THRIFT, "THE ESSENCE OF DEMOCRACY"
"Thrift is the very essence of democracy." For democracy means freedom, equality of opportunity, "self-determination." No man is a greater slave than one who is bound and driven by financial necessity. By thrift the mind is "unfettered by the petty annoyances that result from improvident ways." Thrift means providing for the future. There is nothing in the world that will so establish one's faith in the future and that will, therefore, give that freedom of spirit upon which democracy depends, as the wise use of to-day and of to-day's resources.
THRIFT A RIGHT AS WELL AS A DUTY
"Every man must practice thrift and every man must have the CHANCE of practicing it." It is a RIGHT as well as a duty. Before the war it was said that four fifths of the wage earners of our country received less than $750 a year for their labor. Studies in various cities also showed that an average family of five could not maintain health and efficiency on an income of less than from $750 to $1000. Under such circumstances thrift is the strictest necessity, but it is a thrift that means pinching economy and the sacrifice of health and efficiency. It is not the thrift that provides for the future and gives freedom to the individual, the thrift that is "the essence of democracy itself." Every man should have an opportunity to earn a "living wage," which includes an opportunity to provide for the future. Democracy is not complete until that opportunity is afforded.
Thrift, or the good management of the business of living, is shown (1) in earning, (2) in spending, (3) in saving, and (4) in investing.
THRIFT IN EARNING
(1) Since the earning of a living was the subject of Chapter XI, we need not dwell upon it now except to note that a thrifty person is an industrious person—he makes wise use of his time; and also to note that many of those who are now in want, or who, in advanced years, are receiving small wages, owe their condition to a failure at some time or other to make use of the opportunity for thrift. Many people do not recognize the opportunity when it is presented, or lack the wisdom or the courage to seize it. Thrift involves MAKING A CHOICE, and in many cases a wise choice requires courage as well as wisdom. It is a choice between the satisfaction of present wants and the sacrifice of present enjoyment for the sake of greater satisfaction and service in the future.
When a boy in school has a chance to take a job that will pay him wages, he has to make a choice between it and remaining in school. It may seem to be the thrifty thing to go to work; but real thrift is shown by careful choice of vocation, and by thorough preparation for it, even though it requires sacrifices that seem difficult (see pp. 137, 139).
We may note here, also, that physical fitness is essential if earning power, which means power to perform service, is to be fully developed. The "conservation" of health and life is so important that a chapter is devoted to it later (Chapter XX).