296 



MULTIPLE PURPOSE RIVER DEVELOPMENT 



railways, cont. 

 gains to, from aluminum transport, 

 251-52 

 ratemaking base, 194 

 rates of return: 

 on alternative investment opportuni- 

 ties, 37; on assets of upper-income 

 families, 104-109. Table, 108; 

 average: 



in farming, 106-107; 

 of large corporations, 114, 114n; 

 of small corporations, ll6n; 

 used to approximate marginal 

 rates of return, 118-19; 

 changes in, affecting efficiency con- 

 ditions for public investment, 274; 

 on common stock, 107; 

 on curtailed loans, 121; 

 earned by households after taxes, 



108-10, Table. 108; 

 on investment for expansion, 261; 

 on marginal investments, 122; 

 and power rate schedules of federal 



agencies, 209; 

 to private utility investment, 192, 



243; 

 ratio to debt service charges, 209-10; 

 on real estate, 107; 

 from trusts, 107-108; 

 in unincorporated business, 106; 

 from venture funds, 189 

 rationality of consumer decisions, 40, 



126 

 rationing of capital, 73n 

 rationing of credit, 79. 83 

 real costs. 41. 206 

 real estate, rate of return on, 107 

 reclamation: interdependence in, 57; 

 investment in, 59-60; railroad sup- 

 port of. 59 

 recreation. 5. 9-, 148 



regional economic growth, and dy- 

 namic growth effects, 256, 263 

 regulatory commissions, and rates for 



resale of federal power. 243 

 rental income. 107 

 rents, monopsonistic, 58n 

 reservoirs, storage. 7. 8-9, 54, 55, 66, 

 74; in Alabama-Coosa river system 

 development, 171, 173, 174, 177-78, 

 182-83, 185-87; in Hells Canyon de- 

 velopment plans, 137. 139. 150; in 

 Willamette River project. 202 



residential construction, 81 



resource allocation. 15-51, 133; through 

 the capital market, 32-40; and con- 

 ventional market channels, 55-56; 

 efficiency conditions in {see efficiency 

 economic); and extra-market devices, 

 53, 56, 60, 71-72, 199; and income 

 distribution, 49-51; and marginal 

 adjustments by enterprises, 25-32; 

 socially efficient, 71 



resource uses, interrelation of. 57 



resources, fixed. 32-33 



retained earnings. 81. 107, 188; effect 

 of increase in, 114 



revenue, marginal. 46 



revenue, public {see also federal funds; 

 public funds; taxation): constitu- 

 tional limitations on use of, 273; and 

 efficiency considerations, 3, 10, 53, 

 71-72; and equity considerations, 3. 

 10; local government revenues, utili- 

 ties as source of. 220; objectives in 

 use of. 71-73, 72n-73n 



revenue bonds of nonfederal public 

 bodies, interest rate on, 209-10, 217, 

 217n 



risk premiums, 79, 122, 123-24 



risks. 48; cancellation of. 122; high, re- 

 lation to high returns. 123; and in- 

 dividual welfare, relation of, 123; in 

 resource projects. 124; in use of tax- 

 ing power, 273 



river basin development {see also fed- 

 eral development; integrated system 

 development; multiple purpose river 

 development; nonfederal public 

 development; private development; 

 water - derived commodities): ap- 

 proaches to, under Federal Water 

 Power Act, 134-35; criteria in, other 

 than efficiency, 12-13, 265-66; depar- 

 tures from competitive conditions in, 

 41-42, 47-48, 53-68, 72; determina- 

 tion of risk premium in, 124; equity 

 considerations in, 3, 10, 11-12, 14; 

 financing through tax revenues, 77, 

 84, 189; programs, characteristics of, 

 4-10 



Rivers and Harbors Act of 1945, 175 



road-user taxes, 99 



Robinson, Joan, 46n 



Rock Island Dam. 258n 



Rolph. E. R., lOOn 



