The Detroit times., 1909-02-18
WATERWAYS Make
ISSUE Of BONDS
IMPERATIVE
OTHERWISE QUA COMMERCE
WILL GO ADRIFT, SAYS ALFRED
HENRY lEWIs-LET FUTURE
SHARE THE BURDEN.
BY ALFRED HENRY LEWIS.

by ALFRED HENRY LEWIS
WASHINGTON, Feb. l7.-Once
upon a time Mr. Choate invited Mr.
I.auterbach--both being OF the New
York bar---to assist him in certain rail-
way litigations. Mr.. l.auterbach as
sisted. Mr. Choate asked foi Mr. Lau
lerbach's bill. The latter is as mod
est as learned. He put in charge for
$1,000. Mr.. Choate gave him checl.
for $4,000. The water stood In Mr.
Lauterbachs eyes.
Joe" he said, almost thou per-
suadest me to be a Christian
In reference 10 waterways bonds
am in the half-persuaded class OF Mr..
l.auterbach. My first feeling agains.
bounds Is instant and instructive. and
stirs me at a merest bond mention,
whatever the sort OF the bonds.
Bonds mean debt: DEBT means
taxes: and you have but to pile the
latter high enough and you'll tip the
boat over. When the boat tips Over
I nationally II Is called a revolution.
and revolutions are unpleasant and
4 expensive Wherefore. my Unborn no
tion Is against bonds
When | struck the HOPKINS bill.
which authorizes an issue OF $500
O00. 900 OF waterways bonds. II read 10
me like nothing more nor less than n
| proposal 10 authorize the issue OF
ave hundred million bloodsuckers.
Could Fatten on Wrecks.
NO" | said 1T would merely
mean 100000 900 worth u national
7 example. Being started, they could
Nfof ...,Il
I start panics, invoke stock storms. AMI
fatten upon the wrecks that strewe1
| the beach.
The money interests in New York
have already Unanswered and man
1 aged until they've got the general
4 pocket caught as II were. between the
! expressive and expansive jaws OF 4
lemon squeeZer and are extracting
from II the last financial drop Don't
let's add to the lemon squeezers: lie,
us not add TO the aggregate OF govern.
ment bonds"
And now, as confessed at starting.
I've been almost converted from that
bond position as far as water.
ways are involved Ii was Senator La
Toilette who did II. lie doesn't near
IT, but that Is unimportant
To begin with. I've much faith in
Mr.. La Toilette. He is rugged hon.
lest. forward; travels on straight lines.
| believe in his integrity. In his brains
Most OF all, | believe In his bias He
ID not Tory. AS between the rights
OF property and the rights OF pershing
flesh and blood he's for the lat
tier. And so | felt and feel him 10 be
POLITICALLY OF my tribe. speaking my
Language, fighting my pet foes.
IL was natural, then. that what no
said on any subject should enlist nv
Prospect. even II it failed To gain nv
Endorsement. Id at least feel sure
The had no ak to grind.
la Toilette on Treasury Needs.
This, In effect, on that question cs
$500 100000 OF water ways bonds, is
twhat Mr.. La Toilette said:
For two years the government. In
the money sense. has run behind,
spending more than 1t took In. The
,efcit for the year ended June 80.
1905. was nearly $60,O000 900 The de.
Ifcit for the year ending June 80.
1909. will be $ll4000.000 The deficit
Tor the year ending June 80, lal0. will
De $4,000 900 A nation whose ex-
penses overrun its income $315 tl6,g9S
In three years has 40 money. will
have no immediate money with which
% make improvements-wat ways
improvements. for example.
And yet water ways we must have.
I'm year or great harvests. OF
great prosperity, the railroads can
handle our produce. They haven't the
sGro They haven't the tracks. To
furnish what tracks and cars are need
ed would call for $4,000 100000 Indi-
rectly. no less certainly, that $4,000.
300 900 and what interest charges sup
ported II would, In the guise OF freight
ates, fall upon the public.
THE only other chance TO handle
tho products of the country In a year
Df prosperity. such as We have had
and have right 10 hope for In the
o future. lies In the countrys water
ways. Not in theI present shape.
however. Our competitors I'm Europe
have us beaten in water ways And
thus. when 1t comes to price-making
In the market. they have us beaten
again.
The cost OF transportation helps 10
nix the price. To be upon a market
par with our rivals, we must be upon
water ways par with them How
much would II cost to bring the latte.
condition of equality about? Not les I,
fhsn 81 900. 100000. every dime TO be
pent upon system OF water ways.
1T iE better publicity To spenu "a
100 .000. 900 on waterways than private.
v 10 spend $4,000 900 900 on railways,
FOR public and private in these con-
,cctiors mean the same things. III
lthcr instance the public pays the