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Saving the Money That Slipped Through Their
How an Investment of $2.00 Grew to $7,000 in
Seven Years Without Speculation
BY ARTHUR H. PATTERSON
M R. AND Mrs. B. live in Connecticut.
VI He is a clerk in the office of a manufacturing plant. They have been married ten years and for the first three years of their married life they not only failed to save but actually went in debt over $400. They now have two children, own a comfortable cottage home which is appraised at $3,500 and is clear and free. They have savings-bank accounts of $1.800 and $1.700 invested in 7% preferred securities. And every dollar of
# this money has been saved from salary during the past seven years, an average of $1,000 per year.
I am going to tell you their story, or rather let Mr. B. tell it as he related it to me. If you are facing the crisis in your affairs which the B.'s faced in those early days of married life, it may help you to
meet it and come off victorious. E Listen to what Mr. B. says:
I am now 37 years of age; married and the Daddy of two children. When I was married I had exactly $750 on hand in cash, inherited from my father's estate. Up to that time I never saved a nickel and if this money hadn't come as a windfall, we could not have been married. I held a good position and was earning $2,000 a year. That was in 1907. For the next three years Jane and I just let things run along, living comfortably on my salary. The $750 which I inherited went for furniture and home needs and we did manage to buy-on the spur of early married ambi. tion, perhaps-$300 more of furniture which we paid for out of my salary. But all the rest of it went for clothing, rent, food, amusement, books, cigars, etc. We spent it as it came and it was always a race between our cash and our bills to see which would be on top at the end of the month. Usually the cash lost. But the bills didn't press or worry me. I ran accounts with tradesmen who knew me and knew I was good for it. But gradually the bills distanced the cash and at the end of three years I was in a hole just $400; and then the situation grew serious because we had a baby and in order to pay the emergency bills of the occasion, I had to let my other creditors wait and they became restless.
lane and I had tried time and time again to live within my salary and save a few dollars, but it wasn't any use. We lacked the back bone somehow and didn't have the necessary system to help us see it through. One day Í came across a remark made by James Hill, the railroad builder, and it set me thinking It burned itself into my brain. It was this:
* If you want to know whether you are going to be a success or failure in life, you can easily find out. The test is simple and infallible. Are you able to save money? If nôt, drop out. You will fail as suve as you live. You may not think so, but you will. The seed of success is not in you."
I went home and that evening Jane and I had a long heart-to-heart talk. We sat up until one o'clock, studying, planning, debat
ing, wondering how we could change our shiftless, easy-going habits so that we could feel that we were going to be classified with the successful ones and not the failures. .
We made up our minds that from that night on not a penny would be spent for other than bare necessities until every debt had been paid. We resolved to live on half my salary, reasoning that if other people whom we knew could live respectably on $1,000, there was no reason why we shouldn't. Then Jane said : “ We ought to keep a cash account and put down just where the money goes. We can't go by guesswork any longer. We've been living that way for three years. We'll begin now to keep a record of our money.
What Jane said brought to my mind an advertisement which I had seen only a few days before, about an Expense Book for family accounts. So I got the magazine and found the ad. It told about the Economy Expense Book for personal and household accounting. The description told me that it was exactly the thing we needed and before going to bed I wrote a letter ordering a copy. In a few days it came, and Jane and I had an interesting session studying it and entering the Cash and Expenditure Items which we had been keeping tab of since the midnight resolution.
That book taught us something about the science of home economics. We learned, for instance, that in a properly arranged budget a man earning the salary I did could save, without stinting, at least 30% of his salary. But we were beating that figure. We had raised the ante to 50% and that without suffering for a single need. Of course, we had cut out the theatre, the cigars, the expensive lunches and we'd begun to get acquainted with some of our discarded clothes all over again. And I learned that rent consumed in the balanced budget 17%2% (which was about our cost); food was 25% and we cut it to 21%; clothes 17% we chopped to 5% that first year and it never rose over 10% the first four years.
