The economic limit of saving in each case is dependent upon the person's present needs in relation to present income and conditions, as compared with the prospect of his future needs in relation to his future income and conditions.

Each free economic subject must form a judgment and make his choice as best he can and in the light of experience.

There is no absolute and infallible standard of judgment that can be applied by outsiders to each case.

Yet there is occasion to deplore the improvidence that is fostered and that prevails, especially among those receiving their incomes in the form of wage or salary.

Considered with reference to the possible maximum of welfare of the individuals themselves, the apportionment of their incomes in time is frequently woful.