Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-17

ST. PAUL, March Thames J. Hill de-
livered an address at the Minnesota con-
servation convention today, in which he
urged the conservation of capital, con-
demned extravaganza, gave the causes
of the increase In prices and told how
the situation described by him might be
remedied.
Great interest was taken in the speech
Of MIR. Hill. who declared that I'VE are
living in an age of worldly wide financial
delirium9; that next after the conserva-
ton of the land, it's area, use and fertil-
ity must come the conservation of ma
tionaI capital in the shape of cash and
credit
Mr.. Hill said, in part The immense
increase of wealth all over the world has
greatly augmented the supply of capital.
The mobility of this capital, the ease by
which through international exchanges it
can be made to satisfy a need now In one
country and now in another strengthens
the impression that it is inexhaustible.
The addition of uncounted billions to the
aggregate wealth of the world has stinl-
ulated the spirit of mankind. It's ayaila-
bility has lulled to sleep natural prudence
and quieted the alarm of moments OF
sanity in the spendthrift's life. The in
crease of apparent resources by an easy
resort to borrowing, the mortgaging Of a
patrimony not our own to obtain material
for, present extravaganza, the diversion
Of wealth from productive to unproduc-
tive uses, all these have gone further
than most people realize.
A Wholesome Tradition. I,
The people of the United States inher-t
tied from its founders a wholesome tradi-,
ton against debt, which is only. now dis
appearing from the conduct OF anat tional !.
affairs Mr.. Hill said the national debt
now tends to rise, concealed under the
polite fiction of certificates of indebted
ness to cover Treasury deficits. IF. he
continued, the advocates of large bond
issues for all manner of internal inn
provements should carry their point, IL
that resource is not definitely restricted
to the emergency of var, We will be IN
the condition of Europe. where,the motto
of every chancellery now seems to be
after us the deluxe.
.In our cities modern extravaganza finds
it's most untrammeled expression. The.
total debt of the states, including all md
nor civil divisions, increased *$13 3.921 .44:s,
or 1.25 per cent, between 1880 and 1890
Between 1890 and 1902 1T increased $123,-
713 s93, or 64 per cent. Nearly three
quarters of a billion in twelve years. an
average of S6O090.O00 a year in the
amount borrowed by the people. ought to
make any country stop ana think. Most
of the actual material development is
privately financed and carries it's own
bonded Indebtedness. which the public
finances cannot take into account The
figures down to 1910 outside Of and in
addition to the national debt, would prob
ably show an increase of a billion and
quarter to a billion and a half dollars
for the last twenty years, and a grand
total Of over two and quarter billion
dollars-about double what IL was in 1890.
Debt figures. however, do not begin
to tell the story of our national extraya-
gance. Only a small part of our expendf-
ture is represented by debt tables. The
rest is raised by increased taxation.
know of nothing bearing more directly or
waste and the conservation Of national re-
sources than the profligacy disclosed By
our public expense ledgers.
Increasing by Jumps.
Although the great business expansion
of this country began right after the
civil war. the expenses for 1890 were but
81 OOO, 600 greater than those Of twenty
years before. Since 1890 these expendi-
lures have grown by $1sOOoO,0O0 each
nine years on the average. or $4,000. 600
wear. until now they are 1914 per cent
more than they were eighteen years ago.
Expressed in terms of per capita outgo.
these charges, which are only part of the
cost Of maintaining the federal govern
meut rose from S4.75 in 1890 to $3.50 In
1900 and to 7.56 i'm 1908.
1T is always asserted, when the truth
is told and demand for economy is
made, that the development Of the coun-
try and it's increase of wealth have been
so great as both to require and justify
enlarged outlay. The answer to the
charge of a biliion-dollar session of Con-
gress is that this has become bill
Iion-dollar country. The apology is nef.
ther relevant nor true. 1t is not neees-l
sary that expense should increase In the
same ratio as growth. But the growth or
has so far Outrun the growth
of the country that the actual figures are
almost incredible.
The following little table, exhibiting
the whole situation, might be printed at
the top OF every letterhead used by any