Show HABIT II JS is PRACTICED BY ONLY FE They Who Put By to Build I Capital Are Rulers of W orld Declares Declares' Student It of Finance J By LORD BEAVERBROOK Special ial Correspondence dence Universal Service LONDON Jan 14 Saving H.-Saving Saving l Is a n habit which very few men acquire These ese are the rulers of the land and the only men who dispute with them 1 those who whose e an ancestors estors have saved f loP them I I have often orten tried to estimate what the proportion Is between those who e a and those who do not and what In n each case case U the e motive for putting money noney n ney by may be It Is my calculation calculation tion that only one man mart In five saves And nd even from that figure one must ded deduct ct the numbers of those who save not for the purpose of reinvestment or Increasing their capital but as a am m matter of precaution or fear This latter class claEs dreads illness misfortune or or pr premature mature death It puts the limit of safety against these evils at a a. sum and when that amount Is s ceases to strive This I is not neally I 1 eally that progressive saving which mal makes es capital J THE Tt-tE WORKER I The The small percentage of men who t I steve saVe s ve with the intention of ot using their capital productively soon acquire certain tam tain definite and common habits which i spring from the original saving tendency tent tendency ten- ten t dency and motive mothe 1 I Time is money to them and they t s ve one as religiously as the other They Tey work continually with no 1 thought of ot overtime As long as there remains anything to be done they are j ready to do It They are like the schol schol- t 4 dt r who will not leave a lesson until he has It U word perfect They take their example from the farmer In harvest time who goes on bringing in In the crops until the light falls and falls and begins again as s soon as the sun rises In the good times of commerce they work hard and In the bad times they work ok harder They realize the rotation by which a a. period of boom succeeds a. a period a-period of depression and they make their their harvest hanest out of ot both AND THE SHIRKER The opposite type Is easy to describe He Is the man who Is fond of ot declaring that thit that the world owes him a living He Is a parasite on society not even as aa useful as the worm for the worm at l least ast performs a a. necessary function He H I Ie Is wrong It is not the world which owes him anything on the tho contrary ls f Indebted to hum huml n society i so Iet for lor the price of his existence If he labors at al atall all It ft 1 Is for four hours a day In good limes s because work is at a premium ol of of price and for four hours a day In bad times because Industry can supply no longer hours po Of course there is an Intermediate type who does not save not because he l lacks the Inclination but because has he-has not got the chance HarI Hard cases of this character are far tar more common than is supposed In jn-In the first there place Is the man whose health will not allow him to work at full tull pressure Next there is thoman theman the man who has a widowed mother to port or younger brothers and sisters sisters sisters sis sis- to keep and educate This is the commonest Instance This mans man's sav- sav InKS s go not to create creato the capital which will make him rich but to the help of ot others rs None r the less he does the state as all great a service In the example of s self abnegation and self-sacrifice self which he oves to the world MA MAKER ER OF MONEY But we must return to the first class the the maker of money and materIal wealth who reserves the process practiced tl d by the waster While a a. boom Ison is ison ison on he ho will work double tides to make can for during this period o of money Is easy to get Out 6 this abundance he will put his moni mon- mon monr i fy 1 by U Ho He can do this In two ways ways- Cither Ither by Investment or by the the actual of Having cash 1 In either case he can afford to view the subsequent period of depression J equanimity if he has exer exercise business caution It is true depression the earning ca capacity ca- ca lacity of his Investments will be les les- les- les But this reduction of ot Income is Isa a passing phase The Tho actual value of ot the capital remains the same and jwill recover Its earning capacity In du due mourie course It II In the second case If the saving man nas lias put his money by In tn 1 the form o of cash ash t his reward will accrue as soon as es the tho boom ceases When depression all that he has accumulated will be enhanced In v value lue A practIcal Instance is not hard to find The sov soy foreign rJ reign In 1920 1919 was wa worth far les less i Jn Jit buying power than It Is today Depression De De- De- De has cheap cheapened prices Th The The Theman man who saved during the boom period rind finds these savings have already great great- I jjr finds r Increased In buying power WHEN TO USE SAVINGS I 11 Further at the moment when th the Ud f d turns turns- from depression to the he upward upward up up- ward movement Is the great the profitable employment o of capital The period of opportunity 1 Is tK of ot commerce and in in- in It Is at that moment that th the theroan roan man who has saved will find remunerative remunerative employment for his capital Those Thos who work and save may profit there there- for both by bad and good t times return for their exertions they the carry on their backs the main mam burd burden n nr of r the state I o Of course ourse there exists besides a valuable class of ot working a 1 professional man who pays In the lower lowe graces of Income tax or In Indirect t taxation None the less it remains remain true that the great bulk of taxation d depends ends on the Invested In savings savIng c of the people pepIe cr In a a. a word on the the- profIts prof prof- Its of Industry And the chief creator create wealth is the man who saves save and reemPloYs his capital It Is right that ha should pay for tor the machinery or SUMPTUOUS TRAIN DO BOMBAY IBAY Jan 14 A H.-A A train more mor sumptuous than any In which a kin king l of England has traveled has been conr conveying con con- r India I the rd Prince of Wales prevail through Th The princes prince's bedstead l is of ot oxidized silver and 1115 s bathroom tiled with porcelain |