Counting the $15,000,000 contract of the Doullut & Williams Shipyard, the $5,000,000 contract of the Foundation Company Shipyard, the $13,000,000 army supply base, the Industrial Canal has already brought $33,000,000 of development to New Orleans, 60 per cent more than the cost of the undertaking. More than half of this was for wages and material purchased in New Orleans. The state has gained hundreds of thousands of dollars in taxes. About half the money spent on the Industrial Canal was wages; and helped to increase the population, force business to a new height, raise the value of real estate, and make New Orleans the financial stronghold of the South. What indirect bearing on bringing scores of other industries to New Orleans, which did not require a location on the waterway, the building of the Industrial Canal has had, there is no way of ascertaining. Since the work was begun the Dock Board has received inquiries from a hundred or so large enterprises regarding the cost of a site on the canal. That they have not established there is due to the fact that the Canal has not yet been completed, and the Dock Board has announced no policy. It is now working on that question with representatives of the Association of Commerce, Joint Traffic Bureau, Clearing House Association, Cotton Exchange, Board of Trade, and Steamship Association. There is no use trying to guess at what the policy will be. It is too big a problem, and must be worked out very carefully, with reference to a confusing tangle of cross-interests. Two principles have already been categorically laid down by President Hudson and endorsed by the Dock Board at an open meeting of April 5, 1921, with the commercial and industrial interests of the city, planning for the policy of the Canal: First, that the development of the Canal shall not be at the expense of the river. Wharf development will be pushed on the river to meet the legitimate commercial demands of the port. No one is to be forced on the Canal. That would hurt the port. It is not thought that such forced development would be necessary, and the Canal will be kept open for the specialized industries that can best use the co-ordination of the river, rail and maritime facilities. Second, that the control of the property along the Canal, owned by the Dock Board, will not go out of the hands of the Board. There will be long-term leases--up to ninety-nine years, but no outright sale. Furthermore, the private land on the other side of the Dock Board's property will not be allowed to be developed at the expense of the state's interests. So the frontage on the Canal will be developed before there is any extensive construction of lateral basins and slips.