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Show EXTRAVAGANCE The New York World very truly says that "the wave of a senseless extravagance extrava-gance that has engulfed the country is a public menace," and that "it gives' comfort com-fort and supplies texts to the revolutionists," revolution-ists," and "invites panic and reaction, wiUi their ruined hopes and homes." But it leeins that it is not the rich, or the Writing people, but the middle class people peo-ple who are the chief offenders. "It is," say the World, "the great middle section of the comfortably well-to-do, hitherto the most stable part of the community, that has gone daft." This conclusion is based on reports of the federal reserve bank, in which the very rich are acquitted of serious fault, and working men's families fam-ilies are said to be "not indulging in reckless- buying to the same extent as some time ago." If this conclusion is accurate and it is open to doubt the so-called middle class is much more prosperous than it has been supposed to be and is in no immediate danger of being crushed between capital and labor at least it is spending, or buying buy-ing on credit. But the truth against the nation's welfare are to be found in all classes. Those who have not had their eyes entirely closed will be forced to admit ad-mit that the situation is accurately described de-scribed in the following words: "It is not exaggeration to call the fever madness, 'To high prices the buying public pub-lic shows almost no resistance.' Buyers 'accept the high prices as tuite to be expected.' ex-pected.' Often they are unaccustomed to the purchase of such expensive stuff as they are now buying, and have no comparative com-parative knowledge of what prices used to be. Reckless- buying, in the judgment of the bank, "acts directly to postpone the return to lower prices. Economy is as patriotic pa-triotic now as it was during the war, but nobody seems to believe it. There has lieen abundant warning Sen sible men know that extravagant buying is only another name for waste, and they know, too, that under such conditions as now prevail watse is one o fthe worst of ciimes. A wise economy now will save those who practice it, the country and tho world from much misery in the future. fu-ture. It is to be hoped that' the "fever" will subside, and the "madness"pass. In-dianapolis In-dianapolis News. |