The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-09-11
Dead Wood and DefLQtiOn
Face the Music and Watch Your Step Is the Keynote This Story Which
AdyiseS the Indviduak of the Nation to DO Some Ovede
Pruning ard DOue Themselves With Cold Facts, That They
May Wake Up to the Urgency of Personal and Family
Thrin--he Goddess War Destroyed

hole.
The head of "a large industry lately
remarked to me; II doubt IL "a
per cent of the individuals OF this
country could tell Just where they
are AZ financially. Of course it's dif-
fcrcnt with firms and corporations.
They have To- know--at least thcorct
iChlly. Those men who can give their
financial latitude and longitude are
the very rich and the very poor, The
great mass OF men between these two
extremes have been drifting and are
sill drifting. The period of war in
flntion has greatly stimulated this
habit of reckless financial driving.
with wages and salaries going up
and easy money within reach on the
side millions fell into the way OF
watching income with fascinated
eyes and giving only a careless ana
occasional glance at the column OF
outgu.
This has become national habit.
We're going to have "a harder time
living 1t down than industry ~ hnv-
ing Ia throw Off It's poison of tho
cost-p1us plan. But business is not
going to quit staggering until the In
dividuals OF this nation--thc majori-
and pay taxcs--gct u firm grin on
their personal affairs. know whcro
they're at, sail by chart and compass,
plan their expenditures To 1T their
incomes and their obligations, and
fight their way back, by sane and
careful living. to "A position OF nnan-
ciHl soundnoas
"Of course there are a. oral mil
Hon wage workers who have "A sharp
ana hungry realization that we're
now paying for our great spending
spr"c-but there are surprisingly few
persons of moderate income who
have yet discovered In n practical
way that tho war TX over and settle
ment day at hand. You may wonder
how they could he no blind to n fact
which is 40 painfully obvious to any
thoughtful pcrson-but they are.
There are millions of thcm---stilI
drifting and hugging the hope that
S,cy will get past somehow; that
some beneficcnt force In going to
rescue tNem without waking them
from their jazz dream"
A banker whose institution is a IA
voritc with the small dcpositor re-
marks: "A day at our teilers' win
dows will drive home to any man the
fact that the dominating thought In
the mind of the average saiaried
man today is where and how can I
borrow II IN the age OF debt. We
hear so much about the national
debt. the state debt. tho municipal
debt. the school debt and the corpo-
ration debt that We forget the indi-
vidual debt. Taxes are being hcapod
upon taxes to pay interest on gov
/ > sul l.Iss a -. a.
corporations are paving high interest
to get enough money TO carry their
obligations and meet their expenses.
THE fabric OF debt is being woven
today with a fury which tho world
has never known before.
This passion OF borrowing is in
tho blood of the individual He would
rather borrow than cut his expenses.
that reduce HIS scale OF living. You
would he astonishcd to know how
many families are living without any
knowledge of their finances and
without any plan for their cxpcndi-
lures. They simply drift until they
find themselves In n hole. Millions
OF persons. my observation az a
banker convinces me. live In utter
l'disregard Of insurance day and tax
day, They know that these pay
ments must he made sometime but
they are genuinely surprised when
the demands for payment appear.
They suddenly realize that they
must borrow--from banks II they
can, from friends II they must"
Cnfoundcd Optimism.
Some Of them make sporadic and
haif-hcartcd attempts to cconomizc: I:
but they put far more pep and punch
Into their attempts to borrow than
into thoi refforts TO save. They read
those writer's and listen to those
speakers who are In the business of
/ handing out predigcsted cheer and
/ prepared hope. They clip from the
| papers statements from alleged H.
! nancial medicine men to the effect
/ that business is going TO pick up In
the fall; that things are going TO he
all right at aomc Joyous date In the
/ not distant future. They remind me
/ Of an experience OF my boyhood.
| lived In village which had several
/ families Of y sect who believed that
! on a certain day Ret by their prophet
/ tho world would come to an end and
/ they would ascend to heaven. As that
| day approached they sold their he c-
/ longings and spent their money for
white raiment and for railroad tick
cts 10 the central point where all
/ the faithful Of that region were Ia
! gather for the ascension. Efforts 10
| arouse them to an attitude Of
worldly prudence were Of no avnii.
| Why take thought Of the morrow
and its morcenary needs when the
morrow was going to open the doors
Of paradise to them'
There arc several million spend
ers who are today showing almost as
much faith In prophecy and almost
AS little regard for prudence as
those misguided and pathetic people.
All the paradise they ask for Is 20
keep up tho sCall Of living 10 whtcn
they have become accustomed IN
wartime expansion. And their proph- p
cts assure them that everything II
going 10 be all right again In tho
fall. Therefore the only problem n
Ia borrow enough money 10 tide
them over the date OF the restoration
Of their spcndcrs' paradlse' II II
anything to avoid cutting down on
their scale Of living, TO dodge un-
sparing retrcnchment. to sidcstep
facing their affairs and living within
a greatly reduced income
"Of course they're finally going
tV.s IA kaAa laUa