, 1874-10-02

growth ~hch Tic dnbt sontrscie to aiaisis .t''
ihnR has mot beou aN!clontly obsoryoj. Il IL ti,a
facility witch such deets gys to tho capitalist Tor
living lila ron tic trSSs u .a ~ srys s"Fp'a.
tho eo,n',nity ni t.e aay$atsae u lila ombarking ii
soho ssi;Ss n,sne's Tks fr inaancO prominent
I.r o,o-an til, you will tni to 10 is l,ssosy aud
expotscncs 81 A. oG or morn ptr!ou Of i.s lrosperota
t. oser1owing of noay ownel ly s icsdins cap,ta-
~, waiting for ~ onIas.antsy 70 tsest and sars
9s niSska Of stores. into the outlook, for d new
ss ,no o. Re{s gao f Sf hs sw Mns nD r
hi question. Juat t!Sn However. ~ ti,oso capallst.
ehanneis Of gn 10 tl,omscses and pront to lhe eo,-
mahlttt a1oIher rot Of gentlemen. having great III
ns's 'eca =, Will tue ,nNn!cal wess That ue. eu!it tho
taooo ouu 10 5oooo0o of arst.e.ta roc srnt hoIs
nfa PLACED on the Iarkcf mud onr capit9l!sta alcn:
aneh clear margin Of pr1t can Ga fo,t,l in aa,lu.
sacres, os blochs Of n!urts, Or railway aarcs. or
SLOW away esr odd ,nI1,ona ~ city Londe and IL
fofo themselves ihcceforh to tho cnuoDng occupa-
rhouEh ths furrspuy rur,ortu 10 bo snclo caao.
! 1t ilsl,stratoa
| A GREAT TEuTtI,
srrpun captnl hH ueS, yitc Into bontls of .ais
kind and IL theroby rcn,orcd froa active lartcIpa-
io ~ iha I1ainfss lsotcss of .e contrs Which ara
l.aye great eaterrrise hut who hamrercl for luck
Of capital and aro constantly ctco,ncrtig the OWLS of
hundreds of ,niions Of cnrtal lhss haso tecn hidden
BY tha asc'eo Of sas % oposues M for nyestment M nsst
forcG into grest b. e.'s,sss oncrproea tho country
contracted conat hsvr been accomplished Ly tho n,cra
proco's Of t1Htion on tlo vastly cnperor amount Of
! {ItuSn tN1,111 ftnk1 1c1t rairx
It ~ huo matter Of serious confederation whether
| tAesn largo municipal ioaus havo mol Ind
tending continually to oroate .ttingiry tn tho n,onoy-
arket and False tho rate Ut iuterust To thu borrower
qar!oro gsirt tho hs rates chata"a 1SSy for oaev. M ~
aud yn II aate5 md ere.: cltirs will ood tho markets
with their obligations It per cent, s,d oftct1cs ut
htHler rato OF interest, ll1W auy borrower On
nero ,nt1ividat eret! expect or tuio to ncgottuto
oans at The u-ns!toned per cent rats, which, III
ralsy It WIN inevitably hnrpcn that tito itiSiinal
citizen will pay from 10 er cent hghvr for money
s s E y S sy 9SsSs' S The
frct eceulity the Individual fs nocesarily subjected
The squeezing when ho wants inouoy On hts
o@n nou, a,ltl lo then realizes tho unhappy duplicate
eity lo1n ~ ,loxotlaon Of which haa already in
money he weu cornpeed 10 Gorrow in tho prosreatigu
! Of llia private business.
il regard 10 ine,rins s:ato, county,
and raunic!pai debt in the past.
WHAT II THE EEafCDT2
ntlswbr, Gstt nNA foremost, I'LL awakened. active.
