The Pamphlet Collection of Sir Robert Stout: Volume 80
A Definition of Thrift
A Definition of Thrift
Now on these occasions the mover of the report, as I observe my son did last year, is expected to say a few words upon thrift. Thrift is one of these virtues which are, perhaps more than we think, much easier to preach than to practise, and to a Scottish audience, our reputation in the world being what it is, it would seem almost like carrying coals to Newcastle to advocate thrift in any shape or form. Well, I will content myself with repeating, in the words of Shakespeare, what comprehends, after all, the whole root of the matter, that 'thrift is blessing,' not merely because of the accumulation of substance, but because of the foundation and strengthening of character. (Hear, hear.) Now, as regards the financial aspect, I am not anxious to say a great deal on this occasion. From the financial point of view my definition of thrift would be this—getting full value for your money and looking ahead. Of course, the historic definition which has given so much comfort and encouragement to thousands is that of Mr. Micawber in David Copperfield. I copied out the words last night that 1 might be perfectly certain that I should have them right this morning, with the disastrous result that I got so interested in David Copperfield that I found it difficult to return to the consideration of thrift, (Laughter and applause.) What did Mr. Micawber say to David Copperfield on a famous occasion? 'Annual income, £20; annual expenditure, £19, 19s. 6d.—result, happiness. page 6 Annual income, £20; annual expenditure, £20, 0s. 6d.—result, misery.' (Laughter.) Well I suppose that is practically true. It means in reality that a man who is beforehand with the world to even a small degree occupies a very different position relatively to the rest of the world as compared to the man who is behindhand with it to as small an extent. Of course, on the financial view of thrift we know it is the foundation of all prosperity, even of those colossal fortunes which we hear of in America, but which we never realise in this country. (Laughter.) It is perfectly true, I think, that Mr. Andrew Carnegie, who began in the very humblest situation in life in the town of Dunfermline, has worked his way up to a fortune which I cannot even attempt to estimate, but which I know, from the beneficent expenditure, must be enormous, mainly by a beginning of thrift. This morning, in the newspapers, we had another example of a lad who landed in South Carolina sixty-three years ago with 12s. in his pocket, and died worth ten millions sterling yesterday. I do not mean to argue—I am not such a fool as to argue—that it was by mere thrift that these immense fortunes have been accumulated; but I am here to argue my profound faith that they were in the commencement founded on thrift, and on nothing but thrift—(hear, hear),—and that when by thrift a small but substantial sum was accumulated, it was so utilised by the genius of speculation as to amount to these enormous fortunes.