Conference Reports of the Church of Jesus Christ of Latter-Day Saints

ELDER JAMES E. FAUST 23 Genealogical Data Man-days of labor donated to Names cleared in 1985 for temple Welfare Services 244,766 endowments 10,552,130 Bishop's orders from storehouses 344,562 Temples Number of endowments performed Prominent Members Who Have during 1985: Passed Away Since Last April For the living 54,554 For the dead 4,857,052 President Spencer W. Kimball, at age Temples in operation 37 twelfth President of the Church, Temples planned or under ninety, on November 5, 1985; Elder construction 10 Bruce R. McConkie, a member of the Temples closed during the year Council of the Twelve Apostles; P. wife of Elder for renovation 1 Norma Anderson, Five temples were dedicated and one Joseph Anderson; Dorothy C. Stone, rededicated in 1985. wife of Elder O. Leslie Stone; and Richard P. Condie, director of the Salt Lake Tabernacle Choir for seventeen Church Educational System years. Total enrollment during 1984-85 school year: Seminaries and Institutes, including President Monson special programs 349,827 Thank you, Brother Edling and Church schools and Brother Watson. colleges 45,558 It will now be our opportunity to Continuing education 366,257 hear from Elder James E. Faust, a member of the Council of the Twelve Welfare Services Apostles. He will be our first speaker, Persons assisted Social by LDS and he will be followed by Bishop Services 82,804 Glenn L. Pace, Second Counselor in Persons placed in gainful the Presiding Bishopric. employment 34,552 Elder James E. Faust Care for poor and needy, and help themselves" (in Conference Re- become self-reliant port, Oct. 1936, p. 3). Some of us are children of the I wish to speak of the basic prin- Great Depression in the United States ciples that keep our feet on the ground over fifty years ago. Most of us who economically. This is important to our passed through that period will never happiness. Let us examine ourselves forget the difficult economic times al- and, like pilots in the sky, take our most everyone experienced. At that bearings to see if we are on course fi- time many banks failed; people lost nancially. We must build upon sound their life's savings; a great many were principles. The bedrock principle of unemployed, and some of them lost which I speak is that the responsibility their homes because they could not pay for welfare rests with me and my fam- the mortgage. Many went hungry. If ily. In 1936 the First Presidency said in we didn't eat our oatmeal cereal for a great statement of purpose, "The aim breakfast, we would often have it fried of the Church is to help the people to for lunch or dinner. Such widespread 24 GENERAL CONFERENCE Saturday, April 5 First Day economic problems could come again. tices described as "leverage," "credit But any of us, at any time, could meet wealth," and "borrow yourself rich." with a personal calamity, such as sick- Such practices may work successfully ness or an accident, which could limit for some, but at best they succeed only or destroy our income. for a time. An economic reversal al- The purpose of the welfare pro- ways seems to come, and many who gram is to care for the poor and the have followed such practices find needy and make the members of the themselves in financial ruin and their Church, by their obedience to gospel lives in shambles. principles, strong and self-reliant. At Elder Ezra Taft Benson stated: "A the center of caring for the poor and the large proportion of families with per- needy in a worldwide church is a gener- sonal debt have no liquid assets what- ous contribution to the fast offerings, soever to fall back upon. What troubles and personal and family preparedness. they invite if their income should be At the very heart of taking care of our suddenly cut off or seriously reduced! own needs is our own energy and abil- We all know of families who have ob- ity, with help to and from our own ligated themselves for more than they families. could pay" (Pay Thy Debt, and Live, I should like to discuss five pre- Brigham Young University Speeches scriptions which, if followed, will of the Year [Provo, 28 Feb. 1963], make each of us better able to control p. 10). our destinies. Owning a home free of debt is an important goal of provident living, al- First prescription: Practice thrift though it may not be a realistic possibil- and frugality ity for some. A mortgage on a home leaves a family unprotected against se- There is a wise old saying: "Eat it vere financial storms. Homes that are up, wear it out, make it do, or do with- free and clear of mortgages and liens out." Thrift is a practice of not wasting