Milford chronicle., 1942-11-27
MORTGAGING the FUTURE
LUCIA MALLORY


Lets talk it over, Son. How
much do you need a watch?"
We'll, Daddy, we don't have
clocks in all our classrooms al
school, and sometimes l want to
know when the period will be over.
l think watch would help me to
be on time with my furnace jobs
next winter, too"
The voices f1oated up to me from
my neighbor's back yard. Merrill
Banks and his father had seated
themselves on a bench below my
open window. They were resting
after a game of tennis.
"It sounds absurd to talk about
furnace-tending on warm day like
this" the fathers voice answered,
but it won't be long before you'll
be building fires and carrying out
ashes instead of moving lawns and
raking leaves"
Eyes, l have the promise of two
furnaces to take care of, Daddy.
That will give me two dollars a
week. Don't you think it would be
all right for me to buy a good
watch with my own money? OF
course l could buy cheap one, but
you've always told me never to
put any money into shoddy things
that won't last long"
"Yes, that's true, Son. You'd bet
ter buy a good watch if you buy
any. But do you need watch badly
enough to mortgage your wages
from now until next spring to get
it?"
"Why, Daddy, it wouldn't take
long-and it wouldn't cost much!"
Merrill exclaimed. "Just a dollar
down and a dollar a week"
wait a minute, Sonl Those
watches that you showed me in
Keith's window were priced from
twenty to forty dollars each. This
is the second week in September.
How long would it take you to buy
the cheapest one of those watches
at that rate?"
Several minutes of silence fol-
lowed, and then the boys voice
arose in exclamation of surprise.
why, Daddy, 1 wouldn't get it paid
for until the middle of February!
I didn't know it would take that
long!"
That's one of the worst features
of installment buying" his father
declared. "The buyer seldom real
ICES how long it will take to COM
plete his payments, or how much
money he will actually spend"
Merrill's next remark showed
that he had been thinking. ut
wouldn't really be my watch until
next February, would it, Daddy?"
mo, it would take you that long
to pay for a twenty dollar watch"
IF kept on every week putting
part of my money into Defense Saw
ings for college, there wouldn't be
much left to sspend on anything
else, would there?"
mo"
"I wouldn't have enough money
of my own to buy Christmas pres
ents for you and Mother and Janet"
the boy concluded. Daddy, I'm not
going to buy watch until l have
the money to pay for it."
, I'm sure you'll find that a more
satisfactory plan, Son. There was
a note of approval in the fathers
voice. Buying on credit has use
full place in the modern world, when
the goods to be purchased are so
essential that it is necessary for
the purchaser to sign away a por-
tion of his income for a given
length of time to obtain them. But
too many people make the mistake
of buying practically everything on
credit, so that, when the first of
each month comes around, their
salaries are never really their own.
l am glad you have decided to wait
until you can pay cash for your
watch!"
so am 1, Daddy. I'm going to
begin saving for it right. away"
AS the two walked away from
my window. l was glad that had
inadvertently overheard a father
giving such good counsel to his
son.