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00331:3 3l liThe fruits of a healthy environment in fish and wildlife resources, casual recreation opportunities, amenities and the like is a public heritage and the burden of cost sharing should be on those who dimish or take special privilege from it. II Gen. Herbert D. Vogel, American Society of Civil Engineers liThe American Society of Civil Engineers, with a member- ship of 66,000, is to be sure vitally interested in assuring that the development of the Nation's water and related land resources moves forward in a way to provide a sound and better quality of life for the people of these United States. liThe Society is deeply concerned with the delays in needed development of the water resources, due to adjustments to meet today's environmental requirements. The Society views the objectives of the 'Proposed Principles and Standards' as a positive comprehensive approach to resolution of this serious problem. liThe Society, therefore, supports the objectives of the proposal as announced in the Federal Register on December 21, 1971, as an important long needed step forward in the effort of the Federal Government to properly consider and evaluate all impor- tant factors bearing upon the security and welfare of our Society in the justification of Federal participation in proposed public works projects. II * * ::';: t~ }:C II .. The Society considers that the gains to the social welfare of the country clearly 'distinguish the discount rate appli- cable to public works from that applicable to private investment. liThe Society, therefore, believes that the discount rate based upon the concept of 'cost of money' to the Federal Govern- ment should be retained. II .............. ,,- ,... ~'" ....... ..... -r- ~l' liThe Society recommends that 'Regional Benefits' be con- sidered and evaluated for each project by the planning agency with their applicability for accounting purposes being conditioned upon their meeting the criteria of such benefits as defined in the 'Principles and Standards' and justified in the planning report. II * * }):: i,~ ':::