THE OXFORD NOTE BOOK.

Oxford Observer, Volume V, Issue V, 26 May 1894, Page 2

THE OXFORD NOTE BOOK.

I was about to write a paragraph on "Thrift," when I bethought myself of a book on my shelf on the subject written by Smiles. : I advise all -my readers to procure and persue it care--1 tally. On taking the book down it opened; at a paragraph which ' I think is very sage and is certainly better and more comprehensive than anything I can, produce. I therefore . introduce it here.-. " Thrift began Tyith civilization ; we might almost have said thrift produced civilization*' Thrift .produces capital ; ihe capital is;the: conserved result of labour; " The; - capitalist is' -merely a man who does not- spend .all that is earned h/'work : . "' But thrift is not a natural instinct.. It is an acquired principle of conduct., v It [involves selfdenial, a denial of present enjoyment for future good, the: .subordination of animal appetite. -for, reason, forethought and.prudence. It works for'to day, but al_.d provides fOi> 'to morrow. It invests the capital it has saved; and' makes provision for v the future. "' . ../..,...., .. ■■ ■. ■ y. ; ... V Han's right of seeing the future^V says -Mr Edward Denison, " whioh is conferred.^*, him, byreaspn,. has.attaiehed to it that-dM-yofrproviding for that future ; and our language bears witness to this truth hy 1 using} as.expressive oi. laciive p^eietititioh' against 1 future want, a'word'whiteh'in'its'" fadidal meaning ijjjpnes,^ for the same. Whenever we speak of

the virtue qf providence, we assume th Jb fore-warned is fore-armed. To know thc future is no. virtue; "but it is the j greatest of virtues to prepare for it. " J But a large proportion of men do not fl provide for the future. Thoy do not 1 provide for themselves ; they do not 1 provide for their families. They maj J make high wages, but eat and drinl 1 * m the whole of wliat. they earn. Such ■ people are constantly poor, find hanging on the verge" of destitution. ' * Society mainly consists of two class- \ cs — the savers and the wasters, the provident and the improvident, the t thrifty and the thriftless, the Hidfc. m and the Have-nots. 1 The men who economize by means of labour become the owners of capital wbich sets other m .-motion. Capital accumulates m their Land^ and they employ other" labourers tr work for them. Thus trade and cca. ' ■+■ merce begin. . The 'thrifty build houses, warehouse. . and mills.- -.They-, fit manufacto% with tools and machines. They buiV ships and send .them to various parts c the world. They7put their to gether, and build railways, harbours and docks. They open up mines .of co>l, iron &cj> and errect pumping -engines to keep -them clear of water. They employ labourers to work ihe mines, and thus give rise to an im mense amount of employment. All this is the result oiAihrift. Ifc is the result of economizing money, and employing it for ..beneficial purposes. The thriftless man has no share m the progress of ihe world. He. spends all that he gets, and can give no help to anybody. No matter how much m mey he makes, his position is not m any respect raised. He . husbands none of his resources. He is always caiffsjw for help. He is, m fact, the born thrall and slave of '.ihe thrifty. " W ".'Rennib. •»