The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1895-12-05

ton Is called to the failure of the Carey
bill to accomplish the results expected.
The secretary attributes this to the fact
that the bill intended that money for
the irrigation should be raised upon the
arid lands given to the states. This
has been impossible on account of the
fact that sufficient control over the
lands was not given to the states to
make them available as security for the
money expended in their reclamation.
FORESTS.
Under the subject of forests, the secre-
tary calls attention to the fact that 15,-
100000 acres are now included within
forest reserves, the object being to
thus preserve the forests for future use,
and, through their preservation, to con-
troll the supply of water, 50 that 1t may
be stored and utilized for irrigation.
The present force of the general land
office, it is said, is inadequate to pro-
tect these reservations. Unless some
plan is devised by congress for protec-
ton of the forests, 1t is manifest that
the object sought to be accomplished
Will fail. The secretary criticises the
law authorizing the issue of permits
for the cutting of timber from the pub
lie domain, and urges that the timber
cut therefrom should be sold for suffi-
cient sum to make it possible to pre-
serve the standing forest and see that
the cutting Is done in a way not de-
structive to 1t.
The review of the pension office con-
sists chiefly of statistical information
furnished by the bureau.
One of the interesting features of the
report is the discussion Of relations be-
tween the government and the Pacific
bonded railroads and the possibility Of
collecting the amount due the govern
ment from these roads. The report
urges that two things are to be consid-
cred:
First-The collection of debt due to the
government.
Second-The creation of a great through
line from the Missouri river to the Pacific.
which was the original purpose of the
government leading to the issue of sub
sidy bonds.
The report shows in detail the amount
of subsidy bonds, the amount of the
interest which the government has paid
on them and the amount of first mort
gage bonds. The secretary says the
government Is already out $117, 900
upon these roads, and that the first
mortgage bonds only amounted to $64,-
$4,000; that the property Is worth vast
ly more than the first mortgage bonds
and that the government interests can
be protected, If necessary, by taking up
these bonds. He says all of these bonds
are now maturing and draw per cent;
that they could be easily replaced with
3 per cent bond If the government
guaranteed them, and as the govern
ment holds a second lien and must pro-
tect the property against first lien, the
government should see to 1t, f any new
set of bonds are issued thai the first
mortgage bonds draw no higher rate of
interest than government bonds would
draw.
The secretary says the net earnings
of each one of these lines during the
past 10 years have made an average Of
nearly 6 per cent on the sum of first
mortgage bonds and of the government
subsidy bonds, and suggests the posi-
bility of new issue of bonds guaran-
teed by the government. drawing per
cent, equal in amount to the first mort
gage bonds and the subsidy bonds with
the interest on the same. AS the roads
could easily earn the interest on these
bonds and leave handsome surplus,
capitalists should be found who would
buy the property, subject to the bonds,
and pay fair sum into the treasury
each year towards their liquidation.
The secretary discusses the scheme of
government directors and also of the
reorganization commission of the Union
Pacific, and says, finally, that the gov
eminent, being in the attitude of second
mortgage security holders, 1t Is abso-
lutely necessary, in order to protect its
claim, that negotiations between the
government, the other parties in inter-
est and such capitalists as are likely to
take hold of the enterprise. This work
can not be successfully performed by
congress, and the responsibility for it
should be placed at once by congress
upon a commission or upon some duly
authorized agents of the government,
whose duty 1t should be to take the
subject up in a business way and work
out the best plan for disposing of the
governments interest with the least
possible loss.