The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-03-17
We ARE IN ACE OF
MONEY DEl|R|UM
JAMES ,. hill.
Empire Builder of Northwest, Speak
ing at Conservation Meeting, Urges
Moderation in Expenses.
JAMES }. hill.

ST. PAUL. Mimi, March IT,
James j. Hill delivered an address In
the conservation meeting here today.
Referring To the conservation oil na-
tional capital which he places next
In importance 10 the conservation of
land he said:
Il would suggest that the friends
OF conservation take steps everywhere
to give 10 this Indispensable posses
sion the same protection from the
spoiler that We are trying to give 10
the soil. the forest. the water power
and deposits OF mineral wealth.
I'VE are living in an age OF world
wide financial delirium. Most OF the
nations have thrown away modera-
ton in the spending OF money.
THE people OF the United States In
herited from its founders wholesome
tradition against debt. which Is only
now disappearing from the conduct
OF national AFFAIRS. This. together
with the enormous resources at our
command and the consequent ability
OF our people To pay increasing taxes
debt at moderate figure Until the
time OF the Spanish war and the Pam
anna canal IL decreased II now
tends TO rise. concealed under the po
lite fiction of certificates OF indebted
ness to cover treasury deficits. II
the advocates of large bond issues for
all manner OF internal improvements
should carry their point. IL thar
source is not definitely restricted To
the emergency of war. We viii be IN
the condition OF Europe, where the
motto of every chancellor now seems
TO be After us the deluge.
After quoting statistics showing the
national debts of the countries oil
Europe. which show the annual inter
est charge to be now over Sl.2OO.OOo,'
900. Hill said:
1.-THE new budget threatens TO shake
the political foundations OF England
with It's revolutionary proposals for
raising more money where borrowing
had become impossible without utter
turmoil and another drop in the price
of Consols. - Now how about our
selves?
Leaving out the debts OF counties.
municipalities and school districts.
the aggregate debt of all the states
and territories, less sinking fund as
sets. was S274,745.772 in 1880: In 1890
II was $2Il.2l0.4S7; and in 1902 "
was 1894. 07.S73. The decrease Tor
the first decade was 23l per cent ana
the increase for the twelve-year per
iod 10 1902 was ll.2 per cent The
figures down to 1910, outside OF ana
in addition TO the national debt. would
probably show an increase OF Dillon
and a quarter to a billion and halt
dollars for the last twenty years ana
n grand total OF over two and quar-
ter billion dollars-about double what
Il was In 1890.
..The phenomenal increase OF pub
lie expenditure has already producer
n plentiful crop OF public Ills II Is
one OF the causes of the increase In
nrices now disturbing the people
He ascribed the tariff as one oil inc
contributing causes OF existing con-
dtions. and cont 'nued;
Combinations which are actually III
restraint OF trade. which have mohcp'
1l!zed their field an1 are either con
trolled by q common secret manage
ment or secret agreement to main
tain exorbitant charges are partly /"
sponsible. IL the operations or THESE
nae. been followed with the same IN
lerest by the public and checked VITA
tn. same rigor l'y state and natioh
that are now displayed by agitation
AGAINST railroads the coun'
trv would not be so supplied as II is
today by "A great partnership or so be-
ViIdered about the remedy.