A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from September 02, 2013
“Money is like an arm or a leg—use it or lose it”

American automaker Henry Ford (1863-1947) didn’t believe in hoarding money and famously advised people to “use it or lose it.” Ford said in November 1931:

“Money is like an arm or a leg—use it or lose it. Try to save your strength by not using it, and you lose all the strength you had. With money it is the same. Germany put her money away to save it. But hoarded money shrinks; the value evaporates. Then Germany poured out money like water, and it was worth just about as much as water. It was cheaper to spend than to save. It usually is.”


Wikipedia: Henry Ford
Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist, the founder of the Ford Motor Company, and sponsor of the development of the assembly line technique of mass production. Ford did not invent the automobile, but he developed and manufactured the first automobile that many middle class Americans could afford to buy. His introduction of the Model T automobile revolutionized transportation and American industry. As owner of the Ford Motor Company, he became one of the richest and best-known people in the world. He is credited with “Fordism”: mass production of inexpensive goods coupled with high wages for workers. Ford had a global vision, with consumerism as the key to peace. His intense commitment to systematically lowering costs resulted in many technical and business innovations, including a franchise system that put dealerships throughout most of North America and in major cities on six continents. Ford left most of his vast wealth to the Ford Foundation and arranged for his family to control the company permanently.

Google News Archive
8 November 1931, Milwaukee (WI) Journal, pg. 2, col. 7:
‘Don’t Hoard.’
Ford Advises
‘Use Money or Lose
Money,’ He Warns;
Opposes Dole

BY LEASED WIRE TO THE JOURNAL.
Detroit, Mich.—Henry Ford expressed himself on hoarding, government regulation of business and government imposed curtailment of production, the dole, unemployment insurance and the current rise in wheat in an interview here Saturday. Of hoarding, he said:

“Money is like an arm or a leg—use it or lose it. Try to save your strength by not using it, and you lose all the strength you had. With money it is the same. Germany put her money away to save it. But hoarded money shrinks; the value evaporates. Then Germany poured out money like water, and it was worth just about as much as water. It was cheaper to spend than to save. It usually is.”

Google Books
The American treasury, 1455-1955
By Clifton Fadiman
New York, NY: Harper
1955
Pg. 702:
Money is like an arm or a leg — use it or lose it.
Interview, New York Times, November 8, 1931

Google Books
Orient Book Of Quotations
By Meera Malhotra
New Delhi: Orient Paperbacks
1986
Pg. 131:
Money is like an arm or a leg— use it or lose it. — HENRY FORD: Interview, N.Y. Times, Nov. 8. 1931

Google Books
Dictionary of Proverbs
By George Latimer Apperson
Ware, Herts.: Wordsworth Reference
2006
Pg. 605:
1931: H. Ford: New York Times, 11 Aug, Money is like an arm or leg: use it or lose it.

Google Books
Similes Dictionary
Edited by Elyse Sommer
Canton, MI; Visible Ink Press
2013
Pg. 348:
Money is like an arm or a leg, use it or lose it —Henry Ford, New York Times, November 8, 1958

Posted by Barry Popik
New York CityBanking/Finance/Insurance • Monday, September 02, 2013 • Permalink