Arizona republican., 1895-05-30
PHGNTG. MAY 30, 1895.
AN IMPORTANT LESSON.


 One of the most important lessons which the people of the United States are learning as the result of the two years of business and financial depres- sion is that which teaches the wisdom of economy. It is not economy in the public sense to be niggardly, but the true economy is one which suggests sav- ing in times of pros perity and prepara- tion for possible future distress.
 There is large proportion of thrifty and saving folk In the United States as is shown by the many millions of dol lars deposited in the savings banks, in- vested in loan associations and paid as premiums upon insurance policies. The population of the United States is not altogether given up to the habits of spendthrifts, but there has been too much Of "easy come easy go'' for many Jo~ho' A1 odo calnS tlme IAis IS laTEo- ly the result of an ambition to own homes, to dress well, to enjoy passing pleasures, to travel and to be merry. A nation of spendthrifts is always in danger ot trou bic, but a nation of misers would retard progress in every direction.
 What is needed is happy medium, by which the future is considered as much as the present, by which rational enjoyment and all ordinary comforts gre secured without impoverishing the people. One of the sources of troub among the wage-earners, and they largely predominate, is the credit sys- tenn adopted by retail merchants. The abuse of this system brings ruin to the merchant and trouble and distress to the buyer who keeps in debt. There is not merchant in this city today who IS not carrying upon his books hun- dreds of dollars which he will never be able to collect. This is done at the ex- pense of the thrifty cash customers. who make 1t possible for many men to continue to trade. If every man bought his shoes, his clothes, his fam lly's clothes, his meat, his groceries, and his every want upon long credit many retail merchants would go to the the wall. If every man who can would pay cash, and DO one would buy unless he had the cash to put down prices would fall so as to conform to the bet. ter conditions.
 There are, and there have been in the past, many folks unable to pay down the cash, but there are too many who waste in luxuries what they should pav for necessities. That is the cause of un- paid tailor and shoemaker bills. Al HIGH Wbo CduuOt huUTu to pay ms grocer cash cannot afford to buy iewelry for his children. There has been too much of this Tn the past. The condi- tions for two years have been such, however, that those who have suffered are protiting by their experience. As an illustration of what thrift will do for nation the Atlanta Constitution has this to say:
 In France nearly every person saves some thing for 8 rainy day The habit is almost universal, and those who earn the least are suTs to be found in thts great saving class. The enc2 sav'ngs banks have more than S,0Oo,0OO dep sltors, and their deposits amount to s8OO,- 000,000 and this large sum is made up of small sm ,uats
 Tn French schools teach the children to save money, and rhe most frequent prize given t0 a brig ht pupil IS a savings bank book with sm4li su4.. .o the credit of the owner. This is gi e. where in this country we would give mi l or booZ.
 When community has 8 lot of money de- poaIted ii savings bank 1t is easy to borrow