50 BULLETIN 102, UNITED STATES NATIONAL MUSEUM. 
misunderstanding that has blocked water-power development, and 
will afford the point of departure from precedent in favor of coal- 
field generation of electricity. Owing to the magnitude of the issue 
and the manifold lines of progress directly at stake, the development 
will provide a nuclear point for the establishment of a constructive 
economic policy, needed not merely for the full development of this 
field but as well for the proper unfoldment of the industrial possi- 
bilities of the country in general. As such a policy has not developed 
in the past because of economic sectionalism growing chiefly out of 
an unequalized development of the energy resources, the nationaliza 
tion of industrial opportunity attainable through a balanced develop- 
ment of power supply will clear the path of the main obstruction to 
unified action. 
Thus specific action in respect to establishing a common-carrier 
system adapted to the power needs of the country will not only go far 
toward solving the problem of transportation, but it will improve the 
fuel supply, correct the economic fallacy of drawing upon capital 
resources while neglectful of income, contribute to the recovery of 
the values now lost in the consumption of raw coal, lead to an ade- 
quate development of electrochemical activities, cut off a needless 
annual expenditure running well beyond the billion dollar mark, and 
constitute a potent contribution in the direction of stimulating the 
upgrowth of a constructive economic policy of national scope attuned 
to the needs of modern industrial development. 
