The Little River news., 1918-01-05
FALSE ECONOMY"
 DOES NOT AID WAR
President of the American Society for ...... Thrift Warns Against
 Stopping of
 Business.

New York, Jan. That more harm than good will result from the general practices of 'hysterical econ omy" is the opinion of s. W. Straus president of the American Society for Thrift. whe. vcicea this warning in a statement made public today. The tendency on the part of many of our citizens MT. Straus said, to prac- tice indiscriminate economy at this time is regrettable because of the dan- ger of injustice to legitimate busi- ness enterprises, without any benefit therefrom to our government in win ming the war. Furthermore, it is re- grettable because of the possibility of fostering a popular misunderstanding of the true meaning of thrift.
 This condition, if it were to con- tinue, would tend to discount the val uable lessons in the sensible practices of thrift which we as individuals and is just as essential in winning the war
 We must bear in mind that money is just as essential in winnig the war as food, ammunition and guns. Any condition. therefore, which tends to halt business, transacted along con- servaMve lines, and stop the flow of money through the customary chan nels saps our financial power.
 Money. lying dormant. is cold metal-no.hing more. Money is mere lya symbol of wealth. It has no value whatever excepting when in circulation or when used as the basis of credit. Real wealth is only that which money can buy.
 Against False Economy.
 We must differentiata between ttc elimination of waste and the withholding of money fre.n legitimate business. We must remember that what is one mans luxury is anoth- CT mans necessity. jointly creating ianssction on which business and em- plcyment depend. This statement does rot. of course. imply encouragement, 5f ex.ravagance. In the practice of -ruc tt rift, now C. at any time there is no waste. Especially now we must abstain from. using for individual leeds any essentials necessary to the -oyernment for the successful prose- cution of the war. We must sub, scribe literally and to our greatest ability to the Liberty loans and war charities, but we must remember also tl;i, we will gain no.hing as nation in the encouragement of false econ omy, hoarding and selfishness. Amer ican business constitutes one of the strongest assets of the allied cause. Anything like 8 financial panic in America now would be real disas- ter because the government would be .'accd at trmendous disadvantage in securing money with which to finanace 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 1t is our patriot ic duty to create an epoch of receiv- erships and cripple the business of manufacturers. theaters, artists. mu- sicians, dressmakers. tailors, jewell CTS, small shopkeepers and the mil ii"ls of our citizens whose livelihood is. directly or indirectly dependent on so-called nonessentials. If an era of receivers hips Is precipitated through 1he. dissemination of doctrines of de- structive economy, a popular miscon- lception of thrift will be created and the thrift movement in this country will be retarded for many years to come.
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