CHART XT

Total Government Expenditures for Transportation,
Railroad Capital Expenditures, and Gross National
Product, 1946-1959 Projected to 1975

CHART XII

Total PRIVATE Investment in Transportation, 1946-1958 (Cumulative)

1946 47 48 49 50 51 52 53 54 55 56 57 58 59

CHART XIZ

TOTAL Investment in Transportation Facilities, 1946-1958 Projected to 1975, by Modes (Cumulative)

It is necessary to point out that the figures for air transport combine public expenditures and private investment of trunk-line carriers. The Government expenditures for maintenance and air traffic control are unfortunately included because of the difficulty of exclusion but they do not greatly distort the picture. On the other hand, investment of air carriers is confined to the domestic trunk-line carriers and does not include local and supplemental carriers or privately owned equipment or facilities. The air investment as a total is then roughly realístic. Similarly, the cumulative investment of Government expenditures for rivers and harbors includes maintenance as well as operation of locks. The private investment of water carriers is confined to those reporting to the Interstate Commerce Commission which makes for a very conservative figure indeed. Only the property investment of class I and II interstate motor carriers is reflected in the total highway figure. The investment in all commercial motor

vehicles would be several times the investment of those included.

The percentage change in investment totals as projected in chart XV based on tables I, X, and chart XIII are, therefore, only roughly approximate but are sufficiently representative to show how rapidly the social investment in transportation facilities is rising relative to the projected trend in ton-miles of demand for transportation. Investment in private motor cars and passenger-mile demand projections are not included. Roughly, they should balance out. Actually, the projections of social investment in transportation represent a most conservative estimate. They show that the social investment (public and private) cost of transportation per unit of transportation performed is growing at a fantastic rate.

This cannot but add a great financial burden to the economy unless the economy experiences a commensurate growth of commerce which would increase ton-miles. On the basis of the above figures we find that the investment per ton-mile increased from 4.6 cents to 6.7 cents from 1946 to 1959 and that by 1975 it may reach 8.2 cents per ton-mile. This is the result to be expected when transportation social investment costs outrun the gross national product.

CHART X