Excerpt from School Economies

"There is that scattereth and yet increaseth," said the wise King Solomon. "There is that withholdeth more than is meet, but it tendeth to poverty."

Being a wise old monarch, Solomon was not to be taken in by the kind of economy that pinches the sheckel till it spoils the inscription, and then has to let the battered metal go as scrap.

Economy is not the art of spending less, but of realizing more; not of reducing investments, but of enlarging dividends. It is not getting along as best you can with what you have, but having what you can get along with best. Above all it is not the lose-at-the-bung policy of the typical rustic school board when they are penny-wise in paring down all expenses, and pound-foolish in squandering the public good.

In the business world economy tends to regulate itself by a process of natural selection. Lost profits and wasted opportunities quietly drive the inefficient organization to the wall, while more thrifty and enterprising rivals capture the markets and reap the benefits. In commercial matters, therefore, economy needs no more eloquent defense than its own generous balances on the credit side of the account. But in government, church and school affairs the situation is somewhat different. The product cannot be measured in terms of the expenditure. It often requires some study and reflection to determine what true economy really is.

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