We started on the new system in April, 1910. The following April when we balanced the books for the first year we found this result: Every single bill paid and $653 in the savings bank! Glorious! We were out of the woods and for the first time in my entire business career I had visions of success on which I could actually stand without breaking through into the quicksands of despair. We celebrated that night in good style with a dinner and the theatre and that's bec part of the program ever since-the annual dinner of the board of directors, Jane calls it.
The rest is easy. We were on the right track and once started nothing could turn us back.
We stuck right to the original program for three years, living on half my salary and saving the other half. Then I got a raise of $250 and that made it quite a bit easier. A year ago I got another raise, bringing my salary up to $2,500, where it now stands.
I've never had the least trouble, since
I've never had the starting on the first page of my first copy of Woolson's Economy Expense Book, in liv. ing within my income and saving money. That book brought us, not only independence,
but it changed me from a worried, half-baked existence into a self-respecting, successful man. I am in a position; as the result of our joint efforts, where I need look to no man for favors; and further than that, my success has brought us into a circle of friends, both business and social, who value us because we are looked upon in our town as "worth while” and “the sort who are getting ahead."
************ Woolson's Economy Expense Book is designed to keep track of the income and expenses of the average family in a systematic manner. Each book is made to contain the records of four consecutive years.
No knowledge of bookkeeping or account. ing is necessary to properly keep a Woolson Book. The lifetime experience of an expert accountant is in the book. He devised it for his own household and planned it so his wife could keep it.
Two minutes daily is sufficient to keep it written up to date. At the end of each week and month and year you not only know where every penny went, but you will have an analysis and comparative table of all the various expenditures, showing just what it went for. Every detail of money management is provided for by a simple, easy-system that a 12-year-old child could handle.
This book has proved truly a godsend to thousands because it has taught them a sure way to manage their finances. With it you know every minute just where you are money-wise. It automatically shows every penny of income and outgo; just how much for groceries, dress, rent, medicine, amusement, car-fare, etc.--and all this instantly and plainly. It is not complicated or tiresome. In fact, once you have started keeping a Woolson Book you will find it fascinating as a game and a miser for saving money.
The publishers are desirous, while the interest of the American public is fastened on the problem of high-cost-of-living, to distribute several hundred thousand copies of the new greatly improved edition and are doing it in this way :
Merely write to them and ask that a copy be sent you without cost for a five days' examination. If at the end of the time you decide to keep it, you send $2.00 in payment, or if you wish to return it, you can do so without further obligation. Send no cash. Merely fill in the coupon, supply business reference, mail, and the book will be sent you immediately. GEORGE K. WOOLSON & COMPANY
118 West 32nd Street
New York City
George K. Woolson & Company
118 West 32nd Street
New York City Without obligation please send me, all charges prepaid, your Woolson's Economy Expense Book. I agree to send $2.00 in five days or return the book, Name........ Address......
TEACHERS: AGENCIES The Pratt Teachers Agency
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Copyright, 1918, by The Outlook Company
TABLE OF CONTENTS
THE OUTLOOK IS PUBLISHED WEEKLY BY THE OUTLOOK COMPANY, 381 FOURTH AVENUE, NEW YORK. LAWRENCE F. ABBOTT, PRESIDENT. N. T. PULSIFER, VICE-PRESIDENT. PRANK C. HOYT, TREASURER. ERNEST H. ABBOTT, SECRETARY. TRAVERS D. CARMAX, ADVERTISING MANAGER, YEARLY SUBSCRIPTIONSFIFTY-TWO ISSUES - POUR DOLLARS IN ADVANCE. ENTERED AS SECOND-CLASS MATTER AT THE NEW YORK POST-OFFICE
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Men of the National Army on Parade.. 353
Special Correspondence by Frederick M. Davenport The New Garden Cities of England..... 364
By Richard S. Childs
By Aline Kilmer
By Mrs. Theodore H. Price Interpreting the People to the President. 368
By Joseph H. Odell Current Events Illustrated...... The Y. M. C. A. in Japan............. 373
Staff Correspondence from Gregory Mason Weekly Outline Study of Current History 376
By J. Madison Gathany, A.M.
