Evening star., 1952-02-24

FOT u. Lawrence LINK |
With Private Capital
A new plan for financing the
lons'spendinG 81. Lawrence Sea.
way largely with private capital
was put forward yesterday BY
senator AIKEN, Republican, Of
Vermont.
AZ the Senate Foreign laeiA.
lions COMMITTEES prepared 10 start
public hearings on the issue al
1880 am, tomorroW, the vers
mont Senator proposed creation
Oh a Government corporation with
power 70 sell bonds 10 the bubble
ND 10 ebTb million. 'fhe Treas
ufV Weuid be required 10 but I'd
Dhly ti0 million for the s6eek Of
the corporation,
The witnesses AZ temoFfeW's
hearings Will be uHderseeretafV OF
state James Hl Webb John p
small chairman OF the Munitions
B6AFd secretary OF the fnteFl0F
chapman, AHd btl cen Lewis A,
Plekr ehlel OF Army Engineers,
Other Senator'S Consulted,
Senator Aiken hopes this subu
etltHte plan VII meet one OF tho
arguments MRde AGAINST the SeRu
way that 10 take the entire cost
from Government funds AT this
time WeHld be inhRtlanRFVr
The amendment was drafted
after consultation with Senator's
Ma9Ay Of MlehlgaR and Douglas
OF AllnelR, Democrats, and Thye,
RepHhlIeAn, OF Minnesota,
The Aiken proposal follows the
method adopted by Canada last
year, when its Parliament set UP
o et, Lawrence Authority to go
ahead with the seaWay project
regardless Of whether the United
States participates, Canada will
invest Sl6 million In Its agency,
and authorize II TO sell $500 mil
lion OF bonds,
Two Phases.
There are two phases to the Z
project:
!. A deep-water channel con-
Meeting the Great Lakes with the '
Cult Of st. Lawrence t
2. A power development to be s
built at the International Rapids c
section. G
The Canadian Parliament also q
has approved legislation author
izing the Province of Ontario to u
build the power project in con- b
lection with an appropriate United +
States agency. n
In his recent message to Con- n
gress. urging action at this session, II
President Truman recalled that
during 80 years Of discussion Of v
the subject. the principal argu- Il
ments have revolved around 81
whether the Seaway part Of the q
project should be built. 9
The President pointed out this a
question is no longer at issue, be-.
cause the Canadian government
10 ready to proceed with the sea -ltl
way as soon as appropriate ar. %
rehgefnefts can be made for con. o.
stfuction OF the power protect. Z
Canadian Tolls. ''l' u
Senator Aiken points out that = =
II Congress fails 10 make this A \.
Joint project, Canada, proceeding i" "
alone. viii build the new seaway y
entirely on the Canadian side OF =
the river, and will determine the
tells American vessels will pay 10 |
use IL.
Once II has the new seaway \
built, Senator Aiken said, Canada y
no longer will be interested In
maintaining the old i4.feet canal "a
On the north side OF the @t, Al
Lawrence, which this country has h
had free use OF, n
The subject always has pre. w
dueed sharp conflicts In Congress nj
and II 10 likely 10 do 90 again this \,
year, y y
Chairman eonnaiiy Of the y
FoFeien Relations Committee, for ~
example, made II clear at the 4,
opening OF this session that no ID (,
llfehsly opposed TO the project, "
He argued q few weeks aes that 10
lhe seaWay project would be y
''ffeHeh up" for Ave months out Il
Of the year, and expressed hope a. a.
his committee Weud not approve 10, Ii
Senator Aiken has pointed out 81
that II the seaWay Ia built az a - -
jeiht project under the agreement y
drawn up with Canada In ie4i, a
the leeks and canals weuld DO on 81
the United States side OF the o. m
II f,aurAAaA