Show SECRETARY TAFT CONTINUES HIS I I STATEMENT TO HOUSE COMMITTEE I Washington on larch Ms Taft continued hIs statements haters the bou house e I on Insular affaIrs t today with refe reference ace to tM the Of 8 tor fr I internal Improvements ts and I on capital capita I to be Invested In rail rondo In the Philippine islands The see I or of the bin bill provision for tor bonds for Int Internal as so BO that th the law to he pad b by bythe I the Philippine commission n crea creaming ng the Indebtedness s is to be approved by the pre president of the United S States The secretary submitted an entirely new section on th the railroad ara problem mm lem It authorizes the P govern goorn m t to guarantee an income not to n cx nee ee d S ii per cent on C capital aJ invested in the J Islands laDds The act of t th commission shall ball provide for Sov governMental nuen 1 supervision or of orI the conduct of oC tile the finances of the lite roads I theIr location construction and There must u t be two or more g directors on OD the board The guarantee may be In the form Corm or of a guaranty of Interest on bonds bonda or of il ft coal on preferred or common t stock k or I L Lueb each other ton form as may he b de determined ly the government The total of the gov under the shall a ni exceed annually in case th Philippine government Cannot secure construction of the roads desired It i to Issue bonds at not lees th par to nit amount not exceeding and with the proceeds C the needed roads Secretary Taft explained that he was not in favor of the government I big tb roads beat he believed that It tie government retained the right to do s better terms might be secured from pr prate ate Investors The committee did not act on the is |