The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-02-07

cents Tor one of the war savings
certificate stamps. The moment the
war savings stamp is purchased in
terest begins.
The plan" says Mr.. Vanderlip,
offers The safest. the most convent.
ent and the most profitable method
OF accommodating savings that has
ever been presented 70 the people. |
believe that the whole two billion
dollaTa will be sold. believe that
II is possible that thirty million peo-
pie will take advantage OF this me-
thod of saving.
THE savings bank deposits OF the
United States now average $50 for
each person; of Denmark and Nor
way. each $40: of Switzerland, $50;
OF Australia, SOL: and of New Zea-
land. SOS; nor do the present saw
ings bank figures Of these countries
by any means measure their normal
saving capacity. To absorb these
two billion dollars we must increase
the savings Of the United States
twenty dollars per capita. Wages in
the United States are, roundly. dou-
hle what they are in European coun-
tries. and our saving capacity ought
to be double too. The government
Is tapping new springs Of resources
when 1t goes to all the people with
a financial obligation SO designed
that there is scarcely anyone In the
country-eyen a child--who may not
become the owner Of a war savings
stamp. which is virtually a five dol
lar government bond.
However. I regard the raising Of
two billion dollars. vast as that sum
IL. as by no means the greatest ad-
vantage in connection with this H.
nancing. The incubation Of habits Of
thrift In the American people is a
greater advantage. II such habits can
become ingrained-if we can turn
from being a spendthrift nation to
a thrifty nation---if a. O people we
will come to recognize something Of
our capacity for saving-some Of
the individual independence and the
better citizenship that 60 with provi-
dent accumulation-then a thing far
greater in value than many billions
of dollars will have been accomplish.
ed for the nation. 1t will be one OF
the great credit entries on the ledg-
er of the war. and 1t may be a cred
1t entry Of such vast significance as
to go long way toward ounteract.
ing in the future the terrible losses
of the war.
There is another gain OF the most
vital Importance which will result
from the successful placing OF these
war savings certificates. II cannot
be too often repeated or too strong
ly urged that the cutting down OF
unnecessary expenditures is abso-
lutely essential to winning the war
All doctrine to the contrary is bad
doctrine. The whole nation must
come to recognize that II is not
money which the government needs
to prosecute the war-that what thu
government requires are goods and
services! Money Is the yardstick by
which goods and services are meas
ured. but II Is only the goods and
services that are effective. The las,
Congress appropriated twenty-ont
billion dollars. One can better appre'
ciate what twenty-one billion dollar
Is " one pausss to think that thu
total expenditures Of this govern
ment from the year 1871 10 Janu
airy !. 1917. covering a period Of
one hundred and twenty-six years
including the cost Of our past wars
and every other item OF government
expense. was only a little more thar
ItWeuty-SiA UIiilOu uOihTs-Uut liSs
billions more than was appropriated
by the last Congress alone. But even
II the Treasury were to provide the
huge sum Of twenty-one billions. We
should re member that that sum will
be effective only as measure Of the
goods and services that can be bought
Now, there are limits TO the goods
and services that can be produced
during a given period. The govern
ment needs to buy, let US say. TWEEN
ty billions worth Of goods and ser.
vices. To supply these urgent needs
the entire power Of the country Is
required. 1t follows. therefore. that
the person who buys an unnecessary
thing, however small it's cost, and
however well able he is to pay for
II. is not helping the government by