By an American Woman
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A WORD BA MY PROFITEERS
and we are going to add new titles regularly, with the best introductions we can buy. All the additional support we will ask of our friends is to buy four volumes where they used to buy two, and twenty instead of only ten."
A JAM WC PAID FOR OUR HATS
We got our hats (paying for them as usual) and waited a moment for our friend to join us, but he could only gasp feebly, as he lit his fifth fifty-cent cigar, “Don't wait for me, boys. The shock is too great-or may be you're only joking."
We are not-here's the list of titles now included in the Modern Library. They are all hand-bound. In limp Croft Leather, and sell at all stores for sixty cents per volume, 60. extra by mail. Check the titles you want.
WAR RELIEF IN MANILA
I was much interested in the article in The Outlook for November 7, 1917, " The Pacific Coast and War Relief," and I am wondering if, in turn, your readers would care to learn of the relief work being done by the women of Manila.
* Although one might not imagine the tropics to be a place in which to collect heavy clothing for the French, such is really the case, as is being constantly demonstrated. Americans coming to Manila from the United States and other cold countries find no use for their heavy garments and shoes, and have donated quantities of practically new clothing to this good cause. By arrangement with the French Government and the United States Army, this clothing is sent free to France.
One interesting way of raising money for war relief work has been developed by the Woman's Club of Manila, which conducts the collection and sale of old newspapers. These are bought by Chinese peddlers at ten centavos a kilo. Quite a substantial sum is raised regularly each month in this manner from material which formerly was destroyed. Old books and magazines are distributed to soldiers and sailors on the transports.
The Woman's Club also set in motion the work of planting vegetables in vacant city lots, and has interested more than a hundred branch Woman's Clubs in the provinces in this work. (The members of these branches are Filipino women, while the Manila club is composed of both Americans and Filipinos.) Through the efforts of the Woman's Club more than 150,000 square meters of land in Manila were put under cultivation in a few months' time. The club also organized a mammoth Agricultural Preparedness Parade, and this was held on August 19, 1917. The Mayor, school-children, various Government bureaus, influential citizens (both men and women), police, etc., took part in this parade, which resulted in the establishment of a Food Commission and in splendid publicity for the work.
* Much interest has been taken in both the Allied and the American branches of the Red Cross. Many American women devote a large part of their time in working at the headquarters in the Manila Hotel. At the times of the sale of Liberty bonds the women have taken a very active part in getting subscriptions. About fifteen desks in centrally located stores and offices were used as their headquarters.
Over three hundred pesos was recently sent to New York for the purchase of Lafayette kits from this Club alone.
I have not mentioned private work in behalf of the Belgians or of the French orphans, nor the work for rebuilding French devastated towns. Many organizations, such as the local chapters of the Daughters of the American Revolution and of the Association of Collegiate Alumnæ, are working along these lines.
I feel it a matter of some pride that the women here have shown such an active interest in relief work. We are so far out of the center of things. Our interest in the war has thus far been derived mainly from the magazines, such as The Outlook. Only recently have home letters begun to convey the grim news of friends and relatives off to the front. Mrs. LEVANT Browx,
Chairman of the Civic Committee of
the Woman's Club of Manila. Manila, Philippine Islands,
January 9, 1918.
It has become almost fashionable to speak con temptuously about “ business men.” They have become as unpopular as hedgehogs at a picnic. But it is a cheap pastime to denounce all“ business" men as Profiteers. Under the present profit system what business man is not obliged to make as much money as he legally can, or be forced to the wall by some competitor who has not such fine sensibilities? And which of you, so smug in your virtue, wouldn't rather eat pate de foi gras than file a schedule of liabilities ?- which brings us to the real point of this discussion :
Can we be fair to ourselves in charging only 60c. for a hand-bound, limp, croft-leather volume in the Modern Library? When sixty cents was fixed as our selling price, the United States had not yet declared war against Germany. Since then, the prices of eggs, butter, pork, ice-cream sodas, beef, coal,
cotton, talcum powder, wool, leather, newspapers, filet of sole Marguery, etc., etc., have advanced about 63 132-789%. Even the price of labor has greatly increased. Still there is more than a vague suspicion that
the present JAM startlingly high
prices are not wholly justified
by economic A SELECT FEW causes. Some
*Zealous and righteous citizens even insist that there are more diamonds, automobiles, fur coats, and gilt edge se: curities being worn by a select few than ever before.
