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Show LOANS AND SAVINGS When the history of the American war loans is finally written, Into it will be written the account of a people peo-ple converted from extravagance to frugality, from reckless spending to prudent saving. It will contain the account of a nation that while giving freely of its wealth, yet in the very act of giving, received more than it gave. Yes. great as will be the money outlay necessary for the successful prosecution of this war, the solid, enduring benefit to the people of this country will be infinitely greater. In the first place, it has caused us to take stock of our resources. A prodigious demand has caused us to reach out for an equally huge supply. sup-ply. But unlike the flush periods of former years, when the added resources re-sources have been produced, l hey have not been wasted in needles extravagance. ex-travagance. i All over this broad land, from ocean to ocean and from lakes to gulf, thousands upon thousands of men, women and children have entered en-tered upon a lift of frugality that has for its object the accumulation of one or more Liberty Bonds. Millions Mil-lions of dollars of these bonds are being paid for in monthly installments install-ments the terms of which will run for many months to come. It is all but impossible to estimate esti-mate what this self-enforced economy econ-omy will do for our people. Viewed I merely in the light of the financial , benefit to the different, individuals. the restuls must necessarily be stu pendous. But going further and considering con-sidering the stabilizing effect upon the nation as a whole, the result assumes the proportions of an economical eco-nomical revolution. No nation of people ever yet succeeded suc-ceeded in building a Btable national edifice upon extravagance. It matters mat-ters not how vast the resources, they must in time succumb to the lavish hand. Only prudence and frugality-can frugality-can lay a substantial foundation for the national life. We are aware that the life of our people has heretofore been tending toward prodigality, and that their phenomenal success would tend to disprove the foregoing assertion. But there is a reason, and it is found in the comparative newness of the country. coun-try. Heretofore it has been easier to reach out after untouched resources re-sources than to conserve those already al-ready in hand. But that day is past. We are face to face with a demand for all and more than is availible, and the smallest fraction of waste will tell in the net result. ' A knowledge of this fact is the great legacy that will be left to the American people when the w'ar shall have been fought to a successful end And that knowledge, with the habits of thrift now being enforced, will have effectually changed the American Amer-ican character from a spending to a saving people. |