The central Presbyterian. [volume] (Richmond, Va.) 1856-1908, 1882-12-20
For the Central Presbyterian.
The Publication Debt.


Ever since our Assembly adopted its
plan for raising $4,000 in aid of the
Publication cause, | have expected to see
In your paper some comments on the sub
ject from some sources but have looked
In vain. Can it be that all our people
are satisfied with that action? 1 can
hardly think so. l know the Synod OF
Virginia is reported as having " cordially
and unanimously approved" it. And
yet | am constrained to ask, Is it right
Certainly the proposed plan is, to us
in this part of the country, novel one,
and it seems to me it is wrong. 1 hest
tate to express an opinion adverse to that
of our Assembly and our Synod on this
or any other subject, but | think it pro-
per to say that there are at least few
who think this step in the wrong direc-
ton
AS I understand it, it is proposed to
prosecute the Church's work in the de-
partment of Publication upon borrowed
capital. How does that sound? have
always thought that churches ought to
keep out of debt. 1 do not propose, how
ever, to discuss now the question whether
the present Indebtedness in the purchase
of our Publishing house ought to have
been created. Be that as it may. The
debt exists, and must, of course, be paid
Cannot that Indebtedness of $31 900 be
paid in about ten years by setting apart
for that purpose $4,000 of the annual
collections for the cause of Publication,
ust as it is proposed to pay the $4,000?
Suppose it does somewhat abridge the
work. No man, no Church, no cause en-
barrassed with debt can expect to &C.
complish as much as if free from debt.
Ehe best thing to do is to get out of debt
and then enlarge your work and prose
cute it more vigorously. Might not this
$31 900 be paid as well by the annual
payment of $4,000 as by issuing the
Church'S bonds ? 1t is true the proposed
plan would save 5000 year in interest
upon the $3l 900 by converting it into
4 per cent loan; but will that piece of
economy justify the Church in establish
ing bad precedent of borrowing money
on the credit of the Church? This debt
is now secured by a mortgage on the pro-
perty in the purchase of which it was
created If our Christian people are not
willing to give of their means to pay it,
as they should do, had not the Publish
ing House better be sold, the Publication
cause freed from debt, and the whole en-
terprise started afresh untrammelled and
unembarrassed as it should be? But sup
pose the plan is all right so far as the
S3l 900 Indebtedness is concerned, upon
the principle that when you get in debt
get out the best way you can, that does
not Justify increasing it to $4,000 The
principal objection is to that extra SO 900.
L can see no reason or excuse for the
Church issuing bonds for any amount for
any other purpose than to pay an already
existing Indebtedness. Why go deeper
into debt? What do we want with the
$4,000? Do we borrow it because with
more money we can better utilise the in
vestment we have Grant it. And grant
that good business men act upon that
principle in their money making schemes
In their speculations. 1t must be re-
membered that the Church is not money
making institution. 1t simply has to do
the work that God gave it to do and that
work is not to be accomplished upon any
such policy. If the Publication cause is
to be carried on upon borrowed capital
is it not because Gods people fail to give
the means adequate to the demands OF
the work? If they so fail now, what rea-
son have we for saying they will be more
liberal in the future? And if they are
no more liberal in the future, how do we
expect to pay the borrowed money and
at the same time carry on the work {?
The Bible way of raising money for these
things is by the gifts Of the people cast
into the treasury of the Lord. It is the
Lords work. In doing it let us make
the most of the means we have and look
to Him to put it into the hearts of His
people to continue with increased lib
crafty their contributions to this cause, "
and let us enlarge the work with an in
crease Of contributions. Then may we
look for greater results. If it is right to
borrow money that an adequate capital
may be provided for this canse, it is also
right to borrow money for the education
Of ministers, for the SUPP ort of disabled
ministers, for the work Of II ONE and For
eign Missions, and for any other work
that demands the attention of the Church
One cause needs money as much as an
other Let this borrowing policy begin,
and where will it end2 1t is a bad pre-
cedent. Where can the warrant for it
be found in the Bible, either expressly or
by necessary implication? Let us get
out Of debt as speedily as possible and