A Procedure for the Determination of the Aggregate Annual Cost of the State Highway System

Approximately one-quarter of the national economic income of the United States is spent in transportation, including the tributary manufacturing and extractive industries as well as those directly engaged in moving people and commodities. Transportation assets represented a total investment of approximately 50 billion dollars in 1922. Additional capital expenditures during the last ten years for railroad, air, marine and motor transportation have increased this investment to 65 billion dollars.The problem of financing this increased construction is discussed. It is a pressing problem before the state legislatures, and receives increasing attention from the national government.