For a generation it has been the gilded dream of Midwest farmers and manufacturers that some day bigger, better boats would carry their goods down the Lakes, down the St. Lawrence, and across the sea. Herbert Hoover and Franklin Roosevelt both pledged themselves to the development of a Lakes-to-Atlantic Waterway. Last week President Roosevelt moved to redeem his pledge by urging the Senate to ratify the ''so-called St. Lawrence Treaty" with Canada which President Hoover after long delay had wangled through to the signing stage in 1932.

Since it takes two-thirds of...

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