Word: thrifting
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Johnson regards the change-over as a concession to thrift and good bookkeeping. Bankers, college administrators, and students with NDEA loans--the people most concerned with a switch in the procedure--are not as dispassionate. Forcing a student to obtain a loan from a hometown firm, they say, will create problems never encountered when all he had to do was walk to his college's financial aid office and sign a single form...
...brother at Christmas time, has had so many requests since then that she has temporarily shut her shutter. At $10 each, she is selling 40 "limited-edition," 41-in., signed ties each week. Says she of her sudden success: "People used to get ties like these for 25? in thrift shops but now the shops have been picked clean, and the tie manufacturers are just beginning to think big again...
Virtue in Thrift. Almost like a small town banker, Hudgins gets personally involved in many loan applications. Doubtfuls usually wind up in his second-floor office to plead their cases, frequently get their loans after careful investigation. "We only take bankable situations," insists Hudgins. But these include some situations that most other banks would not touch. Examples: a small businessman who found himself in hock to a loan shark to the extent of $3,000 a month persuaded Freedom National to take over his loan, now pays only $600; another businessman who asked for $10,000, instead was given...
Hudgins' job now is to find enough money to lend, especially since he plans to open a branch in Bedford-Stuyvesant, New York's other big Negro ghetto. To help attract new deposits, he preaches Sundays in Harlem churches. His invariable sermon subject: the virtue of thrift...
...Establishment leader who disdained what he called "the boorish proletariat" and said: "For better or worse, I am a bourgeois economist." Keynes was suspicious of the power of unions, inveighed against the perils of inflation, praised the virtue of profits. "The engine which drives Enterprise," he wrote, "is not Thrift but Profit." He condemned the Marxists as being "illogical and so dull" and saw himself as a doctor of capitalism, which he was convinced could lead mankind to universal plenty within a century. Communists, Marxists and the British Labor Party's radical fringe damned Keynes because he sought to strengthen...