The Wenatchee daily world. [volume] (Wenatchee, Wash.) 1905-1971, 1908-12-30
AGAINST PRO-
POSED BOND ISSUE
j. j. HILL SAYS THAT 1T is RECK-
LESS POLICY TO BOND Gov
ERNMENT FOR RIVERS AND
HARBORS.


Friends in Washington of compre-
hensive policy for river and harbor
Improvements, and there are many
such in the halls of legislation, have
become somewhat skeptical over the
position taken by James j. Hill,
who, in an interview, was severe in
his denunciation of the bond issue
of $5O0,000,O00 enthusiastically en-
dorsed by the recent convention of
the National Rivers and Harbors
Congress.
Mr.. Hill. speaking of the recon-
mended bond issue, said: ut is a
reckless, foolish. and l may almost
say. criminal policy. When we ar
rive at the subject of appropriations,
at the question of how and to what
extent money shall be provided for
the vast undertaking, we have touch
ed the vital nerve center OF any large
enterprise and the danger point.
Some Of the more enthusiastic advo-
Gates of waterways have made the
mistake of urging that the national
credit be pledged to unheard of
amounts in order that we may COM
plete the whole work, at once. The
men who would borrow and spend
lavishly may mean we'll but the
signboard where their road DIVORCES
is marked plainly disaster
Against the opposition of Mr.. Hill
who sees in the bond issue ''reck
less and foolish policy stands the
strongest kind of endorsement of a
bond issue by President Roosevelt,
Vice President Fairbanks, President
Elect Taft, Andrew Carnegie, Champ
Clark, and a host of representative
men both in and out of congress.
President Roosevelt, in his notable
address before the second convention
of the Conservation Congress, said:
Our natural resources are so related
that the use of one affects the use
of all the others. This is especially
true of our waterways. We have ne
elected our waterways more than any
other natural resource and we must
put an end to that neglect. First, let
us prepare a comprehensive plan for
inland waterway development. Such
a plan must consider every use of the
waters, it must put the interests of
all the people in advance of any pri-
vate interests whatsoever. Second,
let us proceed Immediately with the
construction of the waterways for
which plans already have been ap-
proved and which we are now GER
tain will fit into the outlines of the
general plan Our previous policy of
procrastination, delay and fitful and
partial action has borne it's perfect
fruit. Our waterways are deserted
and in return for our vast expendi-
lures we have little or no actual
navigation to show. The people are
ready for change.
Let us have it and at once. If
we Gam pay the cost from current
revenues let us do So If not, let
us issue bonds. By either method let
us have the waterways and that
quickly. The plan and the work can
ond cbo,,Jd nrooood tOootbor While
the work we are sure of is being be-
gun, the plan for the rest can be
prepared
Judge Taft, from the same plat
form, accentuated the high ground
taken by President Roosevelt in ap-
proving a bond issue if current rev.
enues are not sufficient to justify
continued improvements of the ma
TONS waterways.
II have no computations on the
subject of issuing bonds if the debt
to be contracted ought to be met
by bonds" said the next president
of the United States. 81 think that
men sometimes overio the business
of meeting what ought to be distrib-
uted expenses out of current income.
think there is good reason for issu-
ing bonds for these improvements
that are to be permanent and not to
spend current income for them.
Sometimes it takes as much courage
and involves as much real public
interest to issue bonds for purpose
for which bonds ought to be used as
it is to pay as we go. In other
words, it is a mere question of eco
nomic policy, and the mere fear Of
criticism, because an administration
has issued bonds, should not prevent
us from doing justice to ourselves
and posterity."
Il Vice President Fairbanks, in his
lwoloomiuO od1rocC hoFo.o tho No