Extravagance is the inevitable corollary to cheap living. The expression “living” is used in its very broadest sense, and is by no means confined to the mere consumption of foodstuffs. If living be cheap the thousand and one attributes complementary thereto, from wearing apparel to creature comforts for the home and from raw materials to finished goods, must necessarily rule low in price. Under such conditions the very fact that it is cheaper, as well as easier and simpler, to incur a further capital charge, rather than to endeavour to induce additional service from what is already in hand, though possibly damaged slightly, prompts waste, in precisely the same way as it is more expedient to …
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