Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1909-10-29
LETTERS TO THE EDITOR
Debts and Debts.

Mr.. Editor: Your editorial in The
Bulletin, October %, "Indifferentism, -
was a thought producer. Why is the
average business man and wage earn
er so Indifferent as to the laws under
which they live? The reply to this
question by "a leading citizen: "Be-
cause everybody is devoted to getting
the dollarI" is not the only reason.
Is not ignorance more the cause of this
ism" than the devotion to getting
the dollar?
Is it not the ignorance of the reason
why people are driven to devote so
much time to obtain the dollar? The
dollar Cor money! is a primal factor
of civilization. and an absolute ne
cessity. A few days ago I was look
ing over a government document of
1898, entitled Report of Real Estate
Mortgages in the United States" for
1890. Say, Mr.. Editor, would not
man be liable to be somewhat cured
of mediterranean if he was doing
a business in which his Indebtedness
was increasing three times as fast
as his ability to pay? If he knew
nothing of how this was being done
would it not be ignorance of his bus
mess? Then is not the cause of this
indifferentism to public duties ignor-
ance of present conditions, as they
exist under present laws, rather than
the desire to get the dollar for what
the dollar will bring? How many of
your readers know that on January
l, 1890, there was a total debt in the
United States of $40 27,170, $40?
OF this debt there was a real es-
tate mortgage debt alone Of S6,019,
679,985, leaving a balance Of all other
debts S13007, 490.561. How many of
them know that on January l, 1880,
the real estate mortgage debt was on
ly $2,294,870,0SS, an increase of $3,524,
S09.897, an increase of 141.2S per cent.
in ten years, from 1880 to 1890? That
is to say, the debt mortgage debit of
1880 doubled once and nearly half
doubled again in ten years. How
many know that the total amount of
wealth on January /, 1890, in the Unit
ed States was $50, I31, 497,791? Accord
ing to this report from 1880 to 1890
the wealth (totaD increased only 1924
per cent. or a little less than half,
while the population increased only
24.S6 per cent, or less than one quar-
ter. Then. as a base from which to
compute up to date, we have the fol-
lowing during those ten years. The
real estate mortgage debt alone in
creased nearly three times as fast as
the wealth with which to pay, and
nearly six times as fast as the popu-
lation that produced the wealth to pay
no cognizance of over 10 billion dol
lars of other forms of debt. Mr.. Edi-
tor, place any business man or bust
ness corporation under such condi-
tions, doing business, would he not be
justified in devoting a good share of
his time, even to laying awake nights
planning some way to get the dollars
to save him from bankruptcy? Well,
If this be true, and no one can re-
flute it, is not every man justified in
getting the dollar" to meet this in
creasing debt and interest for interest
must go with this debt, and increase,
as the debt increases?
Then again l ask, Is 1t not ignor-
ance of this condition more the
cause Of the Indifferentism A man
in this condition would not be indif-
ferent unless he was ignorant Of his
condition. Let us follow up this ratio
of increase from 1890 to 1900, an