But listen to the other side of the question. The other day one of our friendly fellow publishers treated us to a four-course luncheon and gently suggested that we have a lunacy commission appointed for ourselves. “Why, boys," he groaned, * here you have about two hundred magazines and newspapers and the leading colleges and schools and libraries singing the praises of the Modern Library in so many different, yet singularly harmonious strains, that if you only had an ear for music you would recognize the tune. It's · Johnnie, Put Your Price Up!" "Well, we have been seriously considering raising our price," we answered. “I should hope so," he continued, somewhat less gloomily. * Smyth of the New York Times, Kerfoot of Life, Davis of the Evening Post. Gerould of the Bellman. Sell of the Chicago News, N. P. D, of the Globe, and the Independent, Reedy's Mirror, Philadelphia Ledger. The Boston Transcript, the Philadelphia Press, the best papers on the Pacific coast--why, great guns, all the critics say the Modern Library was the literary sensation of 1917. You have given the book-loving public the biggest bargain ever. With your fine titles and valuable introductions and attractive binding and clear print, sixty cents is simply ridiculous. What is the new price going to be?" “ We have been thinking of seventy-five cents." "Figure your costs!" he angrily interrupted, gulping down a Benedictine and brandy. * You can't do it! Everything is up from 10 to 200% since you started-from composition and plates to binding, from office salaries to royalties. And I understand one of you had the nerve to get married recently. Heaven help her at 75c a volume."
* Yes, there is a lot in what you say, my friend," the newly married one of us admitted, after the waiter had softly reminded us that we were not the only ones in the room. “We don't criticise you or any of the others for asking more money for
or the books you are publishing. We know you are entitled to it. We know that you are simply business men--not Profiteers. We, too, have been thinking about a higher price, but we cannot forget that the Modern Library is a unique institution. When we started it we announced that we did not expect to get rich, and that that was not primarily our ambition. So we have decided to stick to the old price--sixty cents per volume, postage 6c. extra
1 Oscar Wilde
Dorian Gray 2 Strindberg
Married 3 Kipling
Soldiers Three Stevenson
Treasure Island 5 H. G. Wells
The War in the Air 6 Henrik Ibsen Plays: A Doll's House, Ghosts,
An Enemy of the People 7 Anatole France
The Red Lily 8 De Maupassant
Mademoiselle Fifi 9 Nietzsche
Thus Spake Zarathustra 10 Dostoyevsky
Poor People 11 Maeterlinck
A Miracle of St. Antony 12 Schopenhauer
Stadies in Pessimism 13 Samuel Butler
The Way of All Flesh 14 George Meredith Diana of the Crossways 15 Bernard Shaw
An Unsocial Socialist 16 Geo. Moore Confessions of a Young Man 17 Thos. Hardy The Mayor of Casterbridge 18 Thos. Seltzer · Best Russian Short Stories 19 Oscar Wilde
Poems 20 Nietzsche
Beyond Good and Evil 21 Turgenev
Fathers and Sons 22 Anatole France Crime of Sylvestre Bonnard 23 Swinburne
Poems 25 Wm. Dean Howells Hazard of New Fortunes 26 W. S. Gilbert The Mikado, and Other Plays 27 H. G. Wells
Ann Veronica 28 Gustave Flaubert
Madame Bovary 30 James Stephens
Mary, Mary 31 Anton Chekhov Rothschild's Fiddle, etc. 32 Arthur Schnitzler Anatol and Other Plays 33 Sudermann
Dame Care 34 Lord Dunsany
A Dreamer's Tales 35 G. K. Chesterton The Man Who Was Thursday 36 Henrik Ibsen Plays Hedda Gabler, Pillars
of Society, The Master Builder 37 Haeckel, Thompson, Weismann, etc.
