State of the Union Address
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In our eReader you can find the full English version of the book. Read State of the Union Address Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book State of the Union Address
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" If this work is to be promoted by the usual financial methods and withoutthe aid of this Government, the expenditures in its interest-bearingsecurities and stock will probably be twice the actual cost. This willnecessitate higher tolls and constitute a heavy and altogether needlessburden upon our commerce and that of the world. Every dollar of the bondsand stock of the company should represent a dollar expended in thelegitimate and economical prosecution of the work. This is only possible byg...iving to the bonds the guaranty of the United States Government. Such aguaranty would secure the ready sale at par of a 3 per cent bond from timeto time as the money was needed. I do not doubt that built upon thesebusiness methods the canal would when fully inaugurated earn its fixedcharges and operating expenses. But if its bonds are to be marketed atheavy discounts and every bond sold is to be accompanied by a gift ofstock, as has come to be expected by investors in such enterprises, thetraffic will be seriously burdened to pay interest and dividends.
What to read after State of the Union Address?
You can find similar books in the "Read Also" column, or choose other free books by Harrison Benjamin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
" If this work is to be promoted by the usual financial methods and withoutthe aid of this Government, the expenditures in its interest-bearingsecurities and stock will probably be twice the actual cost. This willnecessitate higher tolls and constitute a heavy and altogether needlessburden upon our commerce and that of the world. Every dollar of the bondsand stock of the company should represent a dollar expended in thelegitimate and economical prosecution of the work. This is only possible byg...iving to the bonds the guaranty of the United States Government. Such aguaranty would secure the ready sale at par of a 3 per cent bond from timeto time as the money was needed. I do not doubt that built upon thesebusiness methods the canal would when fully inaugurated earn its fixedcharges and operating expenses. But if its bonds are to be marketed atheavy discounts and every bond sold is to be accompanied by a gift ofstock, as has come to be expected by investors in such enterprises, thetraffic will be seriously burdened to pay interest and dividends.
What to read after State of the Union Address?
You can find similar books in the "Read Also" column, or choose other free books by Harrison Benjamin to read onlineMoreLess
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