of maintaining the federal government was $2.14 

 in 1800, $4.75 in 1890, $6.39 in 1900 and $7.56 in 

 1908. The total appropriations voted by congress 

 for the four years from 1892 to 1896 were $1,871,- 

 509,578. For the four years from 1904 to 1908 they 

 were $3,842,203,577. An increase of $2,000,000,000 

 in expense for two four year periods with only eight 

 years between them should give any people pause. 

 Spendthrift man and spendthrift nation must face 

 at last the same law and the same penalty. If any 

 one believes that this growth of expenditure is a 

 consequence of the general material growth of the 

 country, let him study the following brief table of 

 comparative statistics. It establishes the indict- 

 ment of national extravagance: 



Increases. 



Wealth 1870 to 1890 116:5% 1890 to 1904 65.07o 



Foreign Trade 1870 to 1890 99.0% 1890 to 1908 85.4% 



Value Manufactured Prod.. . .1870 to 1890 121.0% 1890 to 1905 58.0% 

 Net Ordinary Exp. U. S. Govt. 1870 to 1890 1.4% 1890 to 1908 121.4% 

 Expenditures 30 States 1890 to 1909 201.6% 



This debauch of capital and credit has sent a 

 poison circulating through the veins of the nation. 

 Everywhere the individual imitates the profligacy 

 of his government. Industry and saving are at a 

 discount. Any luxury, any extravagance is w^ar- 

 ranted if funds for it can be raised by wasting capi- 

 tal or creating debt. There is just so much less 

 money for productive employment ; for payrolls and 

 the extension of commerce and industries and the 

 creation of those new faciHties for want of which 

 the commerce of the country is and always must 

 be limited. Hence come also high prices, curtail- 

 ment of business, distrust and eventual distress. 

 Hence come waste and idleness and the increased 

 cost of production that makes both business and 

 employment slow^ and insecure. Any conservation 



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