| Show BORROWING AND PAYING BACK it is stated by a writer ina in a leading eastern journal and his assertion probably Js ia true that the american people are the greatest borrowers borr owera on earth course is IB in reference to money for whether deserved or not A al w would not like to confess that they have a greater proneness then than other people to the pesky habit of over borrowing from neighbors of articles used in life the great creaso for americans being such borrower money dodey from europe if that they have a big undeveloped country the possibilities to be wrought out in this cont continent mont by the outlay of capital Is IB are erent that bat people familiar with Ameri oad d resources become imbued with the ibe speculative idea and consequently the capital capita ece fleary to 60 carry out schemes Is eagerly bengt aly for hence vie the people of the united states now owe sixteen bundred dred millions mi ilione of dollari abroad and the be fact that they have been able to keep on borrowing to this vast amount from foreigners fore igneri Is conclusive proof that the loans have been in the main upon successful investments at the flame time it to ia a most dunale thing thine for any people whether of a small email community or of a nation to become extreme borrowers so soon as a they reach that stage they ceabe cea e to be freemen freem cB having placed themselves th melvee in bondage to the money lender leader when borrowed money is earning more than the rate of merest interest paid and the investment la Is preserved intact 06 that it in ia sufficient at all tindes to liquidate the principal then the abe line of legitimate business borrowing may be deemed as aa not transcended for the development of any resource reao the difficulty with the unite I 1 stat statue 9 is ie that it haa bas the line hence much of the he nati national osal financial distress dia treM locally the be pat past few beare have laid latti bare many examples 0 the be ex borrowing craze and numbers ot of well intentioned schemes have gone to the wall leaving their promoters in ore straits braito to meet money obligation now that bat there are brighter prospect abo ahead adfor for this locality in the develop ment of home resources it way may be that bat the lesson taught will prove valuable I 1 in producing a larger degree of than formerly prevailed great as aa to la the advantage of being able to borrow plenty of money it la 16 overcome whop a people take more pride in loans loana than in repaying them hem the time seems beema to have been reached when americans americana having achieved the highest distinction so a borrowers borr owera of foreign gold should make a now new departure and become notable for repaying their loan and getting along on their OW own D capital the pie of operation cooperation co affords an avenue by which bit point may be reached |
