Show PAYING THE DEBT no one thing i is responsible for depression no one hung cen effect a cure and bring about a return to normal overproduction and underproduction the law of supply and demand between capital and la a jar or muria gement and labor as some choose tn ill it arc are contributing tn buting factors we are acell tomed to lay jay the blame for anything and caer tiling on the ob obvious ious the less ob 4 the understood the more or it liss ss technical causes aro ig awed by a nation vincle as a rule is too busy ith tho thing that ie is immediately imme diatel in ill front of it to ao fundamental fundamentals what N e shall decide to do with our rint ional debt the nun am in ni u which aich vo r c 1 kiy ay iy it can and will phy pla a large part in deor the length of the pre aut industrial depression and tho the question su estion of whether it is to hang joyer our heads and affect busi sees until it shill have been re decd to the bize of the pre war altet odert pa ing i is s obviously one salbe major tasks hi bi fore the gov mern ment and therefore bt 1 fore 4 american people indeed ao juff administration of the debt is T tty iby jar tho tile greatest of our finan eul AW problems to the macans for the ordinary expenses at ilie government on oil a broad assist nad generous stale avoult be werle childs play but to provide r the payment of many ninny hun of millions of interest ear car jy and unit for the redemption of bil lous joau of bonds in the next feu a cars that is the problem that jj s what compels the imposition of taxation ta aton and a n d blends all public and private con econ c on amay to its imperi ow necessity two fundamental principles tom IP to be ob obeyed leaved both of them an cevious cb and so eisent essential ial as to no argument but merely nt is that the debt awat be paid in full to tho the last cent as the old note forma forms used ft ab my wit without kout defamation def or discount niUe Ais count it is true that the imm is needlessly extravagantly disho large A de degree of discretion before md during the war on the part ad the national administration woold probable hm have e sa faed ed us b bil il bloos 3 on of dol dollars lani at the sanit pame actu all ettere ext Lit ture juve efficiency hut but that la is nut not ow thi point the diba m ai a i t oil ind and it U must be paid and abatta all there I 1 about it thank plod e ha hae e no more serious er ioui swee o 0 than two or three u 1 y billions to pay for our foll aaa ud indifference the other principle is ri that debt must bo be so adjured as not ao impair the debt pacing aawar of tho the nation that is to jwj taxa taxation tiou must be so imposed A ryasa sn such amounts as not to de alws or to nc or to impair the prosperity of the tile people that is a principle commonly ro in private biti bai uness in dealing with n 11 bankrupt or with nith a mail so overwhelmed in dat as to bo be in dabir of insolvency ansol acney give gic him time rive him a chancel chance I 1 A the prudent rule and in III tl e 0 least emergency the design of the bankruptcy law is to afford him opportunity tunit if it be pos sible to recoup his losses ant and to relia himself of course caume the nation is 14 ih in no uch plight but the same judicious rule applies to it the less ite its business prosperity is interfered with by taxation the greater taxes will it be able to pay and the more rap idl dl will its debt be liquidated ilarde u is weekly |