The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-11-28
y. ]. HILL ON THE OUTLOOK
BE F0RSE'Es 4 TIVE or STAND
ING SrFEL.
we've Get to Pay Price Of ENtra,axnnee
b, Just tetting Along q Few Years
His Read. the Great Northern. far
Instance, WIN Not Extend On lplI.

Sr PArL. Nov. % That the United
States and the world. IN fact are about
tn harvest the fruit ~ extravaganza
J J. Hill is absolutely positive. II il too
late tn warn. the hour II ut hand. he
says
Standing complacently within the hall =
way of his residence On summit avenu"
this afternoon. the veteran builder Of raul
ways shifted cigar from fingers Ia lips
and between occasional puffs explained
the reasons for his prophecy. He WAS IN
a good humor and spoke freely.
He declared IL would bs futile to dis
criss the untoward things thar confront
the American people that tn. country
faces no panic and that matters would
finally adjust Themselves aft er experience
and much money have been contributed
to he sol,ii ION.
Mr. Hill declared that American people
were too complac-nt Rh-y spend too
freely and ar. greatly inclined TO tax. "a
rosy view Of things entirely unwarrant-d
by circumstances
-Extravaganc~ has been our greai
faus.- h. said We hay. been wasting
entirely too much in on-procuctive
n
gwen too much to AsoTnments We
have become obs.--..i with the city
beautiful IN municipal afaIrs. We have
followed hk. policies in tn. State and
national governments
-BatIl->hiT,-. not only in this country
but also abroad. are illustrations Of the
extravaganc- IN which the world has
be~n plunged for the lasi two decades
The money for the cun-t rIction of th,.-.
has been withdrawn from commercial
circles and almost ~ good as squandar.d
80 FAR a. any tangible returns can be
obserN ed
We hsv. gone 10 considerable. expense
To dig the Panama Canal presume
now We will have Ia fortify il la all
very we'll To make appropriations FOR
such purposes II : easy 10 cont ract
debts but the real difficulty arises when
". com. 10 get the money with which
to make tn. payments
In four wears. from 1872 TO 1903. our
Federal expenditures were 81 sOOJo.u0
For similar p.rlod. from 1904 10 lSTs.
W. spent about S5.BO. ss.Gp. Yet We
pay our taxes and harp upon the high
cost of living. and even III doing this wa
inger on the brilliant prospects which We
think the future holds in store for Us
III "a man buys a farm and cultivstss
Il h. cent ribiIt'-s To the mat erial wear h
OF society II he permits the land TO
liz idl. he has subj from the gen
eTal weAHn Nv NllnuTaWlng ms money III ON
commerce and investing IT in a non
protiiabl. enterprise The latter illus
iraflon serves best % Indicate our trend
IN all depart m-nts II OAR Government
bl-ClaininK any INTENT ion 81 posing
a. "A calamity prophet Mr.. Hill insisted.
however. thar II wasn't u guess bu, an
absolute certainty ~ Ia what awaits the
country Tomorrow or the next year.
when business activities become dor
mant. lie pointed out that at present
there IL very little projected. which means
a suspension Of activities
DO Won hear Of any generally sy~-
t"maIiC plans for lmproS sments during
the NEXT year." he ask I'd There ~
none. Factories and such other enter
pris-s which are productive in their ma
turr and which contribute 10 wealth
ar" not contemplated hy those who have
the money Ia invest.
This means that those who have
nothing to sell but their time will be
without employment There will have
to he shutting down Of the mines b~caur.
iron and coal aud other minerals that
will not be ia demand. The same mi ght
10 laid about the lumber business and
other forms Of activity A. "A result of
all thIs. there will b- many thousands
~ p-opl. without employment
In preparing oar Great Northern
orders for newt wear. W.. find hat w.. are
gong 10 need very few supplies. This -
lecaII-- "" are making no extensions
last year We ordered 20. 'sD tons Of rails
and had no surplus For the next year
We will need only about 50UsD tons
Il might repeat such illustrations IN
our business Last year "" had 10 have