The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-07-31

hof SObAS W ACoA Shot nv
reason why so many men are in
the down and out class is the
lack of thrift - III. w. Hoot,
Secretary Bowery Branch, Y. NJ.
G.. A, New York City.
When Assemblyman Peter Sven
son came to Iowa thirty-six years z
he had $1.25 in his pocket. Now
he own LOO acres of the best land
in O'Brien and Sac counties. Pete"
couldn't speak a word of English
when he came to Delaware county, a
green, friendless boy from the old
country. He had been educated in
an agricultural college. where he
studied scientific dairying. He
worked three months as a hired hand
on a farm and was swindled out of
his meager pay, but he kept right on
smiling and fighting.
Soon he began to get into the
commission business, buying eggs
and butter for a New York COM
pany He saved, but didn't scrimp.
The banks began to know him we'll
and favorably.
Land values grew as Mr.. Swenson
became yearly a greater authority
in scientific butter making and in
the commission business.
He didn't claim to be smarter than
other people because he has male a
hundred thousand dollars or so more
than the average person makes in a
lifetime, but he says he has ismply
used horse sense in working and
saving and looking out for oppor-
tunities.
Mrs. William Murphy is what is
commonly known as a grass wild
ow." Her husband left her and her
little child-a daughter-many years
ago and has never been heard from
since.
But Mrs. Murphy did not let any
grass grow under her feet if she
was a grass widow. She soon made
up her mind that she was a real
widow, and as there was no Phillip
to help her as there vas to help
"Enoch Arden's" wife in Tenny-
sons poem, she went to work as a
laundress and seamstress to support
herself and her little girl.
Luckily she was a strong woman
and her health remained good. She
was thrifty, too, saving a part of
every dollar she earned. Before
winter came she vas always able to
fiji nm hnr n0oI hi,, aud lou in n nAnl
stock of vegetables, saving "a consid-
cradle sun by buying early and in
quantities. Her savings in the bank
grew steadily by her regular deposits
and the gradually increasing ON
pound interest credits.
Whenever she had enough saved
fer a permanent investment she con-
suited an officer of the bank and
took his advice as to a safe use of
the money. She was able to give
her daughter a good education and
the young o has a good
teaching position and is able to help
her mother in keeping up their COM
Portable home. There is regret for
the husband and father who never
appears, but real thrift has kept want
away and restored what might nave
been a ruined home.
A banker, long an officer of the
oldest bank in Minnesota, in telling
how four young men developed a sue
cessful business, said:
Their first visit 20 the bank really
established their credit. In that
first visit they left their bank books
for collection of the amounts due to
each of them at their savings bank
in the city from which they came.
These savings bank books repre-
sented their cash capital, but to me
they represented more than that.
Their deposits and almost entire alb
sence of Withdrawals indicated an
established habit Of saving on their
part and also on the part of their
families (for they were all married)
for the purpose of carrying out this
project which they had planned a
long time ahead.
with such determination for
work and willingness to deny them
selves in order to save something
each month out of their earnings, 1t
was hardly possible for these young
men not to succeed.
They had been highly successful
because they acquired saving habits
early in life and thereby accumulated
their capital before entering business
for themselves, while SO many +
rot willing now to practice any self
denial, but somehow always expect
to begin saving at some future
time. with the result that they never
acquire the habit or capital.
"A banker necessarily takes these
various things into consideration
when asked to grant a line of credit.