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Show IMU'IILKS NATIONAL DEUT. The unanimity with which thoso who would socialize tho railroads and tho telephones, and what not else, hit upon 3 per cent as tho probable cost of capital to tho government, la extraordinary. extra-ordinary. Possibly It Is necessary to rnnko It 3 per cent for tho sake of gottlng a profit at tho end. Mr. howls rdekons that tho telephones Would cost only $900,000,000. Ho would, a. little less than double the national debt. Clifford Thorne, to socialize tho railways, would IncreaEO It many Told, but alwoya at 3 per cent. Among tho great nations of tho world this ono is remarkable fcr borrowing so llttlo and spending so much out of current cur-rent income and its credit on that account is high, but Its Panama Canal 3a hnvo been selling thin year under par.. It has barely a 3 per cent credit unw. If it embarked In tho tolophono and railway business and began to Isuc bonds to roplaco private capital, It might not long onjcy a 3 per cont credit. New York Times Analyst. n |