Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-10-02
(rheodore H. Price in Outlook. ]

lTheodorc II. Price IN Outiook.J
AZ we are entering upon the cam
paign for the sale OF the fourth liberty
loan. 1t Is altogether appropriate that
we should take account OF what two
years OF war viii have cost us and
determine. IL we can. In how far and
how speedily our expenditures can be
recovered under peace conditions when
they shall have been established.
Much of what we are spending Is
being Invested in the interest hearing
obligations OF our allies. which are
presumably good, and in ships. ship
yards, terminals. warehouses, railways
and other things that will be valuable
and productive long after peace is
declared.
The amounts that are being spent
constructively or invested in the In
terest-bearing debt of other nations
can not be accurately ascertained at
present, but the total is large and may
be approNimated. We know for instance.
that congress has authorized the
secretary Of the treasury to loan &c.
600, 0O0, 900 TO our allies, and that the
iSTcutS tiTestuy pidCtu ~ tHelT uiS-
posal aggregate about $1,000, 900, 900.
Probably we shall be we'll within the
mark In assuming that our investment
in ships and shipyards a year hence
will be at least $2,75O 900 900, and this
will not include the enormous add
tons that have been made to our navy
Then there are the military ware
houses that the war department Is
constructing in the United States. and
the docks, warehouses, and railways
that have been built in France as we'll
as In some other European countries.
Very few people realize that there Is
complete American owned and built
railway system now in operation in
France, which includes lines running
to the front from three different French
ports at which enormous terminals
have been erected at American ex-
pense with American labor.
These railways are equipped with
American cars and engines, are oper-
ated by American soldiers, and it is
veloped into a trans European trunk
line that will shorten the time between
Havre and Rome by twenty -four hours.
The accuracy of this statement can
not be vouched for, but from the
measer information obtainable it seems
safe to estimate the cost Of our per-
manently productive investments in
Europe ut $1,000, 100000.
An official statement from the war
department puts the outlay upon
warehouse construction in the United
States completed or in process
planned to facilitate the speedy handl-
ing Of materials for the use OF the
army" at Approximately $21S,000, 000."
Those who are amazed at these figures
should inspect the reconstructed Bush
terminal in Brooklyn. which Is said to
have cost $4,000 900.
Other permanently productive in
vestments that are being made as
result Of the war include such enter
prises as the plant for subtracting
nitrogen from the air that is being
built at Muscle shoals at a probable
ultimate cost of $4,000, 900, a powder
factory which will involve an outlay
Of S124,O0O. 900 and which is being de-
signed so that it can be used for the
manufacture Of fertilizers and scores
of gun and ammunitin works that are
owned by the government and can be
converted to the uses Of peace. Finally,
there is the capital that the govern
mcnt has set aside for the war finance
corporation, the railroad REVOLVING
fund" and the grain purchasing CO.
operation, which tho included in our
war costs. is being safely and produc-
lively employed and will be returnable
to the treasury In the process of post
bellum liquidation.
In Washington there are two organi-
actions within the war industries board
that have done remarkable work along