Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1937-01-30
IS THRIFT THE ULTIMATE
OR A MEANS TO AN END?

ed sOme-thOse of the Richard Saunders
type-w'hO spent little less than they
earned, no matter how little they earned.
They moved "a little money into the pur-
chase OF royalties at a time when they
could buy $50 bills for 81 cash. That
happened to be in the early history OF
Cut Bank. Those people who gave up a
little more than necessity demanded and
put their savings into royalty investments
at that time are today enjoying hundred
fold returns on their investments.
They made ADVERSELY their greatest
agency for success. Without the calamity
OF the depression, they would never have
known an opportunity to make their
meager savings of few hundred dollars
grow into a greater factor in their lives
than social security.
Social security has done one great
thing for the thinking American people.
1t has made people conscious of the out
look for old age. Benjamin Franklins
teachings have never reached the fiber of
the people. 1t is unfortunate but a grim
fact that the partial application of Poor
Richards theories must be made by the
force of law.
Yet see what it means, at best: when
we study the social security laws we find
that the mature man such as those in
this organization, with average incomes,
will find themselves at the age of 65
with an income from the government Sc
curity funds of from $50 to S85 per
month.
What can we--average peopIe-do with
$50 per month? There may be some
spots I'm Asia where we might 60 and
live in comparative luxury ON $50 a
month, but none of us would be willing to
live there, without modern cOnveniences
lt follows that we must have MORE than
social security funds to give us compe-
tence after So. Also the deductions for
security payments necessitate that we get
some OUTSIDE MONEY between now and
the time we are SIS. So we must SAVE
from our incomes and INVEST those
savings.
The man who. like the ''banker." says
that money should not be INVESTED but
should be LOANED to others who, smarter
than the one who saved it, can use it to
make fortunes, paying the owner of the
money paltry rate of interest-that man
is simply dishonest. That is the theory
that has been forced upon millions of
Americans by socaIled Investment bank
ers." They take the pubIic's money and
invest it in hazardous enterprises. If the
hazaihoss enterprises fail, the public
loses. II the hazardous enterprises sue
coed largely then the investment banker"
gets the vast fortunes therefrom and the
investor Is paid a little interest on his
money. That was the old order of things.
There are millions of people now living
VINO Will luie WITH the flrm belief that
the only way to make money is through
giving mOaey to an investment broker
"a man Who has never created a dollars
worth of Jew wealth and never will.
How to bake money make money is no
new problem. We recently read again the
story of a pan who was going on a long
trip and hi called In his employees and
turned ovef his money to them, as a
loan, so thy could earn a living.
He gave lone of them five thousand
dollars: another two thousand and one
thousand to another one; TO each man ac-
cording to lis ability. Then he left for
distant pOiTts and long rest.
Then the pan who had the five thOus-
and went md traded with the five
thousand and made himself another five
Thousand.
The one WAO had received two thous-
and also gaiTed two thousand.
The one WHO had received one thOus-
and dug a IpIe In the basement and,
taking no chances, buried his Thousand
deep in the yrOund figuring that he
would make great hit with the boss.
After Ongstime, the boss came home