Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1920-01-20
THE POWER OF THRIFT
By WILLIAM MATHER LEWIS
Director Savings Division Treasury Department
National Thrift Campaign is Helping Amer
leans to Financial independence.

A pessimistic citizen was re-
lieving himself of few gloomy
thoughts relative to this fast dy-
ing year, 1919. "The trouble
with America" said he, "is that
the people won't get together on
anything. Talk about the rapid
ity with which we organized Our
national resources to lick the
Hun. Why say,-our speed in
demobilization makes that look
like funeral procession. Every
man for himself and the Devil
take the ultimate consumer is the
national slogan. At forgetting
the lessons of the war our batting
average in the League of Nations
is 1000"
All Behind Thrift Movement
On the face of the returns It seems
as if the depressed one was right. But
fortunately here and there are indi-
cations that after all the disintegra
ton of national solidarity is more ap-
parent than real. It is rather signifl-
cant, for instance, that the American
Federation Of Labor, the American
Bankers Association, the National
Educational Association, the Elks,
the Rotary Clubs, the Modern Wood
men of America, the Ladies OF the
Macabees, the National Catholic War
Council, the Council Of Jewish Wo-
men, and hundreds Of other organiza-
tions representing every shade OF
thought and policy have all pledged
themselves during the year to stand
behind one great national movement.
Need Of Thrift Today
The man whom the Chicago police
forcibly disuaded from feeding ten
dollar bills to q horse is president OF
the lodge attended by the youth with
the fifteen dollar silk shirt; the stenog-
rapher with the four hundred dol
lar fur coat, the munition makers
wife with the $35o,00o pendant, and
all the joyous train who are making
the judicious grieve.
And in this period Of reaction, oi
wild and nervous extravagance. The
Treasury Department Of the United
States arose and said: AT this mo-
ment when the captains and the kings
depart we will call the people back
to the thrift of war days. We will
Justify what the war cost In money
and material. We will bring out OF
this chaos of reconstruction a strong
er America" And there was created
the Treasury Departments Thrift and
Savings Movement, built upon the
splendid foundation Of the Savings
Campaign conducted during the war
Among the instruments Of war finance
Thrift Stamps and War Savings
Stamps offered means Of saving by
which lessons of the accumulation OF
capital through small steady invest
ment could be taught. These Stamps
had been the means OF raising almost
Q billion dollars of revenue for the
Government during the war and had
become popular. It was therefore
decided that they should be contin-
ued and their name, w. 8. g.. which
was assuming the importance Of a
trademark, should be permanently
adopted.
America Faces Financial Freedom
Occasionally Government Depart
ments are charged with duplication
Of effort, but in the thrift movement
the Treasury Department has been
blessed with intelligent and cordial
cooperation by other Official agencies.
The farmers of America have re-
ceived the thrift message because the
Department of Agriculture has ac-
~,,otntnd -, Hoppfy 0apfo Nth tho