Word: seaway
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...billion asked for federal domestic agencies, chiefly by firing 100,000 employees and shaving secondary civilian programs. Among projects that can stand cutting: the school lunch program, since "the Depression has been over for years"; farm and education subsidies; debatable public works projects such as the St. Lawrence Seaway...
...Canada's national income was only one-quarter of what it is now. Yet the Canadians built the 114 million dollar Welland Canal, which connects Lake Ontario to Lake Erie. Canada did this despite the fact that the real value of the Welland could never be realized without the Seaway. Surely, with its present industrial boom, Canada can build a 250 million dollar all-Canadian Seaway, especially since it will pay for itself through toll charges...
This seemingly just proposition ignores the fact that steel prices set the price for most durable and semi-durable commodities. If iron ore transportation prices rose, as they would if Canada set its own Seaway toll charges, the price of steel would rise accordingly. Thus, the American public would, in the long run, finance the Seaway--either as taxpayers footing the higher cost of steel bought by the Government, or as consumers, buying durable goods...
...deny that the Saint Lawrence Seaway is, as the lobbies claim, a sectional issue. But it is sectional only in its harmful effects: it will hurt the coastal ports and the railroads that service them. It's benefits, however, would be national, not sectional. One has only to look at past "sectional" projects--the TVA, the Panama Canal, the Grand Coulee Dam--all of which, though they hurt local interests, benefitted the whole nation...
Faced with the steel requirements for defense, and the plain fact that Canada has grown tired of waiting, Congress should join Canada on the Saint Lawrence Seaway project...