»9°5] HAUPT— EMANCIPATION OF THE WATERWAYS. 43 



railroads he would but have emphasized the Commercial Paradox, 

 which comparatively few persons appear to recognize. 



In 1890 the unit rate by rail was about 9 mills and by the lakes 

 alone was 1.2 so that the computed saving on the tonnage moved 

 by water that year was $147,027,514. Applying the same method 

 to the tonnage and rates of 1903 it is found that the water rate is 

 about 6.7 mills less that that by rail while the total ton-mileage of 

 the lakes is 28,974,660,408 so that the economy effected for the 

 year 1903 is about $194,139,206. Attention is directed to another 

 impressive result of the deepening and enlargement of the capacity 

 of the channels, in the greatly increased size, tonnage and economy 

 of operation of the vessels engaged in this traffic. Thus from 1855 

 to 1883, or during the 26 years when the draught was limited to 

 12 feet the traffic increased from 106,296 to 2,042,259 registered 

 tons, giving an average increment of 56,918 tons per annum. 

 From 1883 to 1896, when the Weitzel-Lock was in operation, with 

 its 16 feet depth, the annual increment was 935,211 tons and after 

 the opening of the great Poe-Lock in 1896 it immediately expanded 

 to 2,750,000 tons so that the registered tonnage in 1902 reached 

 the unprecedented total of 31,955,582, in the seven months of 

 open navigation. Again the value of land is effected by its earn- 

 ing capacity as measured by the price of its products on the spot 

 and this in turn is a function of the cost reaching the ultimate 

 consumer. 



Thus the effects of the cheaper water routes manifests itself most 

 remarkably, as will be seen by reference to the average values of 

 the farm products of the several states as furnished by the Depart- 

 ment of Agriculture. From the statistics covering a decade, it is 

 found that the lowest average price for wheat is in Nebraska and 

 that it increases in value as the seaboard is approached. The dif- 

 ference in price between the 50.9 cents per bushel in Nebraska and 

 the 7S cents at New York, 1,214 miles distant, is 27.1 cents per 

 bushel or $8.94 per ton which gives 7.2 mills for the ton-mile rate 

 which is just the average for the United States, so that the price on 

 the farm in Nebraska is regulated by that at the port of export, less 

 the freight charges. 



In Missouri where wheat maybe shipped by the Mississippi river 

 to New Orleans from St. Louis, 1,162 miles for 4.88 cents per 

 bushel or $1.61 per ton the rate becomes only 1.4 mills by water. 



