Newark leader. ([Newark, Ohio]) 1917-1946, 1918-01-05
DO NOT JEOPARDIZE
LEGITIMATE BUSINESS

That more harm than good will
result from the general practices of
"hysterical economy" is the opinion
of S. w. Straus, President of the
American Society for Thrift, who
voiced this warning in statement
made public recently. "The tendency
on the part of many of our citizens,
Mr.. Straus said, =" to practice indis-
criminate economy at this time is
regrettable because of the danger of
injustice to legitimate business enter
prises, without any benefit therefrom
to our government in winning the
war. Furthermore, it is regrettable
because of the possibility of fostering
a popular misunderstanding of the
true meaning Of thrift.
"We must bear in mind that money
is just as essential in winning the
war as food, ammunition and guns.
Any condition, therefore, which tends
to halt business, transacted along con-
servative lines, and stop the flow of
money through the customary chan
nels, saps our financial power.
"We must differentiate between the
elimination of waste and the with
holding of money from legitimate
business. We must remember that
what is one mans luxury is another
mans necessity, jointly creating q
transaction on which business and
employment depend. This statement
does not, of course, imply encourage
ment of extravaganza. In the prac-
tice of true thrift now or at any time,
there is no waste. Especially now
we must abstain from using for In
dividual needs any essentials neces-
sary to the government for the sue
cessful prosecution of the war. We
must subscribe literally and to our
greatest ability to the Liberty Loans
and war charities, but we must re-
member also that we will gain nothing
as nation in the encouragement of
false economy, boarding and selfish
ness. American business constitutes
one of the strongest asset of the
allied cause. Anything like financial
panic in America now would be a
real disaster because the government
would be placed at tremendous dis
advantage in securing money with
which to finance itself and our allies.
"All our people are united on the
point that war requirements come
ahead Of private considerations, but
we need not feel that it is our pa
triotic duty to create an epoch of
receiverships and cripple the business
of manufacturers, theatres, artists,
musicians, dress-makers, tailors,
jewellers, small shop-keepers and the
millions of our citizens whose liveli-
hood is directly or indirectly depend
ent on so-called non-essentials. If an
era of receiverships is precipitated
through the dissemination of doc
trines of destructive economy, a pop
ular misconception of thrift will be
created and the thrift movement in
this country will be retarded for
many years to come.
"We have made great strides in
the correct understanding of true
thrift. We have come to full realiza-
tion of the fact that no nation of
people can go along year after year
blindly wasting their resources and
not come, sooner or later, to reckon
ing. We are preparing to teach thrift
in our schools so that future genera
tions may know the value of this
virtue, but the practice of indis-
criminate economy now may jeopar-
die the success of this movement.
"It is our duty at this time to
avoid any suggestion of hysteria. Let
us view our duties to our nation from
a sane, practical standpoint. Let us
strive wherever possible, consistent
with the practices of unstinted pa
triotism, to lend encouragement to
fair and legitimate American business,
which is mighty asset to the allied
Nations"