, 1921-06-28
FRANkLIN's ADVICE ON ECONOMY.

Possibly. there never was in all the history of the
American republic. any citizen who offered uniformly
lsounder advice to the people than Benjamin Frank
lin And what is more he practiced his own precepts.
He set the example. His philosophy of a hundred and
fifty years ago is the kind that lives always. Is as
good today as it was then and will be a hundred and
fifty years hence.
In his lifetime there came a period when public
economy was necessary. No one had had a more Sc
we're schooling in economy than Benjamin Franklin,
no man of that day was better qualified to speak on
the subject. We were not doing business in billions
as we are today but the relative proportions were
somewhat the same and instead of billions it was
thousands.
His plan of saving a half million dollars to the peo-
pie was characteristic of the man and expressed in
characteristic style when he said:
"As / spent some weeks last winter in visiting my
old acquaintance in the Jerseys, great complaints !
heard for want of money, and that leave to make
more paper bills could not be obtained. Friends and
countrymen, my advice on this head shall cost you
nothing; and, if you will not be angry with me for
giving it, ! promise you not 50 be offended if you do
not take it.
you spend yearly at least 200, 900 pounds, it is
said. in European, East Indian and West Indian COM
modities. Suppose one-half of this expense to be in
things absolutely necessary, the other half may be
called superfuities, or at best, conveniences, which,
however, you might live without for one little year,
and not suffer exceedingly. Now, to save this half,
observe these few directions:
1. When you incline to have new clothes, look
first well over the old ones, and see if you cannot
shift with them another year, either by securing,
%mending, or even patching if necessary. Remember,
a patch on your coat, and money in your pocket, is
better and more creditable than a writ on your back,
and no money to take it off.
SO. When you are inclined to buy china ware,
chintzes, India silks, or any other of their fimsy,
slight manufactures, it would not be SO bad with you
as to insist on your absolutely resolving against it;
all l advise is, to put it off (as you do your repent
ance) till another year; ana this, in some respects,
may prevent an occasion of repentance.
So. If you are now a drinker of punch, wine, OF
tea, twice a day, for the ensuing year drink them but
once a day. If you now drink them but once a day,
do it but ever other day. If you do it now but once
a week. reduce the practice to once a fortnight. And,
if you do not exceed in quantity as you lessen the
times, half your expense in these articles will be
saved.
"a. When you incline to drink rum, fill the glass
half with water.
Thus, at the years end, there will be a hundred
thousand pounds more money in your country.
"f paper money in ever so great a quantity could
be made, no man could get any of it without giving
something for it. But all he saves in this way will be
his own for nothing, and his country actually so
much richer. Then the merchants old and doubtful
debts may be honestly paid off, and trading becomes
surer thereafter, if not so extensive"