The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-05-25
[By James ]. Hill in the Chicago Sun.

day ord-Herald.1
In this article purpose to dwell
briefly upon few conclusions have
voiced from time to time, based upon
mass of statistical data, none Of
which has ever been called in chal
lenge. Breyity OF space prevents
elaboration OF the detailed proofs. and
shall endeavor to touch some OF the
high lights only.
4 Our boosted twentieth century civil.
lization is running only lap or two
ahead OF hunger in mans race for
food.
So slight at all times is the margin
between the worlds production and
its consumption that its savings have
been acquired almost as slowly and
painfully as the miser's hoard. Prac-
4 tically only a few months lie between
a universal cessation of production
and the destruction of the human
race by starvation. The marvellous
diversity of modern industry and its
products blinds US to TIE bare sim
plicity Of the situation.
Less than years subsistence
stands between man and starvation.
/ That is the measure Of his accumu-
lations.
/ What is true Of our bread supply is
more than true OF most other neces-
saries that we consume and produce.
We could live for a few months only
OH our savings. Immense as seems
the total OF accumulated wealth, most
OF it is not available for consumption.
Even the income from it must be
| transformed into things to eat and
drink and wear, and tools to work
with; into capital for future produc-
ton, without which not only the ma
/ chinery of industry but the human
machine itself would presently cease
| to operate, and d ea6 world remain
the monument OF defeat in that eco
nomic battle which man has waged
with nature from the beginning.
| The principal asset Of the world,
aside from the land, is its plant-in
the form of buildings, machinery,
transportation agencies, apparatus OF
all kinds in which capital has been
| fixed to enable the work Of produc-
ton to go on in increased volume
and with added economy. To this.
every man who earns more than h.
spends, contributes.
Into this tremendous reservoir the
surplus efforts of the ages have pour
ed contributions from the hundreds Of,
i millions of men who by planning, di-
recting and working, add to the mar
gin OF profitable production all over
the world. Credit enables them to do
this. They acquire a participating in
terest in host of enterprises through
loans represented by shares of stock,
bonds, notes or other instruments OIL
credit.
This relation of operating efficisn
on the one side and credit supported
by capital on the other, in its extent,
artfulness and practical working sue
cess, Is the principal advantage OF
modern over ancient civilization.
No wonder that credit has been
called the most wonderful invention
and the greatest wealth-producer de-
vised by man.
In order that capital may be saved
and invested freely, credit system
must be highly developed Credit has
body and mind. The body asks
whether the borrower will be able to
pay according to promise. The mind
asks whether the borrower will be
willing to pay So long as credit
exists the only indispensable ques-
tons must always be, "Will he be
able to pay?" and will he be will
ing to pay?''
With these brief notes on the ma
ture of credit let us pass to the ques-
ton of transportation and its needs.
National transportation is many
sided subject. Every community and
every interest should understand that
the main need today of transportation
and of the many activities dependent
upon it Is an increase of terminal
facilities.
The transportation facilities of the
whole country are and have been un-
equal to present needs. They must
be made equal to the burdens they
bear or the country cannot prosper.
The internal growth OF the United
States, in population, in manufactures,
in agricultural production, is unpar-
alleled. Every item makes business
for the common carrier. How far
railroad construction has been unable
to keep pace with domestic commerce ,,
the country even now does not real
ize
1t is no exaggeratfon to say that
the commerce of the country, its
manufacturing and agricultural indus
try, it's prosperity as whole and the
welfare of every man in it who en-
cages in any gainful occupation, can
escape threatened disaster only by
such engagements of existing termin-
ais at our great central markets and
our principal points of export as will