The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1910-03-18
RAILROAD PRESIDENT
breaches CONSERVATION
Not Only Of Land, But Natlona|
Capital in Shape Of Cash
and Credit
(By Associaten tress.,

lBy ASSUCldtcQ ITeSaP
St. Paul, MINI. March lS.-Jas
j, Hill delivered an address at the
Minneso a Conservation convention,
in which he Il ged the conservation Of
capital, condemned extravaganza,
gave the causes Of the increase IN
prices, and told how the situa ion
described by him might be remedied
Greal interest was AIKEN IN the
speech of Mr.. Hill, who declared that
I'VE are living iii an age Of world
wide financial delirium;' that mex
after the conservation Of the land,
IF its area, use and fertility, must come
/ the conservation of national capital
/ in The shape of cash and credit.
Mr.. Hill said In part: "The i'm
mense increase OF wealth all over
/ the world has greatly augmented the
supply Of capital. The mobility Of
4 this capital, the ease by which
through international exchange II
can be made 10 satisfy a need now In
one country and now in ano her
! strengthens the impression that it Is
4 inexhaustible The addition OF un-
/ counted billions to the aggregate
wealth OF The world has stimulated
the spirit of mankind It's available
ity has lulled to sleep natural prd-
dence and quieted the alarm Of
moments of sanity In the spend
thrift's life The increase of appae-
ant resources by an easy resort TO
borrowing, the mortgaging Of a patri-
mony not our own TO. obtain material
for present extravaganza, the diver
sion of wealth from productive un-
productive uses-all these have gone
: further than mos people realize.
"The people OF the United States
| inherited from its founders a whole
some tradition against debt, which Is
only now disappearing from he
/, conduct OF national affairs. Mr..
liill said the national debt now tends
10 rise. concealed under the polite
fiction Of certificates of indebtedness
TO cover treasury dellcis If he
continued. "the advocates Of large
bond issues for all manner Of inter
nal improvements should ca ry their
port, If that resource is not definite
" restricted o the emergency Of war
We will be in the condition Of Europe,
where the motto OF every cilanccl-
lory now seems to be- After us the
deluge
I'm our cities, modern extravaganza
finds its most unlrammcled express
sion The total debt of the states,
including all minor civil divisions IN
creased $13,92l AS, o. - per cent
) / f.tt
1890 and 1902 II Increased s72777Ns
S99, or 81 per cent. Nearly three
quar- ers of a billion in twelve years
an average OF S60000 000 year IN
The amoun, borrowed by the people
ought to make any country SOP ant
think. Most Of the actual materia
development is privately financed
and carries las own bonded indebted
ness. which the public finances can
not 'ake into account The figure
T. down TO 1910. outside Of and in addi
= ton TO the national debt, would p oh
! ably show an increase Of billion anl
quarter TO a billion and half dol
= lars for The last twenty years. an'
a grand total of over two and a quar-
i ter billion dollars; about double wha
= IL was in 1896.
Debt figures, however. do not bt
gin TO tell the story Of our naioua
9 ey,ravagance Only small part q
e our expenditure is represented b
debt tables The rest is raised b
., increased taxation. | know OF aoil
p ing bearing more directly or forclbl
upon The subject of national vast
and the conservation Of national r'
sources than the prohigaey disclosed
by our public expense ledgers.
although the great business e.
Dansion OF this country began rigf
aites The Civil war, the expenses fo
1899 we're but -four million dollar
greater than those of twenty year
before. Since 1890, these expend
lures have grown by $1S0,000,00
each nine years on the average Q
$50 100000 a year, until now they ar
12f.4 per cent more han they wer
eighteen years ago. Expressed !
tc ms OF per capita outgo, thes
charges, which are only part of th
cost OF maintaining the Federal go'
l.ernmen. rose from 81 10 in 1890 {
iSS<s9 I'm 1900 and % 81 Sc in 1898
|WWI Is always asserted. when In
j frath Is told and a demand for ecol
omy is made, that he deYelopmer
of the country. and iis increase {
wealth have been so great as both
require ard Justify enlarged outlay
The answer TO the charge OF a billio
dollar session OF cong ess Is tia
this has become a billion dnlla
country. The apology is neither rel
want nor true. II is not necessar
,hat expense should increase in ih
same rallo as el0wlh. Eat n
growth OF expenditure has 50 far on
lgun The growth Of the country ths
the actual figures are almost inc q
ible The following little table, e.
hibfing the whole situation. tnigl