The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-11-03

1880. Inc 1acC tn0C q gooQ deal OF
the work has been undertaken on .
long-range basis makes it probable
that this authority may be further
extended by congress. Indeed, there
has been considerable expectation
that some sort Of Public Works Ad-
ministration might become Q perman-
ent agency Of the federal government.
1nasmuch as some Of the projects
required q great deal Of preliminary
work before actual construction could
start, many months will be required
for completion. In some cases ella
borate engineering, surveying. ARCH
itectural, and designing work had to
be accomplished before the actual
turning of q spade. Although definite
allotments have been made and the
money IS available to be drawn
against, 1t was found that at the end
Of year only 80 per cent Of all PWA
funds had been actually spent and
only 28.8 per cent Of the man-hours
Of work to be done had been per-
formed. Obviously, then, the impetus
given to public works will be felt for
some time to come.
This Is especially true In view Of the
fact that the PWA has latent ability
to refinance itself without recourse
to congress for further appropriations.
It is the theory Of the PWA grants
that when grants are made to states.
municipalities, and other subdivi-
sions, they shall put up sum equal
to 70 per cent Of the total. As the
Public Works program was under
taken ct 2 time when nearly Ill To-
cal governments were at low ebb H.
nancially, cash was lacking and the
evidences Of Indebtedness Of the bor-
rowers-bonds, certificates Of tndebt-
edness, and the like-were turned over
to the Public Works Administrator.
Good Market for Securities
These securities, for the most part,
have . high value. Being the issues
Of independent authorities, they en-
Joy exemption from the federal In
come tax and this endows them with
special marketability. Therefore, Ad-
ministrator Ickes found that he was
able to sell them on the public mar
ket, thus bringing In to the PWA sub
stantial sums which can be lent out
again. While, In the first year, only
fractional part Of what was held
in the PWA portfolio was disposed Of.
these selling operations may proceed
indefinitely. The administrator had
taken over in the neighborhood Of
$3.50. O00. 900 in obligations Of this type.
With such vast sums to expend.
Public Works Administrator Ickes was
beset by applicants, official and UNI
official. Representatives Of state and
municipal governments seeking allo-
cation Of federal money thronged the
Washington offices, and, daily, huge
sums were turned over.
The PWA. like most Of the new
emergency agencies Of the federal
government, was IN . state Of pro-
gressive evolution from its inception.
What constituted the policies and &C.
tivities one week might well change
direction the next. An example y
furnished by one Of its subsidiaries,
the Electric Power Board Of Review.
created to make recommendations On
applications from municipalities and
other subdivisions seeking grants ana
loans with which to establish power
and light utilities While the body
recommended favorable action on
some applications, action Of private
companies in lowering rates altered
the policy. Also the threat Of I'd.
verse court action on the constitution.
atty Of such federal financing had .
retarding effect.
No matter what obstacles confront
ed the basic program, It continued to
forge ahead, leaving IN indelible mark
on the face Of the land in the erection
Of structures Of steel and masonry,
in the changing Of physical features
Of rivers, and In the fertilization Of
the people themselves against the as
saults Of fortune.