Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1910-04-30
ADDRESS
Gives the Causes for the Advance Cost
of Living-An Age of Financial
Delirium.

addressing the CONSERVATION CON
gress at the Auditorium recently
James ]. Hill said, in part:
"Four years ago, on the Minneso
ia State fair grounds, / called at
tention to waste of our national
resources and to the choice between
facing about and inviting national
disaster. l stated our position in
these words:
1.-THE highest conception of ma
ton is that of trustee for poster.
ity. The savage is content with
wrestling from nature the simple
necessaries of life. But the modern
idea of duty is conservation of the
old and modelling of the new, to
the end that posterity may have a
fairer dwelling place and thus
transmit the onward impulse"
1--WE are living in an age of world
wide financial delirium. Most ma
tons have thrown away modera-
ton in the spending of money.
eff credit has, as Daniel Webster
said. done more than all the mines
Of the world to develop and in
crease its industry, the potential
dangers of credit are equally great.
Expansion or contraction of cash is
measured by millions, and of cred
its by billions.
"The annual interest charge OF
Europe is now over 1920, 100000
year. She is iii the position of a
debtor who must constantly add to
the principal of his obligations in
order to get money to keep him
from defaulting{on the interest.
ut is always asserted, when the
truth is told, and demand for
economy is made, that the develop
ment of the country and its in
crease Of wealth have been so great
as both to require and justify en-
larged outlay. The answer to the
charge of hillion-dollar session of
congress is that this has become
. billion dollar country. The apo
logy is neither relevant not neces-
sary that expense should increase
in the same ratio as growth. But
the growth of expenditure has so
for outrun the growth of the coun-
try that the actual figures are al
most incredible. The following
little table, exhibiting the whole
situation, might be printed at the
top OF every letter.head used by
any man in public Office anywhere
in the United States.
INCREASES
Wealth, 1870 to 1890, 116 per
cent, 1890 to 1904. 65 per cent.
Foreign trade, 1870 to 1890, SO
per cent; 1890 to 1908, 1914 per
cent.
Value Manufactured products,
1870 to 1890, 121 per cent; 1890 to
1905, 81 per cent.
Net, ordinary expenses United
States government, 1870 to 1890,
IA per cent; 1890 to 1908, 1z1.4
per cent.
Expenditures, thirty states, 1890
to 1909, 201.6 per cent.
Mr.. Hill attributed higher ex-
pense Of living over the world to
increased taxation, currency inha-
ton. the tariff combinations in re-
straint of trade, the decline in
agricultural products. He said:
1.-THE phenomenal increase OF
public expenditure has already
produced a plentiful crop of public
ills. 1t is one of the causes of the
increase in prices now disturbing
the people. This increase follows
in q suggestive way the initiation
OF national and local budgets. The
average cost of the supplies tha'
must be bought for practically
evcry household has increased
about so per cent between 1896 ant
1900. During the past year ther,
has been a marked lifting of tn,
price level. Foodstuffs cost from