cannot be foreclosed on. When there anything. Some people are able to get are good financial times, it is the most by because of the absence of expense. opportune time to retire our debts and They have their shoes resoled, they pay installments in advance. It is a truth patch, they mend, they sew, and they that "the borrower is servant to the save money. They avoid installment lender" (Proverbs 22:7). buying, and make purchases only after Many young people have become saving enough to pay cash, thus avoid- so hypnotized by the rhythm of ing interest charges. Frugality means to monthly payments they scarcely think practice careful economy. (See Web- of the total cost of what they buy. ster's New World Dictionary, 2d. col- They immediately want things it took lege edition.) their parents years to acquire. It is not The old couplet "Waste not, want the pathway to happiness to assume not" still has much merit. Frugality re- debts for a big home, an expensive car, quires that we live within our income or the most stylish clothes just so we and save a little for a rainy day, which can "keep up with the Joneses." Pay- always seems to come. It means avoid- ment of obligations is a sacred trust. ing debt and carefully limiting credit Most of us will never be rich, but we purchasing. It is important to learn to can feel greatly unburdened when we distinguish between wants and needs. It are debt-free. takes self-discipline to avoid the "buy now, later" pay philosophy and to Second prescription: Seek to be adopt the "save now and buy later" independent practice. There are some investment coun- The Lord said that it is important selors who urge speculative credit prac- for the Church to "stand independent ELDER JAMES E. FAUST 25 above all other creatures beneath the mind. It includes family solidarity and celestial world" (D&C 78:14). Mem- spiritual increase" (in Conference Re- bers of the Church are also counseled to port, Oct. 1979, p. 119; or Ensign, be independent. Independence means Nov. 1979, p. 81). many things. It means being free of It is my firm belief, after many drugs that addict, habits that bind, and years of close observation, that those diseases that curse. It also means being who honestly pay their tithes and free of personal debt and of the interest offerings do prosper and get along bet- and carrying charges required by debt ter in almost every way. It is my testi- the world over. mony that in discharging this debt to the President J. Reuben Clark's Lord, one enjoys great personal satis- classic statement on interest bears faction. Unfortunately this great satis- repeating: faction will be known only by those "Interest never sleeps nor sickens who have the faith and strength to keep nor dies; it never goes to the hospital; this commandment. it works on Sundays and holidays; it never takes a vacation; it never visits Third presciption: Be industrious nor travels; it takes no pleasure; it is never laid off work nor discharged from To be industrious involves ener- employment; it never works on reduced getically managing our circumstances to hours; it never has short crops nor to our advantage. It also means be of droughts; it never pays taxes; it buys no enterprising and to take advantage re- food; it wears no clothes; it is unhoused opportunities. Industry requires and without home and so has no re- sourcefulness. A good idea can be pairs, no replacements, no shingling, worth years of struggle. plumbing, painting, or whitewashing; A friend who owned some fertile sister his it has neither wife, children, father, fields complained to his about mother, nor kinfolk to watch over and lack of means. "What about your care for; it has no expense of living; it crops?" asked the sister. The impover- has neither weddings nor births nor ished man replied, "There was so little there deaths; it has no love, no sympathy; it snow in the mountains, I thought is as hard and soulless as a granite cliff. would be a drought, so I did not plant." Once in debt, interest is your compan- As it turned out, unforeseen spring ion every minute of the day and night; rains made the crops bountiful for those you cannot shun it or slip away from it; industrious enough to plant. It is a de- you cannot dismiss it; it yields neither nial of the divinity within us to doubt to entreaties, demands, or orders; and our potential and our possibilities. whenever you get in its way or cross its The great poet Virgil said, "They course or fail to meet its demands, it conquer who believe they can" (Inter- crushes you" (in Conference Report, national Dictionary of Thoughts, F.

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