The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-02-08
ALASKA'S WEALTH
EQUALS U. S. DEBT,
SAYS GOVERNOR
Declares New Railroad
Will Yield Big Return
To the Government.

10 the government.
The Territory of Alaska, bought
from Russia for s7.2oo.o00, has
enough undeveloped natural wealth
available to pay the national debt of
$24. 200. 900. 200. Scott c. Bone, gov
ernor Of Alaska and former Wash
ington newspaper editor. told the
City Clubs luncheon forum yester.
day.
Transportation and a centralized,
nonbureaucratic government are the
two great needs today of this rich
territory. nearly one-fifth as large
as the United States" Gov. Bone
told the audience. But today-ir
spite of the fact that Alaska has lost
population in the last ten years
the prospects for this Territory are
brighter than ever before. In the
first place. the President. Secretary
Fall and the administration gener-
ally are committed to its develop
ment; and in the second place, the
first railroad has been completed.
Railway Cut. Living Cost. e.
This railroad, running 500 miles
directly north from Seward. on the
Southern coast. to Fairbanks, in Gen.
tral Alaska Is now operating two
trains a week between Seward and
Fairbanks and has already cut the
cost OF necessities In Fairbanks by
so per cent and will continue to cut
them even more.
Although this railroad cost the
government approximately $56. .000,-
900. confidently predict that it will
yield as great return to the gov
ernment as has the original pur-
chase of the Territory. Its construc-
tion was a monumental work, and
the credit for ii belongs to Col, Fred
erick Mears, an unassupc.ng army
engineer.
1T was a COMMON belief in the
past. and ] must admit that I shared
it also, that the government could
not do such work and do it well. Bu;
I want TO say that this has been
disproved in this job. The railroad
has been built, without politics
built well as big business PROPOSE
tion and without waste or graft.
1t is the outstanding event in the
history of Alaska since America pur-
chased that Territory fifty-five years
ago.
Coal, Copper and OIL.
Coy. Bone also dwelt briefly on
the great natural resources Of the
Territory.
'''of the gold that has been taken
out you all know" he said, "bu,
there still remain. practically un-
touched. enormous beds OF coal. COP
per and oil. At one site where the
navy is now working there are 600,.
900 tons OF hard coal in sight, while
at another location 10000 tons arc
in sight. The oil fields at Point Bar.
row, within the Arctic Circle, are
most promising; but they are 60(
miles beyond the northern terminu:
Of the government railroad, and the
government, in the nature of things
cannot build the necessary transpor.
tation 20 this district.
"Rich copper mines already have
been opened by private interests
while there are 10000 acres of land
finely adapted to agriculture. The
fisheries and forests also are i'm
mensely vf'uable. "a.
"These great riches, I feel. must
be utilized, not for any selfish in.
terests, but for the general benefit
of mankind. The problem calls fol
initiative and she revival. Of the Amer.
lean pioneer spirit"
In introducing Gov. Bone, John
Walsh. chairman OF the forum com.
mittee. said he would rather be gov
ernor of Alaska at this formative
stage in its development than OF any
sovereign State in the Union r. P.
Wilcox. a member OF the board OF
governors, and John Dolph. vice
preskent, also made brief talks on
filling the membership quota.