Show I Other Poi Points ts of View I CANAL DIVIDENDS DS In order to pa pay even n 3 per cent dividends on the investment invest invest- meat ment the Panama canal must show sho san an nn excess of oC revenues over expenses oC or about a a year ear In the five ve years cars of ot its operation It has shown excess of cf t expenses over revenues of ot G. G The figures are taken from the tho report for the fiscal year ear ending June 0 30 ZO 1919 No allowance allow allow- alow- alow ance anco for upkeep and depreciation Is made Running eXpenses expenses ex eX- and receipts o only lr aro arc included in tho statement This makes males the tho total deficit on a 3 per cent Interest basis about for the five t e years ear These heso figures do not tako talo into account the tremendous value of the canal as a a a. potential clement in the expansion of ot American commerce nor is any allowance made for tor the effect of or the wa war war on the financial success success' of ot the project project Tho rho world orld has yet et to learn arn to us use tho the Panama Panama canal anaL anal It I has yet ct to realize that as ne compared with the long n voyage around South America the voa voyage a through the tue canal even en at nt high toll toil rates Is Js almost nothing nothing- In particular pa this cO country must tal talc c o the military advantage of the canal as asmer mer merely incidental and nd make the commercial advantage pay Its Is own way r The canal einal a should I. I I u bo used se more e. e extensively e sl tor for t the 61 J 1111 UL LI IL to o the ne veste vest wez- ei e seaboard Tho government gO now authorizes discriminatory tor tory freight rates rate which enable the railroads s to compete with v canal business by bp th the simple expedient of making up upI I tho the difference out of the pockets of or the people of ot the intermountain in in- n- n I territory Thus the canal a government go prope is it Ii being robbed of ot legitimate business because of tho governments government's wholly stupid p policy lc toward the western west west- western ern era railroad Since the long IonS and short haul has beena been a public issue and though tho the canal has greatly strengthened strengthened strength strength- ened the western shippers shippers' case the they arc are still sll tho the victims o of injustice indianapolis Indianapolis News |