The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1920-07-15
AMERICANS As
MONEY SPENDERS
HAVE WASTED OVER $500, 900
SINCE THE ARMSTICE.
Much Extravaganza.
The Most Wilful in the Worlds His
tory Has Been Practiced-Fi-
nanciers Reading Signs.

A few years ago the people of the
United States were called upon to
exercise thrift in all things and the
people saved as never before. The
parkways in the front of their resi-
dences were made to grow vege-
tables, and the scraps Of meat and
crumbs OF bread were saved with
religious care. The people saved
their money and with it assisted the
Red Cross and the Salvation Army.
People were purchasing Liberty
Bonds, war savings and thrift
stamps. AS those anxious months
wore away the people were ready to
do anything Or to do without the
necessities of life if need be, that the
cause of liberty and justice should
prevail.
Then came the signing of the
armistice and Germany declared that
she was beaten, and then the pendu-
lum stopped and. began to swing
backward and the people of this
country began the ogre Of feverish-
ly spending. The rise in commodi-
ties caused the rise in the price of
labor, and labor did not rest until
it was receiving from three to four
times it's usual wages. Then the
laborer took advantage of the full
pocketbook and began to purchase
the luxuries which he had only
dreamed of in other days, and today
we are in the widest era of extravag-
ance that the world has ever known.
The customs collections for the port
of New York during the month of
March broke all records. They reach
ed the astounding figure Of S22,2S1,-
S7S, exceeding by 100000 the best
month hitherto known, in 1910. Sur
prisingly large quantities of fancy
laces, silks, jewelry and rare articles
of chinaware, as we'll as precious
stones have been brought to this coun-
try AS to the last a careful check
kept by the New York customs Off
Gals indicates that this country owns
more than two-thirds of the precious
stones in the world. This, too, despite
the fact that diamonds are 900 per
cent. above pre-war values. Dealers
in diamonds say that they have
market among the laboring classes
and the Middle West farmers never
dreamed of before by the widest
imaginations.
The purchase of precious stones
is a very small part of the extrava-
gances INDUCED in by our people to-
day. The American people are con-
suming candy at the rate of $780,
100000 a year. We spent nearly
SIS, 100000 for sporting goods. We
bought nearly s42,000,000 worth of
chewing gum. We spent for jewelry
100000. Our bill for perfumes
was SITS, 100000, and we purchased
s1,393, 100000 worth Of motor cars.
October, 1919, saw the peak of our
squandering mania. Since then the
figures are not available, but there
are signs that the people are begin
ming to ston and th1nk-to ask them
selves if they are really getting their.
moneys worth, and whether they can
afford the things which they have
been buying so recklessly. The Fed
eral Reserve report for November,
1919, states: ''Never has there been
so much spending, such demand for
expensive articles and such an utter
disregard for prices" They also claim
that the average person is quite con-
tent to pay from fve to ten times the
former price for jewelry, furs, furni-
ture and clothing. Furniture INSTALL
ment houses report that despite the
increase of 100 per cent. in sales
prices, the bulk of their customers
are laborers who either spend cash or
take their discounts or buy on short
time credit. And the more expen-
sive the furniture is the more quickly
it sells. The same is true of furs.
So great has been the demand for
this luxury, that skins heretofore
never thought of for apparel, are
being sought after. The jack rabbit
and other skins and even the house
cat have been used for this industry.
In October, 1919, food was estimat-
ed to cost an advance of 211 per
cent. of it's price in 1913, and it cost
more, than 10 per cent. more than in
the preceding year.
The 1aborer is beginning to realize
that the fat pay envelope is not keep
ing pace with the prices of what he
has to buy. He is learning that the
nooro ho ic naid fhe loss he gets and