Hugh MacLennan: Saving Owed

Posted by admin on Thursday, June 9, 2022

Hugh MacLennan Money Quote saying a farmer saves by owing it to a trustworthy person. Hugh MacLennan said:
 

 

“The farmer’s way of saving money: to be owed by someone he trusted” — Hugh MacLennan

 

 

In this quote, Hugh MacLennan is describing a traditional way that farmers saved money. Since farmers often lived with tight budgets, being owed money by someone they trusted was a form of savings for them. If a farmer sold goods or services to a neighbor on credit, they essentially had a loan to that person.

As long as the farmer had confidence they would eventually be paid back what they were owed, it acted as a kind of informal savings for them until they collected on the debt.

So MacLennan captures how rural farmers historically built financial security through relationships of mutual aid and credit within their communities, rather than traditional banking methods.