Viewing page 29 of 97

This transcription has been completed. Contact us with corrections.

In order to annually continue improving equipment, domestic air mail carriers are borrowing or securing from their stockholders large sums for purchase of new and improved equipment during the fiscal year 1937 and during the fiscal year 1938. The air mail contractors have already obligated themselves to spend approximately $11,000,000 for new airplanes during the fiscal year 1937 and they contemplate so spending an additional $15,000,000 during 1938 with a view to further annually improving equipment. Not only will such improvement attract a greater poundage of air mail but it will also attract a greater volume of passenger travel and an increased volume of express. As the volume of passenger and express business increases, we approach closer to the day when the pound miles rates on air mail may be decreased without America jeopardizing the progress and success of its commercial aircraft industry. It is thus to be seen that Federal government is not the only one devoting cash to progress in civil aeronautics. The air mail contractors are raising their share, and probably considerably more, of the money spent in the furtherance of America's civil aeronautical progress.
The second of the causes of increase is without doubt the devoted and energetic work of the officials and employees of the Post Office Department, and of the Post Offices, both in air mail cities and in those which are stillwaiting, hoping to come on the air mail map. 
I hope that the Post Office Department officials may have told you something of what they are doing to make this expedited air mail service available to the general public, but because of their natural modesty, I fear that they may not have done so. I am not sure that you would want to hear that interesting story at second hand. I mention it (1) so that you may know how much the public appreciates what the Post Office officials and employees are doing, and (2) so that, if modesty has prevented their taking deserved credit, you may, if it is your pleasure, ask specifically for evidence which I am sure they can furnish of the promotional activities which they have conducted.