DOCUMENTARY HISTORY OF THE FLORIDA CANAL 105

 2. It will provide without additional cost to the Government the missing link
across Florida in the inland waterway system from Boston to Mexico.
 3. Practically half of the canal's cost will be expended in the industrial cen-
ters of the United States for the materials and equipment of construction and
will thereby provide stimulus for the heavy and specialized industries.
 4. The new business opportunities created by the construction of this canal
will necessitate the expenditure of private capital in large amounts over a
long period of years and thereby aid the permanent prosperity of the Nation.
 5. It will protect life and property from the hazardous Straits of Florida
during the hurricane season.
 6. It will be an aid to the national defense qf the Nation during times
of war.
 7. It is proposed that by means of reasonable tolls it will pay its entire
cost, operating charges, and interest, things which no other waterway project
within the continental limits of the United States is doing today.
 For the above, in addition to other reasons, we feel that the trans-Florida
 ship canal is entitled:
 First To the lowest rate of interest at which the Government can obtain
 funds.
 Second. That the project should receive as a credit deduction from the cost
 of construction, an amount equal to that which the Government must some
 day expend for a shallow waterway across Florida to complete the major link
 in its inland waterway system from Maine to the Rio Grande.
 Third. That it should be allowed the 30 percent grant to which the project
 is entitled under the law to offset the increased cost of labor and materials
 occasioned by the National Recovery Act.
 If you agree with our conclusions, Mr. President, we would be most happy
 should you advise the special board of review that the above points should
 receive proper recognition in their report.
 Sincerely yours,
 DUNCAN U. FLrrMCHB.


 DOCUMENT NO. 49 (FILES OF BOARD OF REVIEW), JUNE 28, 1934

 REPORT OF THE PRESIDENT'S BOARD OF REVIEW UNDER DATE OF JUNE
 28, 1934

 Pursuant to the request of the 10 Senators representing the Gulf
 States (Doc. No. 45) the President caused the Secretary of War and
 the Public Works Administrator to appoint a board of review con-
 sisting of two Army engineer officers, two engineers representing the
 Administration of Public Works, and a fifth engineer from civil life
 selected by the other four. This board was instructed to review the
 reports of the Administration of Public Works (Doc. No. 39) and
 the special board of survey of the Army engineers (Doc. No. 43),
 and to make such other studies of the project as it might deem
 advisable and to make a report to the President.
 This board of review, under date of June 28, 1934, made the fol-
 lowing report to the President:
 AT&iTIC-GULF SHIP CANAL BOABD OF REIEW,
 WahiAngton, D. C., June 28, 1934.
 The PEmmmD T,
 The White House.
 DEBz Ma. PmssMasT: The board of review appointed pursuant to your
 instructions by the Secretary of War and the Public Works Administrator
 submits the following report upon the costs of construction of the proposed
 Atlantic-Gulf ship canal across Florida.
 This board concurs with the War Department's special board in preference
 for canal route 13-B, which passes through Jacksonville, Palatka, and Dun-
 nellon, and recommends for your consideration a 30-foot, sea-level canal at a
 cost of $142700,000, exclusive of interest during the period of construction.
 This board further recommends the deepening of this canal to 35 feet when
 traffic may justify.