The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1915-06-04
(American Bankers Association

(American Bankers Association
THE SPECIAL NEED OF THRIFT NOW
"he most unmtigated curse the United States
Of thrift DIR Frank Crane.
One Of the questions hear most frequently discussed
in connection with the Europe is its probable effect
business and the cost Of living in the United States
The general opinion among those in position to know
is that nasmuch America will have to feed and cothe
Europe for while well supply many other needs Of the
warrng nations and take over much Of their former COM
with other countries are IN for 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 picture which we must
face The price of living necessities here bound to
to extent and they probably will stay high for long
time to come
Then it is likely that later on year Or two Of sew
eral years perhaps this country will be called upon to help
pay for the great destruction of property and the general inn
poverishent that bound to take place in Europe as
result of this Our share may not be heavy one but
we will have to pay something. sHs
Our fat years may be followed by lean ones So it be-
hooves u.s. and all to follow the example of Joseph in the
Land Of Egypt and lay up in times of prosperity
for possible times Of adversity.
In other words, NOW is THE TIME TO MAKE AND
SAVE AS MUCH MONEY AS YOU CAN against time
when living expenses may be higher and earning opporun
tiles less than they are today.
There have been few periods when the general practice
of thrift by the American people would result in much
benefit to the country as at the present time
The European war by cutting off the supply Of many
foreign goods heretofore used will make it compulsory upon
many people to use American goods of similar quality and
generally Of lower price The consumer will get equal quail
y at lower cost and the money heretofore sent abroad will
stay at home.
One prime necessity, however for the country is in
creased capital 1t may be set down as certain that for
future development here the country will have to rely its
own capital because all Of that Of Europe will be needed for
many years to come to the costs Of the present and
to make good its ravages.
New capital nothing more or less than the margin be-
tween income and expenditures The only way this country
accumulate capital through the savings Of those
whose expenditures less than their incomes The
people who have such margin and the greater that margin
is, the faster capital will be accumulated.
There has rarely been greater inducemen for thrift
than now The man who has surplus can invest it to
better advantage and with certainty Of larger income from
it. than for many years. Probably there was time
when the returns from udiciou investments promise better
than they do 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 ycfe The new markets opening win absorb All the
productive capacity Of the country. I'll as7 sffa
ID MacGregor.