THE RAILWAY PROBLEM
There are three problems related to the National Railways. First, the reconstruction of the lines, including the repair of fixed material; the construction of the works of art destroyed and the replacement of equipment. The payment of the indemnity which according to the Railway Law the Government must make to the Company must also be considered; in other terms, the first problem consists in the settlement between the Company and the Government. Second, the financial reorganisation of the company, including the indispensable arrangements with the Trust Companies representing the bond holders, the consolidation of the floating debt and the arrangements relating to certain bonds to secure interests that have matured. Third, the administrative and technical reorganisation of the Company's services, so that the system may be again operated by the owner company on the new bases exacted by the social transformation the Nation has suffered.
Of all these problems the most pressing is the replacement of the lines, which public necessity is imperiously demanding. At the same time the solution of this problem is indispensable so the rest may be studied and decided successfully.
The Executive of the Nation needs, then, to be ready to cope with all the obligations related with this preliminary problem, and for this needs the authorisation of the Legislative Power in order to
