The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-03-17
MILL TALKS ON
!. |. !. CONSERVATION
5 OF CAPITAL
Great Railroad King Points
/. Out Some cf the Dangers
/. of Extravaganza
Government EXPENDITURES Have
: :::sOUTRUN NATURAL DEVELOPMENTS

Tariff and Imitation Are Not Response.
:, bic for Much Of the Increased Cost
!: Of Living-Waste, Idleness and Ris.
): ing Wages Are Primary Causes.
st. Paul, March 1.-THE address of
James j. Hill, chairman of the board
of,directors of the Great Northern rail-
way on Conservation of Capital" was
the feature of the morning session of
the State Conservation congress to-
day. Howard Elliott, president~of the
Northern Pacific, presided. The gen.
eral subject of the session was the ag-
ricultural development in Minnesota.
The others speakers were Prof. E. v.
Robinson of the University Of Minne-
sofa, who spoke on the farm wealth
of Minnesota, and Prof. A. E. Cham
berlain, superintendent of farmers in
stitutes of South Dakota. whose sub
ject was Agriculture, Science and q
Competitive Business" President Hill
was greeted by large audience and
his remarks were given close attention.
Mr.. Hill said in part: "The i'm
mense increase of wealth all over the
world has greatly augmented the sup
ply of capital. The mobility Of this
capital, the ease by which through
international exchanges it can be
made to satisfy need now in one
country and now in another, strength
ems the impression that 1t is inexhaust-
ible. The addition of uncounted bill
lions to the aggregate wealth of the
world has stimulated the spirit OF
mankind. Its availability has lulled
to sleep natural prudence. and .quieted
the alarm Of moments Of sanity In
the spendthrift's life. The increase
of apparent resources by an easy re-
sort to borrowing. the. mortgaging OF
q patrimony not our own to obtain
material for present extravaganza,
the diversion Of wealth from produc-
tive to unproductive uses-all these
have gone further than most people
realize.
Danger In Bonds
"The people of the United States in
herited from it's founders a whole
some tradition against debt, which is
only now disappearing from the con-
duct of national affairs" Mr.. Hill
said the national debt now tends to
rise, concealed under the polite fic-
ton Of certificates of Indebtedness to
cover treasury deficits. "If." he con-
tinued, 1.-The advocates of large bond
issues for all manner of internal i'm
provements should carry their point,
To- l4eS AL V0-
stricted to the emergency of war, we
will be in the condition Of Europe,
where the motto of every chancellory
now seems to be, After us the de-
luge.'
"In our cities, modern extravaganza
finds its most untrammeled express
sion. The total debt of the states, in
cluding all minor civil divisions in
creased $13,921,4 ,443, or 1.25 per cent
between 1880 and 1890. Between
1890 and 1902 it increased $727.77S.-
793, or "a per cent. Nearly three
quarters of a billion in twelve years.
an average of $60.0OO.O0O a year in
the amount borrowed by the people,
ought to make any country stop and
think. Most of the actual material de-
velopment is privately financed, and
carries its own bonded Indebtedness,
which the public finances cannot take
into account. The figures down to
1910, outside Of and in addition to
the national debt, would probably
show an increase Of billion and a
quarter to billion and half dollars
for the last twenty years. and grand
total of over two and quarter bill
lion dollars, about double what it
was in 1890.
Debt figures, however, do not be-
gin to tell the story of our national
extravaganza. Only a small part of
our expenditure is represented by
debt tables. The rest is raised by in
creased taxation. l know of nothing
bearing more directly or forcibly up
on the subject of national waste and
the conservation of national resourc-
es than the profligacy disclosed by our
public ledgers.
Although the great business ex-
pansion of this country began right
after the civil war. the expenses for
1890 were but four million dollars
greater than those of twenty years
before Since 1890. these eXpenditur-
es have grown by $1SO.0O0.000 each
nine years on the average, or $780,
100000 year. until now they are
1914 per cent more than they were
eighteen years ago.. Expressed in
terms of per capita outgo. these
charges. which are only part of the
cost of maintaining the federal gov
ernment, rose from $4.75 in 1890 to
$6.39 in 1900 and to 1856 in 1905.
"It is always asserted. when the
truth is told and demand for econ-
omy is made, that the development
of the country and its increase OF