The Birmingham age-herald., 1908-12-11
Speaker Throws Gold Water on the Plans for Great
 Bond Issue
GLOOM IN THE MEETING
 AT THE ANNOUNCEMENT
Vice President Fairbanks, Andrew Carnegie and Others Favor Bond Issue But cannon's Disfavor
 Will Cool the Enthusiasm

Washington. December 10.-Speaker Cannon today made known his unalter- able opposition. to the proposition of financing national waterways improve nients by tho issuance of government bonds, in characteristic address to the delegates of the Rivers and Harbors con- gress.
 His position in regard to the bond issue scheme was made clear when he declared that If percIance it was possible-and co not believe it possible-that the rivers ard harbors committee should report a bill to Congress providing that there should be an issue for the next 10 years to meet the proposed improvement bonds in the amount of $1,oOO,o0o,OOO, l would Tot vote for it."
 The announcement of Speaker Cannon cast a gloom over the congress, as the advocates of the bond issue had strong hopes of favorable consideration of their proposition at the hands of the federal Congress Mir Cannons attitude is at variance with that held by Vice President Fairbanks, Andrew Carnegie and others, ss expressed before the rivers and har- borS congress yesterday.
 Must Be Safe and Sane.
 Now, mol ody wants the federal Con- gress in the next 60 days to commit itself to an annual expenditure of $5O,OoO0OO for waterways and to issue bonds" said MT. cannon. If it is necessary-and great works are necessary in peace and war to issue bonds, I stand ready to issue bonds But expenditures must be safe and sane. I do not want this work or any other work to be done except it be done safely and salely."
 The address of MT. Cannon was easily the feature of the days proceedings. In picturesque language, driving home a point here and there with some apropos story, "Uncle Joe" delivered what might be termed heart to heart talk"
 Declaring at the outset that he wanted to be frank with the delegates the speak CT pointed cut that if the delegates should te disappointed in the action of the fed eraI Congress. you at least, he said twill not have to say that one represen- tative in the House lied to you"
 In explanation of his opposition to the bond issue scheme he said it was be- cause such legislation would beget that Kind of a combination that would put great quantities of il-advised projects upon the country and that there would be d serious accounting therefor later on.
 "TaIk is Cheap"
 Speaker Canr on said he agreed with the Rivers and Harbors congress that the waterways of the country must be im- proved, but he advised against what he termed unsafe and unsound legislation with respect to the waterway improve ments He said that if the rivers and barbors committee should report bill at this session providing for the issuance Of S1O00,000000 worth of bonds in the next 10 years he would vote against it.
 q have no doubt.' he said, that some of those people who quarter of cen tury ago tried to stamp out my pohtlcal life for voting for the rivers and har- bors bill in loS3 over the rivers and har- dent Arthur will say l am reaction ary, a sort of fly in the ointment; that l stand here in the way. Talk IS cheap but action is another thing
 Ambassador Nabuco of Brazil, Secre- tary of the Interior Garfield, Senator w. C. Edwards of Canada, James w. van Cleave, president of the National Asso- ciation of Manufacturers; J. A. Ocker- son. a member of the Mississippi river
 
 tive of the United Commercial Travellers Calvin Tompkns, member of the board of trade of New York; Governor Deneen of Illinois, Senator Owen of Oklahoma Fred Skene, state engineer of New York; Representatives James T. Lloyd of Mis- souri. and Col. c. P. Goodyear of Geor- gia, were among the other speakers of the day.
 Van cIeave's Views.
 Shocking from the national side of the question MT Van Cleave said that the or ganization of which he was president was fin hearty sympathy with the aim of the National Rivers and Harbors congress to obtain an annual governmental appropri- ation of $500, GOO for river and harbor fmproyement throughout the country.
 My own experience as well as that Of every other manufacturer in the coun- trv,' he said shows the harm which comes from the inability of the railways to handle the traffic promptly. During the past 10 or 12 months we have had no complaint on this score, for the traf- fc has fallen off. But the rapidity with which the number of idle cars is fall ing off warns us manufacturers that the old traffic congestion at our business centers will soon return. Under the im- pulse which trade has received in the past few weeks we must be prepared to see the old embargo at our big railway starOnS Dy crop iloVins tiiie ol ioo' ~ the latest"
 He gave as an imperative reason why the manufacturers must use all their in fluence to get a greater increase in trans portation facilities, the fact that in the last 20 years the volume of the coun- trv's manufactures had increased 100 per cent while the mileage of the railways had gained but 45 per cent Many of the railway chiefs, he said, acknowledged that the rolling stock and the terminal facilities could not grow fast enough to meet the demand.
 "Thus.' he declared, i've are compelled to bring the waterways into requisition to supplement the work of the roads. ' The railroad companies he said, would not oppose the project In fact, he said. some of the railway officials would prob abiv help He maintained that there was no necessary antagonism between the rivers and the railways and he argued