Arizona republican., 1908-11-11

 than the sum advanced to these companies, with interest compounded annually?
 These questions are asked and answered to stimulate pride in the administration of our government as marvelously successful trader; to express my qualification in the pay ment of the debt, which l believe will be equally gratifying to you, and to record my wondering admiration of the preciseness of our forefathers, going back to the senatorial days of Thomas H. Benton.
 'I believe that the opportunity for industrial development through these very means of transportation-the interchange by an increasingly great population, of the products of the brain and brawn of the greatest peO- pie the earth has ever known-in the next two generations will be as num- berless and as fruitful as they have been from Benton's days until now Shall we not cultivate the spirit, the energy. the self restraint essential to successful pursuit of that prospect?
 Perhaps you will pardon a pre- ulOllOll dil ltlllpltu lO llidl the governments investment in the Panama canal, after forty years of operation, will not show in whole nor in any particular, even as an engine of defense in time of war. any such profit although l hope it shall fair That enterprise is no longer debat- able. It is under way with promise of success and I shall join you in saying, God speed it
 T have little knowledge of the discussions by previous sessions of this congress, or of their subjects I apprehend that their range was wide. My attention was called to what seemed to be the dominant note of the congress of 1907, at Mus kogee, Okla. that is. the improve ment of the inland waterways and harbors. Some who spoke on that question in fervent advocacy of the improvement, founded their conten- tiOn upon the great influence such improvement would exercise in regu- lating rates for freight and passen- ger traffic charged by the railroads. One speaker said that it would be greater than the influence many in terstate commerce commissions could ever hope to exercise. Another de- clared that what Is needed is to furnish natural and inevitable com petition of railroads. Another speak CT is quoted as saying the railroads will take care of themselves, but the rivers. harbors and waterways of the country need the protection of the government
 T welcome this opportunity to say that my people do not object to the improvement of the rivers. the har- bors and the waterways of this coun- try. That work belongs to the gen eral government and should be done at whatever cost wherever there is a substantial need.
 T beg your further indulgence to make this statement also. that. so far as I know-and I ought to know neither MT. Hartman nor his asso- ciates have antagonized the building of the Panama canal. Personally. wish it had waited on the rehabili tation of our moribund merchant marine, which I believe ought to be the next great endeavor of our peo- pie; but the Panama canal was in evitable for many reasons. It has become a national enterprise and no one would regret more than I and my associates would regret the fail ure of the project.
 While I share the desire of many far seeing and public spirited Ameri- can citizens to see Columbia Mis-