Atlanta Georgian., 1913-03-08
AMERICANS NEED
TO SAVE MONEY
Spending Mania Has People Of
This Country in Its Grip,
Says Forbes.
BY 8. c. FORBES.


NEW YORK, March S-Americans
are spendthrifts Their eagerness to
MAKE money is exceeded only by
their mania for SPENDING it. The
following article on Thrift from the
March issue of Hearst's Magazine, may
be very appropriately published In
this column. for Thrift Hes at the
foundation of finance:
A dollar saved is NOT 8 dollar
gained II is more.
Queer arithmetic? No. The spirit,
the sentiment, the inspiration that
prompts the saving OF the dollar Is Of
Infinite value 1t means that a think
Hng-c has been worn, that stock TAX
SnR has been carried out, and that
Bright conclusions have been reached
OF all material blessings the United
Estates has most need to pray for the
fdawn of an era of thrift Acute pow
lerty is thousand sided curse. The
anortal enmeshed in the coils of debt
scan not face the world with stout heart
land unflinching eye. He can only look
hdown, not up.
Extravaganza and it's children, pow
erty and debt sap the life of a people.
That nation whose savings have
rbeen invested in the industries and
properties OF another land, holds the
lSword over the head of its debtor-as
9ermany recently learned when it
sthreatened 10 defy France.
America sends abroad every week
million dollars in dividends and inter
sest that, through prudence, could have
been kept at home and used for the
upbuilding of our own wealth But
fro NIT , taa Il fI,,,at
asm, the strength and the recklessness
of youth. Americans have spent their
lmoney lavishly. eXtravagantly. thought
Jessly with never "A care for tomorrow
The need for tightening rein be-
comes pressing. If we are to attain
the highest possible place among ma
tions, we must stop squandering our
resources and our strength and must
husband both. History-recent history
TOBIAS shown MS that empty treas
uries have meant empty stomachs on
the battlefield. impotency around the
diplomatic table, and contempt In the
eyes of the world internationally, az
individually, the borrower is at tie
mercy of the lender The nation like
the individual. that can not pay one
hundred cents on The dollar is doomed
to lose caste.
To talk thrift in a land so rich as
America is to incur ridicule Can we
not boast of the wealthiest people on
earth? Is our country not Overlooking
with all that goes to make up for
tunes? Are we not advancing at
rate history has never before known?
Are we not the most envied of peo-
pies? True. all true But even the
sumptuous of fortunes may be dissi-
pated. the greatest strength destroyed
the brightest of prospects blighted by
long continued imprudence.
Speaking only from the financial
point Of view-leavng out the wider
and deeper considerations, political and
ethical-there is special need at this
Juncture for thrift on the part OF
Americans
How much capital. think YOU. did
our great railroad. traction. industrial
mining. and mercantile corporations
seek TO borrow from the public during
the last twelve months? Not one thou
sand millions but more than two thou
sand millions, Try to grasp the figure
-$2 ,000, 900 00O.
From every man. woman and child
in the United States our corporations
are today applying for capital at the
rate of $50 wear. Forty cents each
week they want from every adult and
child under the Stars and Stripes
two dollars for every one dollar asked
by British concerns. They are to put
the position differently, floating as
many new securities as Great Britain
and France combined.
If our national progress is not to be
unduly retarded, this staggering sum
must be supplied. Every penny of it
could be profitahly employed. not only
now. but each year for some time to
come.
Now. this money must first be
SAVED before il can be supplied. Cap
ital does not mysteriouslN spring into
existence. II has to be MADE If
nobody practices economy. if everybody
spends every cent he makes. whence
can come new capital for exploiting our
resources, for cnrChing the country
with railroads for building factories
digging canals. opening mines? I'm
less you have some money to invest is
il not plain that you can not make in
VestmentsH
The thrifty investors are the sale of
nation America has crying need for
million more of them If we are to
lead the world We must rear investors
savers of money.
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