Chapter I: Preface

This book is intended as a sequel to "Self-Help," and "Character." It might, indeed, have appeared as an introduction to these volumes; for Thrift is the basis of Self-Help, and the foundation of much that is excellent in Character.

The author has already referred to the Use and Abuse of Money; but the lesson is worthy of being repeated and enforced. As he has already observed,--Some of the finest qualities of human nature are intimately related to the right use of money; such as generosity, honesty, justice, and self-denial; as well as the practical virtues of economy and providence. On the other hand, there are their counterparts of avarice, fraud, injustice, and selfishness, as displayed by the inordinate lovers of gain; and the vices of thoughtlessness, extravagance, and improvidence, on the part of those who misuse and abuse the means entrusted to them.

Sir Henry Taylor has observed that "industry must take an interest in its own fruits, and God has appointed that the mass of mankind shall be moved by this interest, and have their daily labour sweetened by it." The earnings and savings of industry should be intelligent for a purpose beyond mere earnings and savings. We do not work and strive for ourselves alone, but for the benefit of those who dependent upon us. Industry must know how to earn, how to spend, and how to save. The man who knows, like St. Paul, how to spare and how to abound, has a great knowledge.

Every man is bound to do what he can to elevate his social state, and to secure his independence. For this purpose he must spare from his means in order to be independent in his condition. Industry enables men to earn their living; it should also enable them to learn to live. Independence can only be established by the exercise of forethought, prudence, frugality, and self-denial. To be just as well as generous, men must deny themselves. The essence of generosity is self-sacrifice.

The object of this book is to induce men to employ their means for worthy purposes, and not to waste them upon selfish indulgences. Many enemies have to be encountered in accomplishing this object. There are idleness, thoughtlessness, vanity, vice, intemperance. The last is the worst enemy of all. Numerous cases are cited in the course of the following book, which show that one of the best methods of abating the Curse of Drink, is to induce old and young to practise the virtue of Thrift.

Much of this book was written, and some of it published, years ago; but an attack of paralysis, which compelled the author to give up writing for some time, has delayed its appearance until now. For much of the information recently received, he is indebted to Edward Crossley, Esq., Mayor of Halifax; Edward Akroyd, Esq., Halifax; George Chetwynd, Esq., General Post Office; S.A. Nichols, Esq., Over Darwen; Jeremiah Head, Esq., Middlesborough; Charles W. Sikes, Esq., Huddersfield: and numerous other correspondents in Durham, Renfrewshire, Yorkshire, Lancashire, Staffordshire, and South Wales.

The author trusts that the book will prove useful and helpful towards the purpose for which it is intended.

London, _November,_ 1875.

CONTENTS.

CHAPTER I.

INDUSTRY.

Private economy--Useful labours--Our birthright--Results of labour--Necessity for labour--Industry and intellect--Thrift and civilization--Thrifty industry--Thrifty economy. Pages 1--10

CHAPTER II.

HABITS OF THRIFT.

Workmen and capital--Habits of economy--Self-indulgence--Results of thriftlessness--Uses of saved money--Extravagant living--Bargain-buying--Thrift and unthrift--Johnson on economy--Self-respect--Self-help--Uncertainty of life--Laws of mortality--Will nobody help us?--Prosperous times the least prosperous--National prosperity--Moral independence. Pages 11--29

CHAPTER III.

IMPROVIDENCE.

Misery and wealth--The uncivilized--The East End--Edward Denison--Thrift in Guernsey--Improvidence and misery--Social Degradation--Fatalism of improvidence--Self-taxation--Slowness of progress. Pages 30--40

CHAPTER IV.

MEANS OF SAVING.

Earnings of operatives--Colliers and iron-workers--Earnings of colliers--The revellers--Lord Elcho and the colliers--High wages and heavy losses--High wages and drink--Sensual indulgence--Indifference to well-being--Hugh Miller's experience--Mr. Roebuck's advice--Survival of slavery--Extinction of slavery--Power unexercised--Earnings and character--Ignorance is power--Results of ignorance--Increase of knowledge--Education not enough--Words of Sir Arthur Helps--Divine uses of knowledge--Public school education--Words of William Felkin. Pages 41--64

CHAPTER V.

EXAMPLES OF THRIFT.

Spirit of order--Examples of economy--David Hume--Rev. Robert Walker--Self-application--Distinguished miners--Geo. Stephenson--James Watt--Working for independence--Working for higher things--Work and culture--Richardson and Gregory--Results of application--Distinguished artists--Canova and Lough--John Lough--Lough's success--Words of Lord Derby--James Nasmyth--Bridgewater foundry--Advice to young men. Pages 65--88

CHAPTER VI.

METHODS OF ECONOMY.

Keeping regular account--Generosity and forethought--Prudent economy--A dignity in saving--Self-improvement--Causes of failure--The price of success--Power of combining--Principle of association--Savings of capital--Loss by strikes--Money thrown away--Industrial societies--Co-operative companies--Equitable pioneers--Darwen co-operatives--Spread of co-operation--Thrift conservative--Uses of investments in building societies. Pages 89--109

CHAPTER VII.

ECONOMY IN LIFE ASSURANCE.

