Washington County News | 1927-05-12 | Page 3 | Modern-Day Extravagance of Both Old and Young Needs to be Checked

Modern-Day Extravagance of Both Old and Young Needs to Be Checked By W. R. MOREHOUSE, American Bankers' Association. The American people are becoming more and more reckless with their money. It isn't so much the high cost of living in these days as it is the lack of of appreciation of the value of minor coins. Today, if you drop a penny on the sidewalk you almost hesitate to pick it up. If you drop a ' nickel or a dime in your office, you are tempted to remark, "Oh, let the janitor get it." Young America is being reared in this environment, which borders on extravagance. Our children are demanding liberal allowances for their school expenses; instead of taking lunch to school, as was the custom 25 years ago, the children today insist on an allowance of at least 50 cents a day. To offset the tendency toward extravagance in children, I would urge bunkers to encourage children's accounts and welcome the deposits of pennies pen-nies and nickels. Stock salesmen and promoters are getting too many of the savings accounts with promises of high returns, and installment buy- ing is an evil in so far as it encourages the purchase of luxuries, instead of necessities.