And the answer came without hesitation: "It is absolutely necessary to the industrial progress of the city. We must have the Canal at all costs, and are willing to be taxed any amount for it."

On September 24, 1919, George M. Wells, consulting engineer, made a report to the Dock Board, showing that the last bond issue of $6,000,000 had been exhausted, and about $5,000,000 more was needed to finish the Canal.

This was in the last days of the Thompson Board, and it took no action. The Hudson board entered upon its duties October 2. It comprised William O. Hudson, president; William A. Kernaghan, René F. Clerc, Albert Mackie, Thomas H. Roberts. Later, Mr. Roberts resigned and Hugh McCloskey took his place. All are sound business men, with the interests of the port at heart.

They found, in the bank, only $2,067,845.37 to the Industrial Canal Account. After deducting the obligations already made there was left only $112,064.43 to continue the work. Without a public expression from New Orleans they were unwilling to incur the responsibility of issuing $5,000,000 more bonds.

President Hudson called a series of meetings of the representative interests of the city to decide what was to be done. As the people of New Orleans had decided to begin the Canal in the first place, it was only right that they should determine whether the undertaking, costing five times as much as the original plan, should be carried through.

The governor, the mayor, presidents of banks, committees of commercial exchanges, the president of the Public Belt Railroad, the president of the Levee Board, newspaper publishers, labor leaders and prominent business men were invited. Likewise, a general call was made to the community at large to express an opinion as to finishing the Canal.

At the meeting of October 17 the city made its answer.

President Hudson outlined the attitude of the Dock Board as follows:

"The board has no feeling of prejudice against the completion of the Canal. We are in favor of it. We are anxious to complete it. It was fostered by the citizens of New Orleans.

"The floating of the bond issue is a simple matter, if you men think we ought to do it; but where is the money for meeting the interest to come from? The $600,000 interest on bonds now outstanding is being paid, $550,000 by the Levee Board, and $50,000 by the Public Belt Railroad. The Public Belt's share is paid from its earnings; but the Levee Board's share is being paid by direct taxation on the citizens of New Orleans. Must we increase that tax? I personally won't object to any taxation as a citizen to pay my part towards financing the Canal."

"I want to see the canal completed," said Governor Pleasant. "But it is up to the people of New Orleans to say whether they are willing to assume the added obligation."

R. S. Hecht, president of the Hibernia Bank, and a recognized financial leader in New Orleans, then arose.

"I feel," he said, "that all who have the future of New Orleans at heart must agree that we are here to discuss not whether the Canal is to be finished, but how.

"Finished it must be, or our commercial future will be doomed for many years. If the Dock Board were to stop the work, it would forever kill its credit for any other bond issue that might be proposed for wharf development, new warehouses, or anything else.

"The cost of the canal is a surprise to everybody. I was present when the cost was originally estimated at $3,500,000 with a leeway of $1,000,000. I said then, and I repeat now, that the canal could be financed if the people of New Orleans stood squarely behind it.

"The cotton warehouse and the grain elevator cost a great deal more than the original estimates. So the Industrial Canal, though it is costing more than anticipated, because of the increased cost of material and labor and the increased size in the Canal, will, I feel sure, be justified by the development of the future.

"Are we to be taxed for fifty years for our investment of $12,000,000 and get no return, or are we willing to pay a little bit more and get something worth while?"

That expressed the sentiment of the meeting.