IV-487 



In 1965, dredging by the Corps was done at a cost of $2,237,949. 

 It was estimated by the Corps that commercial shippers spend 

 $100,000 on dredging operations while the Navy spent $50,000. 

 Assigning 85 percent of this cost of the Santee-Cooper Project, a 

 negative benefit of $2,029,756 was attributed to operation of the 

 project is 1965. 



The most competent engineering firms in the nation were employed 1n 

 designing and constructioning the project, and the design was 

 checked and approved by the United States Army Corps of Engineers. 

 Still, the analysis by the planners and engineers of the project 

 yielded estimates of benefits and costs which were substantially 

 different from those which actually occurred. Part of the discre- 

 pancy was due to simple optimism and even some bias on the part of 

 the analysts. An equally large part seemed to be due to the 

 inability of man to see even 25 years into the future. In the case 

 of silting, the state-of-the-art was such in 1930 that no adverse 

 effects were envisioned. As a result the dredging bill jumped 

 from $18,000 to $2,029,756 annually. 



