Evening star., 1937-07-21

The Value
Of Money
Child Must Learn
Th at to Borrow
Means to Pay Back.
BY ANGELO PATRI.


DO not like the idea of borrow.
ing everything one happens t<
think he wants. Borrowing that ha.
no balancing responsibility to pay
back is dangerous notion. woulc
teach children that borrowing is 9
double-actioned process, taking and
giving. What they borrow they must
pay back, and that knowledge mus,
be firmly set in mind before the Dor.
rowing is done.
In the family children and parent.
give and take among themselves.
Ihey could not do otherwise. Bu
even In the family there Is a limit tc
the taking without the return giving
If one child gets into the habit OF
taking what he wants, and when asked
about it says, 20, yes. I borrowed II
yesterday and meant to tell you
and return it, but forgot" he is to
be taught the obligations OF thine and
mine. Unrestrained borrowing OF
that sort is likely to teach bad ethics.
Children ought to be warned about
lending their things to other children.
High school children are likely to
meet such experiences often. There
Is usually one student in a group who
seems to have no sense OF responsi-
bility about using things that belong
to others. He goes to the nearest
locker and helps himself to a sweater.
or pair of sneakers. or a couple of
base balls, bats, racquets, whatever
he needs; and that's that until some
day he borrows one thing too manv
or from the wrong one Then he is
greatly embarrassed That sort OF
thing is bad habit to form,
Lending money to classmates with
out hope of getting it back is bad
business both for the lender and the
borrower. Lending money and charg-
ing interest on it is about as bad a
money practice as one is likely to find
among high school students The
difficulty in both cases is in the fact
that the students do not support
themselves. What they have they get
from their people Giving it away. or
1t out at interest, does not
seem to be making right use of it.
There is implied trust in accepting
N allowance. Giving it away is
breaking faith no less than is putting
1t out at interest.
Ihe meaning, value and proper use
OF money is something that must be
taught children. In this as in most
other fields, children learn bv ex-
perience. They have to use money.
spend 1t, earn 1t, manage it personally
TO learn about it. If their experiences
are guided and pointed by their par
ents they stand a good chance of
learning how money is managed
But If they are left to muddle their
way through they are likely to learn
in sorrow. Wisdom in money affairs
IS likely to be long delayed. Borrow
ing, using charge accounts, buying
on the installment plan have their
rlghtful places in our economy when
they are used intelligently. That
means that children have to have
experience with them and be trained
through those experiences.
believe that earning money is a
hne experience for youth. hope
they will always have the benefit of
it. Using an allowance is another
[ine way Of gaining right experience
One way or another, the use, value
place OF money must be taught chill
dren. Borrowing Is an experience
that needs careful supervision if 1t is
not to do harm.
Mr.. Patri will give personal at
,entlon to inquiries from parents and
school teachers on the care and de-
'elopment of children. Write him in
'are Of this paper, inclosing a Scent
tamped, self-addressed envelope for
'eply.
(Copyright, 1877