The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-02-01
SUNDAY. FEBRUARY I. 1914.
Spenders AS the
Benefactors of Trade.

There is one fact which is often
overlooked by the student Of econom-
tcs, and that Is that spending is not
always wasting. The wealthy are fire.
quently censured for their so-called
extrayagances, when, through these
very expenditures. life Isl given to trade,
and work Is afforded hundreds who
would otherwise be without employ
noent
The falsest economy in the world is
letting money lie idle. It is like land,
r3eh in possibilities, which loses its
values. because It lies fal1ow. Money
IL medium Of exchange When hoard
cd, IL loses it's character for it be-
comes entirely disassociated from its
primary reason for being
The spenders are the benefactors of
trada Where money il put into cir
enfation. it gains Immediately In
value
It Is frequently charged that the
high cost OF living Is due to too much
spending and wasting. But it must be
remembered that every time one man
spends q dollar. another man profits
by it
The most reckless and prodigal
spending gives a stimulus to trade, and
where trade is stimulated, employment
Is given to many who need employ
ment
The miser is far greater detr!-
ment to trade than the spender
Whenever people are forced to facs
a financial crisis, there is the invar-
iahle cry for economy. And economy
is fine thing, if it is the right kind
of economy. But economy does not
always lie in boarding. The root of
tie evil OF spending lies in tue abuse
of the credit system
During the last fifty years the
credit habit has grown far beyond its
legitimate bounds, and it Is time for
this reckless habit of the American
people to be curbed
Fifty years ago men, especially OF
the south, spent money free.y. But
they did not go into debt freely. Fifty
years sgo, debt was considered mere
or Jess of disgrace.
Today half the world lives on credit.
trade. 1t is not legitimate spending of
your own money. 1t is the reckless
spending OF other peoples m oney.
What the American people W ant to
do ts to learn to live within tie in
connR. The average that IS being
struck In the mode of living in this
country, tends to produce extravaganza.
One person vies with another in the
mode Of living, and It is an easy thing
10 buy on credit when one has not got
the cash. In fact. it is too easy, for the
safety Of trade conditions.
During the present year it should
Re the effort of every man and woman
in Pensacola to live within the income
Net to stop spending. but to stop
wasting. Every cent of Pensacola
money should be spent in Pensacola,
and back debts should be paid up, be-
fore new ones are made And new
ones should not be made, unless the
creditor is well protected.
What Pensacola needs is not less
spending, but more spending. What
Pensacola does not need is the re *
less hatii of credit and more credit
To great extent this has BEEN
curheo. during the past six mont IS
There is nothing in the world that can
help Pensacola so much--no new IN
dustries, no commercial activities, NJ
civic improvements the spending
OF Pensacola's money in Pensacola;
the curbing of the credit habit; and
the living within the means, on the
part OF Pensacola citizens
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