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Page 4 FROM THE EXECUTIVE VICE PRESIDENT'S DESK In looking over my notes from the National Waterways Conference, I found these interesting comments. They are not verbatim so I have not tried to identify w~o made them. Most of them refer to the new Principles and Standards. A recommended plan must have net economic development benefits. The benefit/cost ration won't be displayed. The grandfather clause will apply to all studies, It will be applied selectively on authorized but unfunded projects. The discount rate will be based on the cost of all Federal borrowing. Planning is the art of putting off until tomorrow what you have no intention of doing today. There are 377 active authorized Corps projects on which construction has not been initiated. 176 remain justified at the new discount rate. Other projects would have to be reformulated. Regional development is only an income transfer - a taking away from some other region. We do not have a clear set of goals for National Water Policy, An economic impact study should be required before you recommend the imposition of tolls. Congress should set the guidelines, Certain benefits are attainable through inland waterway traffic which are not attainable by other modes. There will be more State and less Federal involvement in water resource programs. The National priorities will be urban areas, energy (hydroelectric power) and commercial navigation (over recreation boating). Adjunct project purposes are getting more difficult to include (in a multipurpose project), A smaller proportion of a lesser amount will be available for new construction. Where is it that "Never is heard a discouraging work?" Certainly, not at Tampa. Col, Pinkey attended the Deep Fork Watershed Asso~iation meeting in Edmond on August 17; several sessions of Legislative Committees considering Oklaho~a water plans; the National Waterways Conference, Ta~pa, Florida, September 12-14; and the National Forum on Growth with Environmental Quality, September 23-25. OUR THANKS To Mr, Marc Tower and the NatioDal Ban~ of Tulsa for hosting the Executive Co~nittee ~eeting on August 29. To Mr. Bob Morriso~ and Ro~kw211 Internatio~al for hosting the Membership Co:nmittee meeting on August ].').