Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1914-02-26
FACTS ABOUT THE
ALASKA RAILROAD
WHICH THE U. S. WILL BUILD TO
OPEN COAL DEPOSITS.

D.
Bonds to BE Offered to the Investing
Public.
Washington, Feb. 21.-Both hous-
es of congress having agreed upon
the bill to provide s4O,OO0,OOO for
the new government railroad in Alas
ka, it is now comparatively certain
that the resources of that great coun-
try will become better known.
The project is of more interest
than even the expenditure of the $4O,-
100000 proposed could ordinarily
create. Coming SO soon after the
completion of the Panama canal, it is
attracting attention as another great
engineering project under the direc-
ton of the American government. In
a sense, too, it compares with the
governments undertaking in the COS
to push the Pacific railways across
the unbroken prairies and mountains
OF the west and thus link together
the west and the east Moreover,
the new project is to be the first
test in this country of government
ownership of a great utility; it is
expected to open to the commerce of
the world great and rich resources
that until now have been for the
most part lying idle; it will afford
employment to large army of men,
both in it's construction and in it's
maintenance; it will develop Alaska
agriculturally, as we'll as in other
ways, by attracting homesteaders, and
it will cheaper greatly various COM
modities of commerce, notably coal.
At least these are all things which
the friends of the measure claim
for it.
The total Of all railroads bought or
constructed is not to exceed one
thousand miles and the appropriation
for the purpose of s4GO0O,OO0, so
that he is limited to an expense of
$4,000 mile.
The president is authorized, if he
sees fit, to permit the government
railroad to be operated by contract
or lease, or it may be operated by the
Panama railroad company. This lat
ter company has been referred to in
the debates on the Alaska railroad
bill as an example of successful gov
ernment ownership, but it has been
pointed out in reply that it is not an
example Of government ownership in
the sense the phrase is generally used
because it is not commercial rail-
road, it's purpose being to transport
men and supplies being used up and
down the route of the Panama canal.
In constructing and operating the
railroad, the president is au-
thorized to employ in it's construction
and operation any number of men he
may think necessary, choosing them
as he pleases, only that those chosen
from civil life shall be under the su-
pervision, in the work of construc-
ton, of the engineers taken from the
army. The appointment Of any en-
gineer from civil life whose salary
exceeds $4,000 year must be con-
firmed by the senate.
The president is authorized, and
the Alaskan Railroad commission
that it be done, to util-
ize in Alaska all the machinery and
equipment used in the construction
Of the Panama canal as rapidly as it
is not needed in Panama and can be
used in Alaska, the president to fix
the price to be paid for it to the 18TH
maian Canal commission.
The bonds from the sale of which
the $4O,OOO,OOO is to be obtained are
to be sold so that any citizen may
have opportunity to subscribe.
The bill creates the ALASKA Rail-
way redemption fund.-" into which is
to be paid IS per cent of all money
received from the sale or lease of
public lands in Alaska; from the sale
Of coal or mineral or timber on pub
lie lands; and from the net earnings
Of the railroad above maintenance
charges and operating expenses. The
redemption fund is to be drawn on
by order of the president to pay in
terest on the bonds or to retire them.
The hope of the friends of the bill Is
that the bonds will be successfully
retired so that the government, so to
speak, will simply have made loan
to Alaska.
A, IN c0a1 Alaska ia rich It has