Philippine Postal Savings Banks: What Postal Savings Banks Are and Rules and Regulations Governing Their Use (Classic Reprint)
by Philippine Islands Bureau of Posts
Excerpt from Philippine Postal Savings Banks: What Postal Savings Banks Are and Rules and Regulations Governing Their UseThe formation of capital is only made possible by saving. In these days everyone is familiar with the benefits to be derived from the use of capital. The labor of one's hands is multiplied many fold by the use of tools and machinery. Not only is this true but by these means many things are produced that would be otherwise impossible. And yet if everything that is now produced were consumed we would soon fall back into barbarism. Out of the multitude of products of to-day something must be laid aside with which to replace the means of production which wear out rapidly.If a man consumes all his earnings it will be impossible for him ever to rise above his present station in life. Not only is this true but in times of adversity he will have no means of preventing a fall to a still lower level, so that a failure to save inevitably leads a person on the downward road to destitution, want, and suffering.The first centavo saved is, however, a step toward better things. It means that the consumption of something use less or unnecessary has been abandoned and the money saved for the purpose of buying something necessary in the future. Man has been said to be but a bundle of wants. Success in life consists in subordinating the lower of these wants to the higher.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Excerpt from Philippine Postal Savings Banks: What Postal Savings Banks Are and Rules and Regulations Governing Their Use The formation of capital is only made possible by saving. In these days everyone is familiar with the benefits to be derived from the use of capital. The labor of one's hands is multiplied many fold by the use of tools and machinery. Not only is this true but by these means many things are produced that would be otherwise impossible. And yet if everything that is now produced were consumed we would soon fall back into barbarism. Out of the multitude of products of to-day something must be laid aside with which to replace the means of production which wear out rapidly. If a man consumes all his earnings it will be impossible for him ever to rise above his present station in life. Not only is this true but in times of adversity he will have no means of preventing a fall to a still lower level, so that a failure to save inevitably leads a person on the downward road to destitution, want, and suffering. The first centavo saved is, however, a step toward better things. It means that the consumption of something use less or unnecessary has been abandoned and the money saved for the purpose of buying something necessary in the future. Man has been said to be but a bundle of wants. Success in life consists in subordinating the lower of these wants to the higher. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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