well-la;al7o,i nnbio Judgment, Which Will suggest,
demand, and enforce wise caution ana conbsrvataye
proroee aud ycs venture to Augscs: that tho Le3isa-
tses u many slae1 .avo aitcgcor too largo power
S sfss 1 f nSss wao ssfas r. subject
entertain pratdg1ncnt Oh this particular plrpe Of
tho question In favor Of tho stringent provision in tho
hns power to incur LollsrH debt except iur var
purposes under Tho pressure Of actuai danger and
tro-tatrds OF tho Legislature and then suJntod 10
vote Of she people, f. tho prerequisite Tor ploaRy the
eff ct s s sat- r. for sn sy oiSs prpoas
Ana M State Constitutions the prcclte ends far which
n,s @ sst sola b. to,s
ccnturs q. ls nEirnl valuation Of lilo city or town
sGainst the overlapping Of conty deIts 10 tint, whiIo
tho toT W. guarding rs credit with care, Il should
trarass extension Of the ercd of tho ] COUNTY I'LL *
well 10 sppiy 10 III Site eot7 ana mluclral % de5ts
THE N1aE pRHoAuTyoN
ls!a dowa y Lii; eae7gon ho bs.s Of iii SOUND I
aopac statesman Equally apcsts to tdi1, Ill pos.luo s
forms Of public obligation, md a:lordlng i,aas at
debtor:
feve borrow dollar without laying tax at tito
samo instant for raying tho Interest annually, and tho
principal within given term mud consider tas lax
A. pletiged to lhe crcdifota on tho public fait, On
oucl pledge NJ this, sacrcy o:cEvad, Goyernraent
may swaye command, reasonable interest, ali thn
equivalent tax Is ualutary warntrg ia tlen md
soIr IT, constituents sganst opl'resAon Bankruptcy aud
hut gonteme1, looking at iho serious aida of sbtg
question with the gravity wlic. ia becoming lot Us
rot he ied into gloon ar aespoaeney CT discourage
great, We aontanty abla to hear II, aud 10 prog
psr and grow strong under It, Our progress in popu-
wosgs upon us To-day IN light ss feather to-,qorrow.
and II we can but e1trsise the Ordinary prudence Of
Bek-prescrvat1on onr future aa people will
FAR sunP!.ss IN POWER AND RICHES !
The mast o1trayagant calculations based prog
resa In the paetwonterfu ua that progress aa lces,
1t ~ but eighty foars ance Qover1,nuut WAS
orgauizcd with population OF Less than deu0, 900,
and valuation Of rrorerty for the entLeu thrtee.s
sLe actual wealth Of your own great State to.Iav.
faesiitlo1 for thon grcatiy
res.rcted manufactures aud tho arts ia feehIest
Infancy agriculture rt,le and not highly remu.
noratiyc. boeatiao E hauduuid, commerce, had not
been 4uicksnea into lfa aud ytgor Property at TINT
ssna, wages werc low and to tic political econost
measuring Tho condition and CAPACITY OF the couutry,
sstorabla 1nrguitre Aud yet our ancestor. Iil mt
hesitate to assume the Revolutionary debt Of
0oo-nors than one-sesenti Of al .Le property thy
oTncd hlr. Jeheraon, who WAS tho most disruatfnl
Of 81! hc leading States OF that ay in regard to
TUG ability Of u Nation to s,stain tic load, Was vet
rates o increane in population aud wealth then oalu,!
lated uI,on should To realized. It may teach Il lea-
HG1 OF tcust anu nbpc1uluEea 10 remember that tho
iitIhcs estimate Of that day would have produced
population of less than 1000 900 In 1870 aud ri a
CregAto wealth nt tho suo period OF Ieas than 81 oU
uoo o0o Our population, yastly II has outra1 Tho
prophecies referred to- exhibits ratio far hpow lilo
incrcase Of wealth which III 1s7U Ind roaclsd lilo
cNertuoua aggregate Of
Thirty THOUSAND aSILLIoNA-
nearly ega-fod greater than tho anticipated tncrcaeo
wh;h NJ Je'!erson had regarded aa foo sanguno.
Taking our total Nationul, Sata county, and l,ntelpa
dtbt aud It amounts to Gonctlng over $J 200 000
Of little moro than onetcnh Of the entire property
Of tle country estimated III The cesua Of 1870 nu
probably not over one.ftcrnth OF la actual wealth al
css ratio 81 debt to property than tle aoverant as
smed in 1900 Willie our rato Of Increase a,,d our pow
e. Of creating wealth ransceud tc same capactics OF
tat da! in an largo degrees that do not know Of my
comparison OF mutt Of nc4ture taat could give any nj
eqliGto conception uf Its yssstNess
n'aS. however seryo 70 gve ns aome idos Of our
enormous productive power TO reflect tut Ia point Of
annnai 5neso uni earnings, stand to-day It tic
eaa OF AZ the natioua,-iar exceeding Great nritnn
France, K1ssta, Or tho 1e1nsl, E1lnfrr Next 10 us
Indeed eamss % @ ores nrita but alI tho earnings anu
income ot thai KinRao will oxcuetl 81 U0V UV0 0NJ
wleress NO nye in cxccsu If $GO0o 600 rsrE
oned cn guild basix, cn1 both tablen and rtutistea
OuUtO{l frfluI j3rfIjI Hl,tt xfo