Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1909-12-21

II
deposit, which invariably will. have
grown into goodly size when the re-
cipient has reached maturity. Having
nursed It's people through the early
stages Of economy. 1t directs their
steps in the choice Of investments. and
even assumes paternal power IN arbi-
i trarily Transforming the savings bank
account into government bonds, or
rents. Thrift is a national character
istic. France Is a nation of little saw
ers, Of little incomes, and Of little
farms. Collectively, these exercise a
tremendous power on the affairs Of
F! Europe. The holder of the one or two
franc bond and the possessor of the
bank account, so small that bankers of
other countries would scorn 1t, have
built up a monetary power that COM
mands the respect of the world, and,
Indeed, regulates the finances and poll
tics of much more presumptuous ma
| tions.
Bonds Of states and governments, Of
railroads with a government guaran-
tee, bonds of cities and towns, Of
mortgage companies, are the French
mans choice. His portfolio contains
the most varied collection Of govern
ment securities imaginable. It is safe
TO say that, In Paris, coupons are cut
from the bonds Of nearly every govern
ment under the sun. Too often the
IFrenchman gambles and loses In min
ling shares, He will have none Of his
own country's Industrial issues,
Something over two years ago, IN
the Review Of Reviews, exploited the
fact that France had captured from
Great Britain the title Of worlds
hanker," and that 1t was in Paris In
stead of to London that the borrower
Burned his steps. The shack of this
statement to British pride was consld-
erable. 1t was controverted. After thu
1907 panic, English bankers pointed to
the manner with which the Bank of
England had guided the nations
Through the monetary crisis. BY ad-
lyancing It's discount rate to per cent,
gold was automatically brought to 1t
from all corners Of Europe, With this
gold, debtors, whether individuals, cor.
porations, or governments, were salts
fled. But France and the Rank of
France stood In the background, and
really supplied most Of the yellow me-
tai, 30 that, when these debtors began
to lIquidats, they found that France
end the Bank Of France were, In most
cases, their creditor,
To-day France, even mere than in
1906, Is the worlds banker. Her mex
haustible supply Of funds waiting for
investment Is the wonder and the envy
of all foreign bankers. Wares come
and CO. acute political crises follow
fast after. each other In mercurial
Continental Europe, and panics aatten
industry and draw sharp cleavage be-
tween creditor and debtor, Through
all these changes and chances the great
middle class Of France continues to
save enough from It's income to finance
countries with much greater industrial
wealth and to fill the vaults Of the Bank
6t France to overfowing with gold.
The shores Of France are layed with q
golden flood that never seems to ebb.
How could 1t be otherwise In nation
that so carefully trains its people 10
save and splits UP Its government debt
certificates into pieces Of one, two and
three francs twenty to sixty cents)
Of whose ten million electors nine
tenths are investors, and where, Of
twelve million five hundred thousand
savings bank depositors, over fifty per
cent have less than four dollars to
their credit. in bank"
A business man Of sixty recently
gave some valuable testimony In the
columns of the New York Telegraph
on the relation 9f waste and failure:
He estimated that he had wasted about
onc-hfth Of his time since he was ten
years old.
II am a failure, a medieerity rather,
which probably is as bad, If not worse,
than an utter failure: fall lulFre:: Sometimes, years
ago, used TO kick and blame others
because was not a brilliant success.
In fact, without boastins, should
have been a success. I am quite eley=
er, 1 know my business, I can sell
stuff, and can hustle as hard as any
one, ! am a fairly faithful WORKER and
have the experience and have had the
backing. Yet ] have failed:
The day was sixty years old ]
made soRe calculations based on solid,
sober fact, simply to shew them to my
boy, whe Is growing UP, ! hope. at
least to be a bit different from his
father. had found out several years
before why failed, and made these
calculations to make it palmer to him.
Perhaps the figures may help some
other young fellow.
Plainly, as ] found out after blam'
ing everything else, was not a fairly
successful man because ! wasted too
much time. In fact, ! wasted over
eight years Of time out Of fifty avail
able for work in which I should have
been doing something to advance or
improve myself, ! was, and am, mod
erately well fixed, II I had availed
myself of that time which I wasted
carelessly, and added the results to the
small things ! have achieved, my fam
lily would have had little more than
my life insurance to depend upon.
When I speak of time wasted, 1
mean time which actually was wasted
not hours devoted to serious thought
are refiection-hours often the best Of
a mans life.
These are the figures that I pre-
pared for my son.
Hours.
Oversight ten minutes a day for
fifty years mr.. N : :! 1850
Wasted hunting. lost things,
twenty minutes a day for fifty
years ............ .....'...'.. ivy
Talking uselessly thirty minutes
a day for fifty years :::::::::: sloS
Waiting for cars ten minutes a
day for fifty years ...:.:.::::: 3,44e