Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1916-07-02
STRICT ECONOMY
NOW PRACTICED
BY The English
Effort of All Glasses to Aid
by Conserving Resources
Easily Observed,
LARORING GLASS
PLAYS BIG PART
Thrift Is Urged by National War Sav-
ingS Committee That Britain May
Obtain Funds Needed to Prose-
cute the War.

Correspondence of the Associated Pressl
London, June 11.-Now that Eng
land is putting all Of herself into the
war, the serious effort Of all classes
TO aid by the strictest economy may
be observed on every hand. In the
words of an expert at the treasury:
"Englishmen, especially the work
ing classes, ordinarily regard strict
economy as a mean thing to practice,
but the belief gradually is taking hold
of them that victory cannot be at
tanned unless the civilians left behind
carry out the dull duty of saving their
money and placing it at the disposal
of the government for the prescott
ton of the conflict"
The part being played by the work
ing classes in this national economy
stands out prominently in the every
day life During the first II weeks of
the sale of the governments war saw
ing certificates working people paid
into the treasury ST. ,655, 900 or an
average Of 100000 weekly. The pur-
chasers ranged from munitions work
ers and farm hands to servant girls
and tea-shop mattresses. Tho certifi-
Gates yield interest at five per cent,
compounded for five years, being pur-
chased at about 1912 Gifteen shillings
and six pcnce), and emitting the own
er at the expiration Of the five years
to $4.87 Ga pound.
In addition to that sum the work
ing classes are responsible for large
share of the total of $500 sos 900 that
has been paid through the postoffice
and trustee savings banks for portions
of the four and a half per cent war
loan. Then again they have had a
share in the $100,000,000 worth OF
postoffice eXcheouer bonds purchased
during Is weeks up to May IS, last.
Incomes Of Many Increase,
Yet conditions here arc paTadoXlcal.
Perhaps no such situation ever existed
in any country before. While large
numbers Of people, either through de-
probation in their trades or an in
crease in prices and taxation, are no
further from the margin of subslst-
ence than they were in peace time,
others are being employed on a scale
hitherto unknown, and therefore have
larger incomes than ever.
These include women, boys, and
elderly men; and women in receipt of
separation allowances through the
service of their sons or soldier-hus-
bands. as well as old-age pensioners,
Families whose normal wage-earners
are enjoying no increase have surplus
incomes through the combined efforts
of the several members.
That is why the shops in London
are, in many instances, doing better
than for many years. These include
the diamond and jewelry mart in Hat
ton Gardens, where a big boom is i'll
progress as a result of the new GUS
tom of the munitions workers in in
vesting their surplus incomes in such
adornments. 1t is a new ratio of the
distribution of wealth that England is
now enjoying, and thousands Of homes
are enjoying comforts and even slight
Injuries that they never before pos
sessed OF hoped to possess.
more pleasure in life and more pride.
The world-war has brought them their
opportunity, and it is as result of
this unexpected chance that they are
able to hand over such liberal sums
toward paying for the war.
England's Immense War Loans.
The totals mentioned as showing the
participation of the working classes,
though reflecting their spirit to aid,
give but the slightest idea of how the
war has revealed another thing-the
tremendous investing reserve of the
population. The latter point is illu-
strated by the fact that the English
have raised since the beginning of the
war by loans of various kinds in the
| United Kingdom alone total of 49,
265 100000.
War Cost Eight Billions.
The wars cost to Britain during the
current year alone is reckoned at al
most as large sum as that total, or
at $S,O00,O00,O00. The problem Of
grasping the significance of so vast
a sum is, of course, almost impossible
for the average man. A faint idea OF
it's meaning, however, may be gained
by comparing it with the fact that the
total value of the exports of the
United States last year was $780,
100000, perhaps the largest in the
NATIONS history.
Il The manner in which the national
'Fwar savings committee has organized
and is conducting the task of saving
is in keeping with the tradition OF
British thoroughness. It is revela-
ton. The committee, under the chair
manship of the Right Hon. G. N.
Barnes, a well-known labor member
of Parliament, includes active business
men and economists and financial ex-
perts of recognized ability.
One of the supreme tasks of the
committee has been to see that the
country strikes the golden mean in
the matter of paying for the war of
her SIS, O00,O0O,00O of accumulated
wealth, through selling back securities