Co-operation in assurance--Improvidence cruel--Compensation of assurance--Benefit societies--French and Belgian thrift--Workmen's societies--Manchester Unity--Duty and Dinners--Low rates of contribution--Failure of friendly societies--Improvement by experience--Defects will disappear. Pages 110--122

CHAPTER VIII.

SAVINGS BANKS.

Direct saving--Uses of saved money--Beginnings of savings banks--Dr. Duncan of Ruthwell--Establishment of savings banks--Classes of Depositors--Magic of drill--Military savings banks--Savings of soldiers--Soldiers abroad--Deposits in savings banks--Savings at Bilston--Savings of working men--Penny banks--Charles W. Sikes--Mechanics' institute banks--The poor man's purse--Depositors in penny banks--They cultivate prudent habits--Influence of women--Early lessons in thrift--Belgian Schools--Facilities for saving--Extension of savings banks--Money order offices--Post office savings banks--Charles W. Sikes--Lessons of thrift--Mechanics' savings banks--Savings of artizans--Savings in Preston. Pages 123--158

CHAPTER IX.

LITTLE THINGS.

Luck and labour--Neglect of little things--"It will do!"--Spending of pennies--The thrifty woman--A helpful wife--A man's daily life--The two workmen--Rights and habits--Influence of the wife--A penny a day--The power of a penny--Joseph Baxendale--Pickford and Co.--Roads and Railways--Business maxims. Pages 159--178

CHAPTER X.

MASTERS AND MEN.

Want of sympathy--Masters and servants--Christian sympathy--Competition--What capital represents--Workmen and employers--The Ashworths--New Eagley Mills--Improved workpeople--Public spirit of manufacturers--Mr. Lister of Bradford--Mr. Foster's speech--Great men wise savers--Sir Titus Salt--Saltaire--Its institutions--Music and sobriety--Mr. Akroyd, Halifax--Yorkshire penny bank--Origin of the bank--How to help the poor--Saving helps sobriety--Drunkenness put down--"Childish work"--Penny banks. Pages 179--204

CHAPTER XI.

THE CROSSLEYS--MASTERS AND MEN (CONTINUED).

John Crossley--Martha Crossley--A courtship begun--A courtship concluded--John Crossley begins business--Dean Clough Mill--The Crossley family--Sir Francis Crossley--Martha Crossley's vow--Halifax People's Park--Martha's vow fulfilled--Co-operation of colliers--Partnership of industry--Other co-operative schemes--Jeremiah Head--Newport rolling mills--Bonuses to workmen--Mr. Carlyle's letter--A contrast--A hundred years ago--Popular amusements--Improvement of manners--English mechanics and workmen--English engineers and miners--Swiftness of machinery--Foreign workmen--Provident habits of foreigners. Pages 205--232

CHAPTER XII.

LIVING BEYOND THE MEANS.

Hypocrisy and debt--Conventionalism--Keeping up appearances--Exclusive circles--Women and exclusiveness--Women and extravagance--Running into debt--The temptation of shopkeepers--Temptations to crime--How crime is committed--Love of dress--Gents--Reckless expenditure--Knowledge of Arithmetic--Marriage--Happy tempers--Responsibilities of marriage--Marriage not a lottery--The man who couldn't say "No"--The courage to say "No"--"Respectable" funerals--Funeral extravagance--John Wesley's will--Funeral reform. Pages 233--258

CHAPTER XIII.

GREAT DEBTORS.

Greatness and debt--Seedy side of debt--Running up bills--Loan clubs--Genius and debt--Fox and Sheridan--Sheridan's debts--Lamartine--Webster--Debts of men of science--Debts of artists--Italian artists--Haydon--The old poets--Savage and Johnson--Steele and Goldsmith--Goldsmith's debts--Goldsmith's advice--Byron's debts--The burden of debt--Burns and Sydney Smith--De Foe and Southey--Southey and Scott--Scott's debts and labours--Great poor men--Johnson's advice--Genius and debt--Literary men. Pages 259--285

CHAPTER XIV.

RICHES AND CHARITY.

Helping the helpless--Dr. Donne--Rich people--Love of gold--Eagerness to be rich--Riches and poverty--Riches in old age--Riches no claim to distinction--Democrats and riches--Saladin the great--Don Jose de Salamanca--Compensations of poverty--Honest poverty--Poverty and happiness--Charity--Evils of money-giving--Philanthropy and charity--Rich people's wills--Stephen Girard--Thomas Guy--Educational charities--Peabody's benefaction--Benefactors of the poor--The Navvy's Home. Pages 286--314

CHAPTER XV.

HEALTHY HOMES.

Healthy existence--Necessity for pure air--The fever tax--The Arcadians--The rural poor--Influence of the home--Unhealthy homes--Health and drunkenness--Wholesome dwellings--Edwin Chadwick--Expectancy of life--The poor laws--The sanitary idea--The sanitary inquiry--Sanitary commission--Sanitary science--Results of uncleanness--Losses by ill-health--That terrible Nobody!--Home reform--Domestic improvement--Cleanliness--Dirt and immorality--Worship in washing--Knowledge of physiology--Domestic economy--English cookery--Morals and cookery--Work for ladies--Joseph Corbet's story. Pages 315--353