The only part of the poem that I vaguely remember is:
"make it do,
Or do without."
Use it up
wear it out
make it do
or do without
The little poem has lots of references on the internet, according to most, it was an anonymous ad run by the U.S. government during WWII.
I recall a similar line from The Waltons TV show, but since it was written in the 70s about the 30s, it could be a slight anacronism