Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-04-12
MONEY SAVED.

a friend. writing to the News
takes exception 20 "A statement made
in these columns some time ago, 20
the effect that Money saved is not
money withdrawn from circulation. I'M
Tess 10 happens to bc boarded as by
miscrs. in secret places. n put into
banks. as in ninety-ninc eases out OF n
hundred is the case. it is money thrown
into circulation for the banks take
.ara to lend il out Moreover since
tho banks lend out more than Is &C
usuy deposited with them. IL Is dou-
riod. somotimes treblod, as a circulat-
me medium. simply being saved"
our correspondent encloscs IN his
letter clipping from some paper I'm
which saving and banks are denounced
m rather vehement terms. There
has," the writer says. been a great
advance made In the understanding Of
The masses about these questions in
.he last ten years Yes. YOU mon In
1veralls save your money and hand it
over 90 the banker so he can dress
biz family in silks and hire your chill
qron For servants That is why that
article appeared. To control the money
4 % nation Is 20 cnslave the people Of
hat nation"
We fear that there r. absolutely no
understanding about these questions"
lmone those who write and accept as
truth such unreasonable appeals TO
rreiudices. as this. We insist that
The man who saves money and builds
h'r,-eif home. not only provides for
himself an Income. inasmuch as he
-'nces himself in a position 20 keep
Pop his own family the rent money he
would have 10 pay to a landlord had
no. NO home of his own; but he also
furnishes employment by the money he
has saved. TO the extent of the cost Of
me home. since he employs masons.
carpenters. painters. etc. etc. 10 build
{ for him. and host Of other 70 fur
lish the various kinds 81 materials
aceded And II many men save and
invest in a similar manner. there Is
general employment
The same is true of the man who
.aves money and buys farm which
le works. Tie puts his savings where
4 produces something for the benefit
p an.
This is no less true Of the man who
saves money and puts Il into bank
Instead Of investing II himself the
bank invests Il for him. and pays him
part OF the proceeds Of the invest
nent. The money IN the banks Is, Of
course. not idle II Is. In fact, a great
Heal more effective when collected into
large sum. a bank has been Tx
sned 20 a great reservoir which Is filled
bv numerous streamlets. Each OF
these little streams would not run any
hing more useful than a coffee mill.
but the united stream Is powerful
enough 10 run machinery and keep fac
tories going where thousands find EN-
oloyment. II furnishes power for light
and street car systems, etc. As the
water collected I'm the reservoir from n
thousand streamlets can be used 10
vreater advantage In the service OF in
sustry than each separate stream, so
The money put together in a large sum
is more useful. gives more employment
than the smaller amounts can do as
long as they are floating around in In
lividual pockets or other receptacles.
Money invested in homes, in business,
% food. In clothing. or deposited In
banks. or when paid out for works Of
literature and art. is money saved.
Money paid for anything that is really
aeedful and useful is money saved. We
90 not see how this proposition can be
successfully controverted.