The Detroit times., 1909-02-17
WATERWAYS make
ISSUE OF BONDS
IMPERATIVE
OTHERWISE OUR COMMERCE
WILL GO ApRiFT, SAYS ALFRED
HENRY Lewls-Ler FUTURE
SHARE THE BURDEN.
BY ALFRED HENRY LEWIS.

WASHINGTON. Feb. i7.-Once
upon q time Mr.. Choate invited Mr.
I.auterbach--both being OF the New
York bar-to assist him In certain rail
way litigations. Mr.. Lauterbach as
sisted. Mr.. Choate asked fM MIR. I.au
terbach's bill. The latter is as mod.
est as learned. He put in charge for
$4,000. Mr.. Choate gave him a check
for 10000 The water stood In Mr.
Lauterbach's eyes.
Joe" he said. almost thou per-
suadest me TO be a Christian
In reference TO waterways bonds
en- In the half-persuaded class or Mr.
lauterbach. My first feeling agains,
bounds Is instant and instructive. and
stlrs me al merest bond mention,
whatever the sort of the bonds.
Bonds mean debt; DEBT means
taxes; and you have but 10 pile the
latter high enough and you'll tip the
boat over. When the boat tips over
nationally II Is called a revolution.
and revolutions are unpleasant and
expensive. Wherefore, my Unborn no
ton Is against bonds.
When ! struck the HOPKINS bill.
which authorizes an issue of $500
900. 900 OF waterways bonds. il read IN
me like nothing more nor less than q
proposal 10 authorize the issue OF
i've hundred million bloodsuckers
Could Fstten on Wrecks.
NO" | said 1t would merely
mean $500 900. 900 worth II national
banks. like the National City. for
example Being started, they could
like the National City--call loans.
start panics, invoke stock storms, and
latten upon the wrecks that strewet
the beach.
The money interests I'm New York
have already Unanswered and man.
aged until they've got the general
pocket caught. as ii were. between the
expressive and expansive Jaws OF 4
lemon squeezer and are extracting
from il the last financial drop Don't
let's add to the lemon squeezers: le;
Us not add TO the aggregate OF govern
ment bonds.
And now. as ] confessed al starting.
I've been almost conSertedJfrom thai
anti-bond position. as far as water
ways are involved. II was Senator La
Toilette who did it, He doesn't near
Il. but that Is unimportanl
To begin with. I've much faith in
Mr.. La Toilette. He is rugged. hon
est. forward travels on straight lines.
believe in his integrity, I'm mis- brains
Most OF all | believe IN his bias. He
is not Tory. As between the rights
Of property and the rights of perishing
flesh and blood he's for the lat
Ter. And so | felt and feel him 10 be
politically OF my tribe. speaking my
La Qohs
II was natural. then. that what no
said on any subject should enlist my
respect. even II II failed 10 gain my
Endorsement. Id at least feel sure
he had no AK TO grind.
Ia Toilette on Treasury Needs.
This, IN effect on that question CT
$500, 900, 900 of water ways bonds. is
what Mr.. La Toilette said
For two years the government In
the money sense. has run behind.
spending more than II took in The
oeficit for the year ended June 81.
1908. was nearly s60.000.OO0. The de-
felt for the year ending June 80.
1909, will be $l14,000.000. The deficit
for the year ending June So 1910, will
be St3,000.0 900. A nation whose ex-
penses oyerrun its income s315.ll6. 1898
In three years has lo money. will
have no immediat money with which
10 make mprovements-water ways
improve ments, for example.
And yet water ways we must have.
I'm year OF great harvests, OF
great prosperity. the railroads cant
handle our produce. They haven't the
cars They haven't the tracks. To
furnish what tracks and cars are need
ed would call for 5000 900 600 Indi-
rectly no less certainly, that $4,000
100000 and what interest charges sup
ported II would, in the guise of freight
rates. fall upon the public.
The only other chance to handle
the products Of the country in q year
( of prosperity. such as we have had
and have right to hope for in the
future, lies In the country's water
/ ways. Not in theii present shape.
| however. Our competitors In Europe
have us beaten in water ways. And
(. thus. when 1t comes to price-making
n In the market. they have us beaten
I again.
N The cost OF transportation helps 10
n Ak the price. To be upon a market
n par with our rivals, we must be upon
A water ways par with them. How
A much would It cost to bring the latter
n condition OF equality about? Not less
than 81 1000 100000. every dime TO be
spent upon a system of water ways
n 1t is better publicity to spend 81.
n 600 O00, 900 on waterways than private.
~ TO spend $4,000 ,000, 900 on railways.
for public and private In these con-
A nections mean the same Things lu
N either instance the public pays the
freight"