Pine Bluff daily graphic., 1914-10-11
TALKS ON THRIFT. THE SPECIAL NEEDS UF
 THRIFT NOW,
The most unmitigated curse
of thrift. pr. Frank Crane.

u thIllt. -Df. Ffank Crane.
 One of the questions we hear most frequently discussed in connection with the war in Europe is it's proba- ble effect on business and the cost of living in the United States.
 The general opinion among those in a position to know is that inasmuch as America will have to feed and clothe Europe for a while, as well as supply many other needs of the war ring nations and take over much of their former commerce with other countries, we are in for a period of great business and industrial activity in this country. Factories and mills will be humming for many months.
 But there is another side to the pie ture which we must face. The prices of living necessities here are bound to rise to some extent, and they prob ably will stay high for a long time to come.
 Then it is likely that later on, in a year or two or in several years per haps, this country will be called upon to help pay for the great destruction of property and the general improve aent that are bound to take place in Europe as a result of this war. Our share may not be a heavy one, but We will have to pay something.
 Our fat years may be followed by lean ones. So it behooves us, one and all, to follow the example of Joseph in the Land of Egypt and lay up re- sources in times of prosperity for pos- sible times of diversity.
 In other words, NOW IS THE TIME TO MAKE AND SAVE AS MUCH MONEY AS YOU CAN against a time when living expenses may be higher and earning opportunities less than they are today.
 There have been few periods when the general practice of thrift by the American people would result in so much bnefit to the country as at the present time.
 The European war, by cutting off the suplly of many foreign goods heretofore used, will make it com pulsory up many people to use Amer ican goods of similar quality and generally of lower price. The con- sumer will get equal quality at lower cost and the money heretofore sent abroad will stay at home.
 One prime necessity, however, for the country is increased capital. It may be set down as certain that for future development here the country will have to rely on it's own capital because all of that of Europe willsbe needed for many years to come to pay the costs of the present war and to make good is ravages.
 New capital is nothing more nor less than the margin between income and expenditures. The only wsy 1a1s country can accumulate new capital is through the s;iElngs of those whose expenditures ar-, less than their in come The more people who have such a marSain and the greater that margin is, the faster capital will be accumulated.
 fl,ere las rarely been a greater in ducement fol thrift than now. The man who has curplus can invest it to better advantage and with cer- tainty of a larger income from it than for many years Probably there never was time when the returns from pudisious investments promise better than they do now and will for some time in the future. And industry will not be adversely affected, even # the practice of thrift becomes general and there is less personal spending than of wore. The new markets opening will absorb all the productive capa- city of the country.
 T. D. MACGREGOR.