Show have hate ba 0 exceeded stale and local leases But Dut theres there's there a very serious lion In the th fact act that stab and lo- lo lo-L lo tai Lal I taxes la continue mounting stead JI ii In the great and well campaign for tor or economy In la national government taxpayers ers have hav not been sufficiently vigilant ia m watch atch tog tho rho tax spenders closer at ath h home mc So wo we have hiT the tb farcical of tax burden being piled plied on our backs back a from one side aide about as s fast ItS as it Is removed from tho other In la 1912 1112 tho ho combined debts debt of all American states stales and munIcipalities totaled less than four our billion dol dol- dollars dol tare lars Today the figure is 1 not cot far 11 billions billion Roughly It Is half as big bit as a tho the national debt which Is li so stupendous that It 1 Id beyond the ImagInation oC or all except professional lonal mathematician clans dan cian Final corrected figures apparent Iv will show how that mote mor stale slate and local government long lou term erm bonds bond I were cre issued In la 1924 1124 than in any year of the pat past pa t Increased debt means increased Interest to pay and pay and the only nay ay to 10 get ft It is la by higher taxes We W must have li v such uch improve improve- improvements menu ments as are ar necessary But Dut it Is h 1 perilous to mortgage the future moro more and more The da day day- of reek reck reck cannot be Indefinitely put off oct And wo we will wilt lose loso all the tho ad advant vant ot of national government economy unless caution and thrift hi Iff arc are exercised In state and local expenditures |