CHAPTER XIII
THRIFT
"THRIFT IS GOOD MANAGEMENT OF THE BUSINESS OF LIVING."
NATIONAL IMPORTANCE OF THRIFT
This definition is taken from "Ten Lessons in Thrift," issued by the Treasury Department of the United States Government (February, 1919). The United States Government sent out these lessons because "America to-day stands in the position in which all her economic problems must be solved through thrift … Unless our people gain a deep, sincere appreciation of the absolute necessity for thrift, we cannot hope to hold the proud position we occupy as the flag bearer of nations …" [Footnote: S.W. Strauss, President American Society for Thrift, in "The Patriotism of War Savings" (National Education Association pamphlet, THRIFT, 1918)]
LESSONS OF THE WAR
The great war taught us some lessons about the importance of thrift to the nation. The enormous expenses of the war were paid and the armies and the civilian populations of the countries at war were fed very largely by the combined small savings of our people. Nearly 20 million people contributed to the fourth liberty loan, by which almost seven billion dollars were raised, an average of about $350 for each contributor. Almost every one bought war savings stamps, by which about a billion dollars were raised in 1918. Practically all this money came from savings. Enormous sums were also given to the Red Cross and other causes. To do this people saved and sacrificed "until it hurt." The provisioning of our armies and of the needy peoples of Europe was made possible by the saving, in American homes, of slices of bread, of teaspoonfuls of sugar, of small portions of meat and fats.
THRIFT AS PATRIOTISM
Thrift, however, is not merely a war necessity. "The time when thrift shall not be needed—needed as vitally as food itself—will never come … Through thrift alone can the rebuilding come—the rebuilding of America—the rebuilding of the world … Thrift is patriot ism because it is the elimination of every element that tends to retard…" [Footnote: S W Strauss, "The Patriotism of War Savings">[
Thrift is necessary both for individual success and for good citizenship. It is only by thrift that the individual may in some measure repay others for the care he himself received during dependent childhood, and provide, during his productive years, for the "rainy day" of sickness and old age. It is by thrift that CAPITAL is accumulated with which to carry on the world's work. The citizen who saves and invests his savings in a home, in business enterprises, in bonds or savings stamps, not only makes his own future secure, but becomes identified with the community and takes a greater interest in it. The thrifty citizen inspires the confidence of the community, and acquires an influence in community affairs that the unthrifty citizen does not enjoy. Finnish farmers in a certain section of New England are said to be able to obtain credit from neighboring bankers and businessmen more easily than many of their neighbors, and to be considered as especially desirable citizens, because of their reputation for thrift and honesty. Thrift is often confused with stinginess and selfish ness. On the contrary it alone makes generosity and service possible.