The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1916-05-19
THRIFT 7 TALK,
WEALTH Is NOW
INCREASING
TIE STAR OF THRIFT is NEARING
ITS ZENITH. TIE WORLD. HAS
FORGOTTEN HOW TO BE POOR
1T WAS ASHAMED OF THRIFT.

The word had forgotten how. to be
poor. 1t was ashamed to practice
thrift Wealth had been increasing
prodigiously without saving. The ad-
vent of machinery and the increased
efficiency on the part of men had been
creating wealth faster than it could
be consumed. The homely virtue of
thrift had dsintegrated. Nobody had
to save. When capital was required,
it was created, not by saving or by
cutting out waste, but by creating
more of it. The farmer did not cult
vate his land better but more of it.
The individual who aspred TO better
living did not economize, but worked
harder. The miser had become but fic-
ton.
\ generation or two ago everybody
carried a purse. II was lot of bother
to spend nickel But the cd wallet
has disappeared and we now have a
change pocket" and wear it out by
frequent journeys thither We have
been race of wasters, and have justi-
fed our waste by our power to earn.
Then came the war. Everybody was
so rich that the world thought it could
fight on stored capital Why save a
few hundred millions to pay for war
that cost billions? 1t would be brief
struggle at best. Why not pay for it
on borrowed money? Only recently
has it dawned on the people of Europe
that they have stopped creating new
capital, been destroying the old in
suicidal amounts and only close econo-
my and thrifty living on the part of
all can save the world from bank
ruptcy.
The governments first borrowed all
they could; but realizing that they
would soon exhaust their borrowing
powers turned their attention to taxa
tion and to thrift. This process has
been SOLDERING and heroic and measures
are now being taken everywhere in
Europe to meet the rising cost of war
| by thrift plans. These methods involve
sacrifice, huge taxes, and willingness
to do without and involve far reach
| ing economic changes.
Having adjusted itself to thriftless
conditions, the world cannot suddenly
depart on a new thrift idea without do
ing considerable damage. For instance
| if everybody should stop going to the
movies, it would save lot of money,
but disrupt and bankrupt thousands Of
| firms and cut down the income of 9th
| er thousands relying on this industry
We could do without many things,
but the sacrifice would be costly to
someone With no surplus income, as
people, the millions of Europe can
not begin to save without destroying
more than they save. They cannot,
strictly speaking, save at all. They
can only stop spending except for ne
cessities and spend for war; but that
is merely a conversion of wealth. Ger
many has been adopting extreme meas
ures, and has been limiting the con
sumption of luxuries. Great Britain
has a thrift campaign on, and all un-
necessary imports will be curtailed.
But habits are not changed in a day
and the efforts of spendthrifty nations
to be thrifty are pathetic.
In contrast with the plight of
Europe, the United States is the only
lending nation on earth. now having
surplus capital 1t is the only country
that can really save-whose thrift is
not forced. Not only because of our
unique position, but because if cult
waited now, thrift will make us the big
gest moneyed factor in the world.
Thrift was never fashionable, but
ought to be always. Europe's loss must
be our gain, and our gain will be last
ing only as we make the habit lasting.
Europe must learn how to be poor
again, while we must learn how to be
rich. But we cannot afford to be too
rich. losing our heads for riches while
Europe's poverty pays the bill. Every
dollar YOU save now helps along in
the good work Americas star of thrift
is nearing its zenith.