St. Paul daily globe., 1893-06-25
SAVING MONEY.

the minds of their boys the Importance
of saving money as religion. In those
days Spendthrift was an OutcaSt. and
a mark o: general scorn. But there
were very few spendthrifts; and rarely
was there an aged person who had not
sufficient means to support him COM
fortably to the end Of his days. There
were few very rich people. the money
of the country being pretty evenly
divided.
We have now very different order
of things. Very few parents ever men,
ton the subject of mopey-saYing to
their boys, and many, if not the ma
jority of our young men, live up their
entire incomes, and are much of the
time in debt. A writer IN a prominent
periodical asserts that very few Of the
young men of America who work for
salaries or wages place dollar Of their
majority of them are constantly in debt.
Another writer asserts that more than
two.thirds of our young men are spend
thrifts. This is an awful charge, and it
Is certainly to be hoped that the writer
has largely overstated the proportion.
But certain it is that the proportion is
large enough to be- disgraceful to the
race.
Wealth used to be accumulated by saw
ing earnings and the money for which
product or merchandise was sold. That
process is generally too slow for the
American of today; he must make his
fortune by schemes which will bring
him immense wadS at frequent inter-
walls, or not at all. Some are brainy
enough to carve out fortunes from
nothing by mere schemes; and others
become rich through mere luck = a
fortunate combination of circumstances.
But those with brains enough to carry
through successful schemes, or who are
the creatures of luck, are very small
per cent of the populace.
The tendency of the times is to trans
act all business upon mammoth scale,
The great department stores are grow
ing more and more popular. and the
time seems to be near when the small
mercantile establishment will be almost
store employs the cheapest help to be
had, and, with the small establishment
out Of The way, the large majority of
the young men who have earned their
living as clerks must find other occupa-
tiOnS. Most other occupations as en-
ployes are already oyerstocked, hence
the clerks must ind great difficulty in
finding work.
AT the rate we are drifting, the time
is not great way off when there will be
but two classes in this country-the
very rich and the very poor. A large
portion of the rising generations are
growing up with extravagant habits
The few with the brains and luck are
centralizing capital through depart
ment stores, railroads, and various
schemes. The time is surely coming
when young man who must depend
upon employment for support will be
compelled to work at so low wages that
by the utmost economy he can save
nothing of his earnings.
With this prospect staring the young
men of the country in the face.it would
seem a matter of the utmost Importance
that every one should, before it els too
late. begin saving his earnings, and lay
for himself the foundation for COM
potency. There are many ways in
which young man can invest profita-
bly, small amount of money, if he has
it. But if he has spent all his earnings he
can seldom do anything with the best
opening.
1t is so very necessary that the youth
should grow up with the Importance
of saving money instilled into their
minds that it is singular our public
schools do not devote some attention to
it. There must be sudden and forci-
bic revolution in the sentiment upon
the subject, or great many of the ris-
ing generations will grow UP TO die pau
pers. We shall have condition of af-
fairs as bad as that existing in Europe,
ard it may be good deal worse.