Evening star., 1933-07-19

considering the economic situation in
which we find ourselves. We will exer-
else the right to look into the past
financial history of any community
asking for financial aid We will not
hesitate to study the fiscal policies and
scrutinize the bookkeeping system of
any such municipality We would be
failing in our duty to the people of
the Nation as whole If we should not
insist, where necessary, upon prudent
and businesslike management Of the
affairs of any applicant for loan
We will reserve the right in every
case when we lend money to pass upon
the contract under which the work is
to proceed, to inspect the work from
time to time, and to supervise the pay
nit the money of the people to be
improperly used. Our heads are not
buried In the sand. We know that in
all too many communities of these
United States the building Of even nee
essary and desirable public works is
often attended by major scandals.
Money has been wasted; graft has been
eXacted and paid; political gO-betweens
have had to have their cuts: work has
been skimped under the unseeing eyes
of So-called inspectors" I want to
assure the people that it will be the
policy of the Federal Government, so
far as it is humanity possible, to pre-
vent graft and crookedness and waste.
We will try to see to it that every
dollar is honestly spent.
The Special Board for Public Works
has fixed upon per cent as a fair
interest charge for money loaned on
any State or municipal enterprise. We
will require that the sum SO loaned
be amortiZed within the reasonable life
of the project but in no case shall the
period of amortization be longer than
30 years.
Col. Waite Is Deputy.
Under the law it will also be proper
to lend money for legitimate private
building enterprises, but if this is done
there will be no contribution by the
Federal Government. Whatever amounts
may be advanced for such purposes
will have to be repaid in full at an
interest rate yet to be determined
but which in all probability will be
higher than the per cent charged to
public bodies 1t goes without saying
that only the most worthwhile build
ing enterprises will have any chance
to borrow from the National Govern
ment. We will not pour taxpayers
money down any ones private rathOle.
AS deputy administrator of public
works one of the outstanding engineers
of the country has been selected in the
person of Col. Henry M. Waite, a
grandson of former Chief Justice OF
the United States Supreme Court. Col.
WaiteS record as an engineer, as a
municipal official in Cincinnati, and as
manager of the city of Dayton. shows
him to be Just the type of man to
have on guard in a responsible enter
| prise of this nature. Associated with
him on the engineering, the legal, the
financial and the general admlnlStra-
tive staffs are. able and high minded
men chosen regardless Of political. or
any consideration other than those OF
character and demonstrated concern
for the public welfare.
We have divided the country into 10
regions. each region consisting OF a
group Of States conveniently put to-
gether for temporary administrative
purposes For each region man will
be selected who will be known as the
regional adviser. In each State there
will be set up an advisory committee
of three All of these men will be
appointed by the President, will be un-
der his orders, and will be responsible
to him. They will be chosen on the
basis Of characte.' and ability. Politics
will not be considered in these ap-
pointmentS.
All projects within a State must
first be presented TO the State Advisory