its products are
meager. There is no economy in de-
prvlng ourselves of an abundant sup
ply of nourishing food, decent rairnent
and healthful shelter but this affords
no excuse for the prevalent sin of
waste, nor does it justify spending
hard-won wages upon expensive deli
cacles. unnecessarily large habitations
or costly triiles. There is far too slav-
ish 4 subserviency to fashion among
all classes. Economy in this respect
would not only save money, but tend
to create a much.needed independence,
both in dress and our whole manner
Of life.
If the large deposits in our savings
banks are cited to show that the habit
Of saving in this country needs little
stinulus,.it should be remembered that
the petty capitalist has become a large
depositor in those institutions, espe-
cially in some Of the country banks,
where the rate of interest amounts in
some instances to seven per cent.
Even six per cent. yields a larger
revenue than can be obtained upon
investments upon bond and mortgage
in New York city after taxes are de.
Quoted. Therefore the large amounts
in our institutions are not fair critic.
rion of the savings of our laboring
classes.
The only absolutely certain way is
to begin with the children, and ac-
custom them to self-control and self
denial by saving portion of their
pocket money, or the earnings of odd
minutes. There will be even a greater
necessity for economy in the next yen.
GRAFTON than in this, since now the
bounteous gifts of nature are being
very lavishly drawn upon, and our sue.
cessors are likely to live under mar
rover conditions than We do. The
city of Ghent, Belgium, has set us u
good example in this matter. Without
Government influence, and mainly
through the instrumentality of the
school masters and school mistresses
OF that city. five-sevenths OF the chill
dren who attend the schools have be-
come savings-bank depositors. They
bring their centimes to their teachers,
who deposit for them and 1882 of
the attendants upon the schools are
thus practicing frugality. Out of T.
9S9 boys and girls in the primary
schools, 1883 have savings-bank ac-
counts, the aggregate sum deposited
by them, according to a paper read be-
fore the British Association by J. G.
Eitz, being 274,6O2 francs. In the
infant schools (the habit of saving
begins thus early) there are 3,O39 chill
dren, of whom 1920 are depositors of
76,523 francs. In the primary schools
for the classes who pay for instruction,
there are 1919 scholars, GAO Of whom
deposit 22,687 francs; and in the
schools for adults, held evenings aud