The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-02-11
THE DEEPER WE SINK
In Debt, the More GLORIOUS" 1t
Is, 1t Seems,
But the People Are Sharpening
an AK!

When an individual spends more than
his income and has to borrow money to
carry on his business there comes a
time when he can borrow no more and
when his creditors demand an account
ing and their money.
Then there is crash and a notice is
pasted on his closed business house with
the announcement that an assignment
has been made. In the case of large
firms or corporations the courts kindly
step in and appoint receiver to dispose
of the property and pay the creditors as
far as the proceeds will go.
This is occurring every day, and moth
ing is thought of it but there is an oc-
casional expression of sympathy for the
unfortunate or unwise. or careless, or ex-
travagant individual aud his creditors.
But did you ever stop to thing that this
magnificent government in its present
hands. is now in much the same posi-
ton as the unfortunate business man.
Who will be the first to ask the courts
for a receiverP
The government is spending more than
its income, and has just completed one of
a series of loans, which have almost doub-
led the national interest bearing debt. The
government has borrowed money until
even the more conservative have stopped
to ask. How long can this thing con-
tinue.'"
We even see the queer spectacle of
people congratulating each other that
''the popular loan has been successful"
Chauncey Depew says it is GLORIOUS :"
What can be glorious about borrowing
money to pay ones living expenses, no
matter whom it is borrowed from? 1t is
Hnf Cd a go ~ Let
ernment. The hundred millions has to
be paid back, and what shall we have to
pay it with? Indeed, what have we got
to show for that hundred millions that
the borrowing of was such GLORIOUS
success?" In a few months it will dis
appear like five dollar bills in the fin
gers of Coal Oil Johnny who used them
to light cigars with.
We have bought nothing with that
hundred millions except a momentary
''credi" perhaps. The money is gone
and we have no buildings, no public
works, no canals. no railroads, absolutely
nothing to show for it.
Yet 1t was glorious success" A
glorious piece of tomfooIery and Chaun-
cey DePew is glorious tomfool to call
it glorious"
If 1t were business corporation that
had transacted such a deal the verdict
would at once be that receiver must be
appointed TO attend to business which
the managers seem unable to condnct in
q sane manner.
With the government however. no one
thinks of such a measure thonOh the
people who are the government are being
plunged more heavily into debt all the
time.
The treasury statement for Januarv
was discouraging enough for the patriot.
who must feel profound sorrow at the
distress of the government and there is
no reason to hope for a better showing
Ior the present month. The aggregate
receipts at the treasury department
were $29, ,237, $40. The expenditures for
the month were $50, ,696,s30. This makes
the deficit for the month of January, So.
4oS, loO, or to be plain, the government
managers spent over $3,OOO,O0O more
than the income for January.
For the past seven months of the fiscal
year the government has spent Sic, S,S53.-
s67 more than its income. That viii be
made up, however, for the government
has just borrowed the $1OO,0OO.OOO and
everything will be bright After while
there will be demand for another loan