Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1918-02-19

ance of the war, state, county NUM-
cipal corporate and individual financ-
ing should be strictly limited to prof.
ects which will contribute to the sue
cessful prosecution of the war. or
which are necessary for public health
and welfare.
1T is only by subordinating local and
personal interests to the public welfare,
and by enforcing the most rigid econ
omy in matters of public and private
enterprise, as well as in matters Of per
sonal expenditure, that the United
states can hope to bear its part of the
financial burden of. the war and to re-
lease sufficient labor and materials for
war purposes without depletion of our
resources.
The Board has consented to under
take this responsible work. and |
strongly urged upon the corporations
and the bankers of the country, that
before making contracts requiring the
use of labor and material, or before
placing new issues of securities or
agreeing to purchase new issues or Sc
curities, they confer with the Federal
Reserve Board in order that it may de-
termine whether the undertaking COW
cred by the proposals is necessary for
the public health and welfare, or con-
tributes directly toward winning the
war.
We are engaged in q great war. a
war in which the very safety OF Amer
lea is seriously imperilled. We can not
win this war unless every resource of
I n \
used with the utmost intelligence. The
great financial operations of the GOV
eminent, greater than those ever un-
dertaken by any government in the
history of civilization, make it essen
tial that every unnecessary expenditure
by the Government, BY the states and
municipalities, and by private corpora
tons and individuals be avoided while
the war IS in progress. Unless this is
done 1t will be impossible for the peo-
pie Of the United States to furnish the
money which the Government must
have to support its soldiers and sailors
who are shedding their blood for us
upon the battlefields.''
After Mr.. Goff had presented this
written statement, it was made very
clear that highway work, which is
financed by direct taxation. would not
interfere in the least with the govern
ment fiscal operations, or with the
prosecution of the war. In fact. it was
made very clear that the customary
maintenance work and construction
work of closing gaps in trunk line high
ways should be vigorously prosecuted
as military measure.
Another matter which was cleared up
for the state highway officials at this
meeting. was the question of securing
cars for the movement of materials
necessary for road maintenance and
construction. This matter was acted
on by the association at its meeting. in
Richmond during the first week of De-
cemhcr. and the following communica-
ton from w. G. McAdoo director gen
eral of railroads, sets forth the car
service which highway dcpar tments
may expect
Your letter received enclosing The
resolutions adopted at the Richmond
! meeting by the mcmicrs Of yonr as
ISOLATION. requesting an outline If q
! poilCN defining the character Of roads
or streets for the construction or main
tenance Of which cars will be furnished
for the shipment Of materials
The United States Railroad Admin
istration will cooperate with the Sec
rotary of Agriculture by transporting
materials for the construction Of ma
tional highways designated by him as
q military or economic necessity. when
the equipment is available and not
needed TO move supplies for the Army.
Navy, Shipping Board, or other Gov
crnmental activities" Q
Several other matters received the
attention Of the executive committee.