The separation between pure and applied maths is already well-established. The reason maths needs taught as a separate subject is that it is an abstract subject, regardless of whether you take the formalist or constructivist perspective.
Most maths subjects in primary and high school incorporate some form of application in an attempt to make it relevant; Euclidean geometry always has problems involving mowing the grass or filling baths, algebra has word problems related to industrial production (operations), the exponential function is nearly always introduced alongside problems of compound interest, limits go all the way back to Zeno's paradox, discrete maths (counting) has arranging families in a theatre row, probability has balls in vases, trigonometry has ships sailing or weights hanging and calculus will combine Newton and race cars accelerating.
Understanding maths in general (in the abstract) lets an individual learn how to then go ahead and apply the techniques in specific situations in order to model events. Only teaching specific models would really limit the student if it's done at too early an age while maths in general is already being taught using applications as described above.
There was a really cool mathematician called Hardy who wrote a little pamphlet called
A mathematician's apology in the first half of the twentieth century. He basically said, "alright, maths is useless but I think it's beautiful." Of course, some of the examples he used from number theory were later required reading for anyone involved in cryptography but it's still a good read.
There's a reason hard science courses are pretty well paid; they're difficult, challenging and not for everyone (psychology major here, thank you

). These articles are topical and might be considered in relation to the influx of Soviet scientists after WW2, the brain drain from the UK in 1960s and the general requirement for the immigration of technically-skilled individuals. But mostly a case of people writing a lot of waffle
Any time I read one of these articles, I've got to have a little reality-check. Yeah, we can cite the two rules written above Plato's Academy of "let no man enter here ignorant of geometry" and "know thyself". The trick is to be ruthlessly honest; what's my attitude to maths and what have I done about my own maths education because it's noone's else's fault.