“WISE SPENDING”

Poverty Bay Herald, Volume LV, Issue 17608, 26 October 1931, Page 11

“WISE SPENDING”

EFFECT ON UNEMPLOYMENT “Spend money,” was the advice of the Premier, Mr. Bennett, and Mr. 11. H. Stevens, Minister of Trade and Commerce, who spoke at the luncheon held in connection with the official opening ol the Made-in-Canada Fair at Ottawa. That thoso who could spend should do so, thereby providing work and assisting in grappling with present problems, was urged by Mr. Stevens. “Every citizen who spends a five-dollar bill (£1) in some useful and wise way,” lie declared, “is contributing to the relief of unemployment and to the return of confidence and prosperity in this country.” To its 240,000 depositors, that old and cpiiservatively-managed New: York institution, tlie Emigrant Industrial Savings Bank, lias issued a circular message that merits consideration also by, customers of savings banks generally on this continent. Tihis. New York bank points out that jifiardirig and thrift are not synonymous ferns,.}, that, in . fact, .they are quite as dijftereril as courage and fear. .The circular ;therefore gives the following advice: “Keep on deposit all you should have as a reserve, against, emergences, If that ts • licit yet, large; enough , (it .should be.equal to at least six months’ salary), a'dd-to it. . . -v, ■ . , ; ‘Rut jf you nave a surplus above all likely needs, make careful purchases of things you want for permanent use while prices remain low. ~:.t “ See tbg,t your home is put in good repair. Do not let your automobile or apy other property get run down. If you. .have long needed an added piece of furniture, sEpp carefully and buy . it, now. “Buy clothing in reasonable quantities. Buy real estate if you are planning for a home of your own. ~ t , “Wise, spending at tlio right time is as much a part of good thrift as saving all you can when prices are going up.” > . , Tho New York institution, realising that its first duty is to its depositors, thus advises them that hoarding their money at the present time is inimical t 6 their own interests. “Wise spending" would not. necessarily have to become universal; among our people to effect a decided, change for the better in business conditions, arid thus aid in solving tlie problem of unemployment.—Toronto Mail.