The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1920-09-12
Editorial
of the Day
BETTER THAN SAVING AT TIE
SPIG0T.
fcbr,stian Science MonitOr)

(CnrlSllan OClciiSS -AS|
From continued practices Of thrift 10
moderate affluence even in these oays
when what is regarded as a comps-
tence is estimated in hgures WHICH
once would have been looked upon as
forbiddiny and Impossible, has oesh
proved SO often to be simple ana
direct pathway, discernible and ATTAIN
able by all who sincerely seek IT, tna'
one has no difficulty in agreeing Win
the argument, just now being reiter-
ated. that the solution OF nat1ohsl
financial problems is possible, Funoa-
mentally, only through Individual saw
ing and thrift. Beyond this, and INTO
the more confusing realms OF nation
al and international finance, the un-
initiated may find it best not to wand
er too far. From the home penny pank
to a readjustment of gold balances, the
stablizing of the finances or business
and industry through the stabuiz1ng
of the finances Of the government;
the popular absorption, through postal
savings, of outstanding treasury GER
tificates, and the consequent automatic
increase in value Of Victory and Lib
erty bonds, is q lead somewhat less
easy to follow. Those not versed In the
phraseolog Of theS financial expert, in
attempting to pursue the penny from
its day Of repose on the clock shelf
to its day Of might, may be remind
ed, perhaps. of the old rhyme which
tells Of THE house that Jack built"
But it may be somewhat consoling
to remember that the novice need not
understand the intricate problems and
complexities Of finance, and that even
without this more intimate knowledge,
may be able 70 take really the most
active and important part in the eco
nomic plan which is being urged. In
a recent hearing before special
United States Senate committee on
reconstruction and production, the
| former managing director Of the War
Finance Corporation, Eugene Meyer
Jr., declared it as his opinion that
the fundamental need of the coun.
try is enlarged savings through in
creased production Of necessities and
essential construction work, and re.
duced consumption Of luxuries." Mr..
Meyer went further than this, how
ever. and insisted that 1t was vital
| ly important that the government
safegurd these savings 1t Is Mr.. Mey-
ers plan to pouularize thrift by pro-
viding available and attractive meth
DDS which will stimulate economy
and the saving through the deposit
Of small sums. of money now care
lessly spent or allowed to remain
hidden away, where 1t produces moth
ing in the way of interest. The meth
cd proposed is the extension of the
postal savings system, and the amend
ment of existing legislation TO permit
the government to pay per cent on
postal savings deposits, instead Of 2
per cent, as at present. He points to
the fact that now but $500 postoffces
in the United States are authorized
TO receive savings deposits, whereas,
he says, all OF the $1,000 postofnces
and substatons should be made de-
positories. He offers in behalf Of his
| recommendation what seems TO be
quite conclusive evidence OF the ef-
tectiveness OF such q method. II Is
W ShahiSbANSt HC soy btos
countries having the greatest number
of savings banks depositors are those
with highly developed postal savings
systems. In Belgium Denmark, Ger
many Japan, Holland. Switzerland,
and the United Kingdom AZ per cent
Of the population are savings bank de.
postors, as against about II per cent
. in the United States
Naturally enough, perhaps, Mr.. Ney-
er's appeal Is almost directly TO the
women of the United States Women,
ne quite wisely observes, have more
control over the questions Of savings
than the men. The enfra nchised women
certainly need not wait now to take
; an active part in the control and
expenditure Of government funds. It
has been charged in quite recent times
. that the people Of the United States
have saved a, the spigot" only 70
waste at the brnghole." 1t has not
been proved that this charge is un-
true, though the burden OF proof, in
view Of almost numberless disclosures
would seem 10 be upon the negative
But past mistakes and indiscretions
: cannot be corrected by their continu-
ance. Many Of the larger leaks have
been stopped, no doubt, and there IL
always promise of reforms. 1t 10 fu-
tile and beside the question for the
people of the United States TO insist
that they have saved and lent to the
government unit, they can save and
lend no more.
Comparatively they have made no
financial or industrial sacrifices. Gov
ernment extravagances. after all. have
been but q reflection OF individual
,hriftlesness. The orgy OF the dollar
since the carly days Of the war, was
never more than temporarily checked
by the bond drives and the appeals
for war charities, though these were
always needed. No system OF taxation
, and finance. 1t has been insisted, can
stabilize the fiscal system OF a gov.
ernmen, whose people are prodisal or
sNr7atrr'ft There seems need 70 TN
press this fact. now,
-