The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1920-12-01
Hoover on Thrift.

Hoover on InrLIL.
/ "There is parallel between our
present economic condition and that
which followed the Civil War; the
. same conditions of extravaganza and
! big prices which resulted in great
panic and years Of hard times, says
! Herbert Hoover in an article of help
full hints. Thrift and American Wo-
men" in the Ladies Home Journal.
Mr.. Hoover explains that we may
hope to avoid financial disaster which
followed the Civil War because we
believe our economic position much
stronger than it was in those early
days." But he warns that we are con-
fronted with world conditions Of up
set" which were unknown half cen
| tury ago and he comments:
GAS this is not just something for
a statesmen and professors to worry
over but it reaches into the American
home and affects every family and
every individual"
Suggesting a remedy for the pres
| ent tendency towards extravaganza,
| Mr.. Hoover says:
| ''It is as imperative today as it was
during the war, even more so, that we
should practice thrift in all its forms.
Everyone of US should cut out eX-
travagance and waste; we should save
every possible five cent piece even
| though it was worth no more than a
postage stamp; we should put our saw
ings banks or into government or 9TH
er securities or into homes or farms.
money that is wasted is destroyed
as it cast into a fire and the evil re-
suits are not confined to the individu-
al waste and his or her family but
are in fact spread throughout society.
This is the crime and damage done by
waste"
Mr.. Hoover admits that it is diff
cult and sometimes almost impossi-
BILE" to define waste.
"Much has been said," writes Mr..
| Hoover, "and written about silk shirts
and silk stockings. / will not con-
denim the use of these articles but if
those who wear silk stockings could
see the millions of people in Europe
| who have no stockings at all and in
deed no shoes, they would take less
satisfaction in the sheen and pattern
of their hose"
The article directed attention to in
escapable individual responsibility and
sets forth that thrift is first matter
| of principle and secondly that "there
is no chance of our individual effort
| in the right direction being mullified
by the action of others" and adds:
about one third of our people are
| responsible for most of the extrava-
gance and waste in this country. 1t is
a heavy esponsibility that they bear.
| If we could convert this one third to
simple living, the problem would be
solved.
at is the one third who are guilty
| of extravagant eating and drinking in
public places. They spend 100000
every night in New York City alone
| on restaurant suppers. The nation
J spends at least a million dollars a
day or $685., 100000 a year in super
fluous eating at hotels and restau-
rants.
| again it is the one third who are
mostly responsible for the waste in
volved in the use of jewelry on which
so many millions are being spent. We
are now obtaining a great many dla-
monds, other precious stones and ar
ticles of ornament from Europe. Am
| erica sends to Europe shiploads OF
useful modities-food-stu ma
chinery, cotton. She gets back a
| wheelbarrow load of diamonds and
| jewelry.
"People think that diamonds are &
| good investment at a time when Lib.
erty Bonds and other securities and
money itself are depreciating in value
but this is a childish fallacy. If per
sisted in, lot of people will find
| themselves owning a handful of pre-
cious stones as worthless as are the
titles of many former monarchs OF
Europe"
Further illustrating his point, Mr.
Hoover cites the sale of perfume at
sos a bottle and deplores the wide
spread purchase of furs. He says:
"The installment system of credit
for clothes and furniture is a direct
cause of a great deal of extravaganza
for it lures it's victims with the idea
of small occasional payments of which
4 the total is almost never comprehend
ed. 1t is somewhat as if you had
small cut in your pocket book anc
through it the lesser coins were con-
stantly dropping out"
To make a direct appeal to Ameri-
can women is characterized by Mr.
Hoover as high compliment to them
"as Indicating that they are very
largely the guardians of the American
pocketbook.
"If the women of America see THEN
opportunity and their duty and act up
on them, civilization will be then
debtor. concludes Mr.. Hoover.