The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1910-03-24
HILL URGES
ECONOMY
Railroad Builder Condemns
Extravaganza and Sug-
gests Remedy.


week contains lot of interesting
comment in regard to the present
high cost Of living" and attending
conditions throughout the land. Mr..
Hill said in part:
The immense increase In wealth
all over the world has greatly aug
mented the supply of capital. The
mobility of this capital, the cas- by
which, through international ex-
change, 1t can be made to satisfy a
need now in one country and now in
another, strengthens the impression
that 1t is inexhaustible.
The increase of apparent resourc-
es by an easy resort to borrowing,
the mortgaging of patrimony not
our own to obtain material for pres
ent extravagances, the diversion of
wealth from productive to unproduc-
tive uses-all these have gone far
ther than most people realize.
I'm our cities. modern extravaganza
finds its most untrammeled express
sion. The total debt of the states,
including all minor civil divisions,
increase $13,931, 443. of 1.25 per cent
between 1880 and 1889.
Between 1890 and 1902 1t increas-
ed $727. 778,393, or "a per cent.
Debt figures, however, do not be-
gin to tell the story of our national
extravaganza. Only small part of
our expenditure is represented by
debt tables. The rest is raised by
increased taxation. l know of no.
thing bearing more directly or fore
IDLY upon the subject of national
waste and the conservation of ma
tional resources than the profligacy
disclosed by our public expenditures.
1T Is always asserted, when the
truth is told, and a demand for econ
omy is made, that the development
of the country and its increase of
wealth has been 80 great as to re-
quire and justify increased outlay.
The apology is neither relevant nor
true. 1t Is not necessary that ex-
pense should increase in the same
ratio as growth. But the growth of
expenditure has so far outrun the
growth of the country that the act
ual figures are almost incredible.
''The phenomenal increase of pub
lie expenditures has already produced
a plentiful crop of public ills. II is
one of the causes of the increase
in prices now disturbing the people.
This increase follows in suggestive
way the initiation of national and
local budgets. The average cost of
the supplies that must be bought for
practically every household has in
creased about so per cent between
1896 and 1900.
During the past year there has
been a marked lifting of the price
level. Foodstuffs cost from 10 to
20 per cent more than 10 years ago.
"Still more of the rise of prices is
due to the decline Of agricultural pro-
ducts as compared with the increase
of population. Decrease In the mum
Der of cattle and swine is also given
as reason.
Perhaps the greatest factor of all
in the price problem is the wage
rates. Everybody knows that labor
cost is the principal item In all forms
of industry. The wage rate has been
rising steadily in this country. To
-oesck L. aiRfin,,1+ o-d may he
dangerous.
"The effect of national waste of
capital is felt Immediately in the
added weight of taxation. The tax
es collected annually from the rail
roads of the country have increased
more than 200 per cent since 1899.
They increased by $4,000 900 and by
more than 500 per mile of track
between 1900 and 1908.
"The modern theory that you can
safely tax the wealthy is just as OBJ
noxious as the medieval theory that
you can safely Cypress or kill the
poor It is obnoxious not because
wealth deserves special consideration,
not because capital is the handspring
of all industry and material develop
ment.
Credit should be conserved by
sharp scrutiny of new bond issues.
The nation should reserve them for
the crisis of war. No state need
ever borrow again If it is wisely and
honestly governed.