Evolution in Modern Thought Many of these volumes contain authoritative introductions that can be found only in the Modern Library-Hand Bound in Limp Croft Leather stained tops-gold decorations, 804. per volumepostage 60. per volume extra.
BONI & LIVERIGHT, Publishers 101 West 40th Street
for the Selection of Candidates for the next Congress
MTHIS advertisement is the initial step in date should become so popular and powerful
an endeavor to focus attention upon that no party will dare to disregard it, but
the vital importance of insuring the will be compelled by the desire for selfselection of candidates for the next National preservation to offer its candidacies only to Congress who shall be of the highest type men who measure up to the standard which of American citizenship, not only in dis will have been established in the public mind. interested patriotism, but in co-ordinated
The cost of this advertisement has been vision, judgment and ability.
contributed by a private citizen with no Great as are the responsibilities and prob axe to grind and who merely desires to lems which to-day face the Government of serve his country in a constructive manner the country, they sink into relative insig in her time of need. nificance beside the terrific responsibilities
Other citizens of undoubted Americanand complications of the future. This will
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the same motives, are invited to co-operate. the war continues into 1919.
As soon as possible a meeting will be Unless constructive action is taken to
arranged for discussion and organization, influence the character of the candidates but it is desired that replies be sent from
the Sixty-sixth Congress, there is no any part of the country by men and women reason to expect that they will be selected to whom the matter appeals. by any other means, or measured by any other standards, than those which have
It is requested that replies state: applied in the past.
2- Residence. The election will not take place until
3—Occupation. November, but “ nine-tenths of wisdom is 4_Name of firm or company. being wise in time.” It is none too soon to
5—Position occupied in same.
6-Business address. plan to create a nation-wide demand for
7—Whether the incumbent of any public officethe selection of proper candidates. The
National, State, County, or local. endeavor should be made to appeal and 8Whether active in any political organization; apply equally to every party. But the man
if so, in what capacity or manner. Address: CONGRESSIONAL PROPAGANDA,
Post Office Box 533,
MARCH 6, 1918
On account of the war and the consequent delays in the mails, both in New York City and on the railways, this copy of
IEN OF THE NATIONAL ARMY ON PARADE
favors the movement to secure in every district the re-election On Washington's Birthday, New York City saw one of the of all members of Congress who have supported the war, withlost notable military parades that has ever drawn a cheering out regard to party. He has already written a letter urging the rowd into its streets. Nearly ten thousand men of the National
Democrats in Minnesota to make no nomination against Senaurmy marched in uniform and under arms as they will appear
tor Nelson, who comes up for re-election next fall, and who, poner or later on the French front. The soldiers who formed though he is a strong Republican, has been a strong supporter his creat marching body were all from Camp Upton, on Long of the Administration in all its war measures. sland, and most of them were recruits under the selective In the judgment of The Outlook, the one issue which confronts raft four months ago. A battalion of Negro soldiers formed a the Nation at this time is the vigorous, efficient, and prompt art of the procession. Half of this considerable army of men prosecution of the war. The prohibition issue and the woman arched up Eighth Avenue, in order to give the West Side a suffrage issue should by every voter be regarded as subordinate iew, and half up First Avenue, to give the East Side a chance to the war issue. The one question which every voter should ask ) see the soldiers. Both sections then marched toward each himself is, not, To what party does this candidate belong-Demother on Fifty-seventh Street, and united and continued the cratic, Republican, Socialist, Prohibition, or what not?—but, pint parade down Fifth Avenue.
