Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/169

Rh this basis the value of the roads above enumerated may he reckoned as $519,870,000 in 1914 and at $749,120,400 in 1920. Let us say $750,000,000 for a round figure for 1920 and let us guess $600,000,000 for 1916. These figures may be considered as roughly indicating the nation’s plant of highways for the transportation of goods, considering them as being analogous to the railways.

According to the Calder Committee the total public road mileage of the United States at the end of 1920 was approximately 2,500,000, of which about 165,000 miles had been surfaced with gravel and 135,000 with macadam, brick, concrete, etc. From the Federal aid road appropriations of 1916 and 1918, totaling $275,000,000 there was apportioned to the states $266,750,000. The law requires the states to match this by at least an equal amount, but up to date the states have put up $57 for every $43 of Federal aid. To Jan. 1, 1921, projects to cost a total of $350,127,085 were under construction, or completed. These projects total 21,531 miles, of which 12,060 have been completed. Allowing for the increased cost of construction during this period and for depreciation, etc., the total of $350,000,000 is not out of line with the increase in value from 1916 to 1920, viz., $150,000,000 that I have estimated.

According to the census for 1912 the value of the furniture, carriages, etc. in the United States was about $88.50 per person. For 1916 I think it not unreasonable to assume $90 and for 1920 an increase of about 10 per cent, or say $100. This is avowedly