What are his views on the war measures before Congress ; what, All observers agree that rarely have such crowds been seen if he is up for re-election, has been his action, and how far can he 1 the streets of New York as those that gathered to watch be depended on to support the vigorous prosecution of the war, his unique parade. The soldiers made a remarkable impression with no peace until the military power which seeks to dominate ot only upon civilians but upon expert military judges who Europe is destroyed ? eviewed the parade. In physique, in military bearing, in quick esponse to orders, in thorough knowledge of marching technique, his body of men, only a few months ago untrained civilians,
GERMANY'S ADVANCE ON RUSSIA ras really magnificent. It should be remembered, too, that most The advance of German armies against Russia has been rapid, f the officers in command were from the Officers' Reserve and has been practically unresisted both in the north and in the Torps, and were themselves civilians not so very long ago. south. The capture of Dvinsk and Lutsk, reported last week, Sven more striking than the parade itself was the formation of was merely the prelude to the occupation of the great naval be men on the street as they arrived at the great Pennsylvania fortress of Reval, on the Baltic, which guards St. Petersburg ; erminal on their way up from Camp Upton the day before on the center of the line came the capture of Minsk, and to the he parade. They stood on Thirty-fourth Street in parade or south Rovno, formerly a serious obstacle to any German attempt aspection formation two deep until they turned in a column of to occupy the Ukraine from the west. Everywhere the German ours and marched away.
troops took possession of vast quantities of booty-hundreds of As one coming out of the Pennsylvania station on that Thurs cannon and machine guns, thousands of motor cars, and an ay morning looked upon the long line which stretched a quarter. incalculable amount of food and supplies. From the coast of fa mile away, one understood as never before the phrase “ in Esthonia to the southern border of Volhynia Germany has he pink of condition.” In the brilliant sunshine of the morn- cleared of Russian soldiers a deep section of country and is in ng the splendid and healthy color of every man's face made a full possession. ng streak of pink, as though a painter had taken a mixture The leaders of the Bolsheviki in Petrograd soon saw that f cream-white and rose madder from his palette and had Germany was following by deeds its declaration that until a ainted it on canvas. This great citizen-soldier parade reflected peace treaty was signed Germany was at war with Russia, whatonor on the men, their officers, the War Department, Presi- ever Russia might say as to its no longer being at war with ent Wilson, their Commander-in-Chief, and on the fathers and Germany. The Lenine-Trotsky Government at once withdrew 1others of the country who so promptly and patriotically have its refusal to accept Germany's former terms. But the new iven their sons to the great cause of liberty.
offer met at first with little attention. Germany insisted on This visible manifestation of what the right kind of military formal written statements and delayed all efforts towards a iscipline will do for the physique, minds, and morale of Amer peace settlement. It became evident also that now Germany an young men is an argument in favor of universal military proposed to insist on enormous new demands. The proposals raining and service which cannot be gainsaid.
first made at Brest-Litovsk (commonly called the Hoffmann terms, because they were formulated by General Hoffmann)
were enlarged, and the Russian territory to be held by GerOYALTY FIRST
many, or to be indirectly controlled by it, was made to include The League for National Unity, of which Cardinal Gib almost all of the Baltic provinces, a considerable portion of Esthoons is Honorary Chairman and Mr. James M. Beck is Chair- nia, Poland, and the Ukraine. The new terms proposed also lan of the Executive Committee, has issued “ An Appeal to include very large commercial concessions, and, according to he Voters of the United States to Elect a War-Till Victory some accounts, a large money indemnity. It is perfectly evident 'ongress Next November.” Among the signers to this appeal that under any circumstances Germany will long maintain an
the Hon. Elihu Root, who suggests as a motto for the Con- overlordship in these great sections of Russia, and this control Tessional canıpaign “ Loyalty First for ('ongress.” We heartily may be permanent if the result of the world war permits. gree with his statement that “what we want for Congress The disillusionment of the Bolsheviki must now be complete.
the quality of loyalty. Our present business is to elect loyal They were sanguine enough to think that their effort at peace earts."
would precipitate a social revolution in Germany. Now they Washington correspondents report that President Wilson know it will not. They were weak enough to believe that Ger.