The Washington times., 1903-01-15
IILuION LOAN
IN SIGHT TO MEET
ALL DISTRICT NEEDS
Favorable Report by House
Committee.
THE MEASURE IN DETAIL
Reasons Set Forth by Commissioners
Why Such Action Should Be
Taken at Once.
THE MEASURE IN DETAIL

Relief from the onerous financial bur
dens which are leaning heavily on the
District owing to the costly improve
ments made in the course Of the past
few years is provided in bill which
the House Committee on the District
today unanimously ordere reported
with favorabIy recommendation for its
passage.
The bill provides for a loan of S1O,-
COG. 600. OF as much of that amount as
the District Commissioners may deem
advisable, by the United States Treas
ury, to be used in meeting the obliga-
tions of the District. This sum is to be
refunded out of the Districts revenues
at the rate of 100000 per year within
twenty years, together with interest at
the rate OF ? per cent.
The Bill in Detail
The bill is as follows:
BE 1t enacted by the Senate and
House Of Representatives in Congress Of
the United States assembled:
THAT until and including June 80,
1923, the Secretary Of the Treasury is
authorized and directed to advance from
time to time, on requisition Of the Com
mfssioners Of the District OF Columbia,
in the manner now prescribed by law. out
of any monies in the Treasury not other
wise appropriated, such sums as may be
required 10 meet the obligations of the
District of Columbia on account Of its
share of the extraordinary expenses for
municipal Improvements authorized or to
be hereafter authorized by Congress-:
PROVIDED, That the total advance
hereafter made under this act, taken II
connection with those heretofore made
under the acts Of February Il, 1901, and
July !. 1902. shall not exceed the sum
Of SO ,0e0, 600, which said total sum so
advanced shall be repaid TO the Treas
ury OF the United States within twenty
years from July 1, 1908. out of the taxes
and revenues collected for the support
government Of the District Of
CoIu-l5ia. at The rate OF s50e. 600 per
annu1a OF the principal, together with
interest upon the deferred payments al
the rate of per cent per snnum.
The bill repeals all acts in conflict
with the provisions OF the bill"
Must Wait General Days
It will be several days before Repre-
sentative Babcock, chairman Of the com
rnittee, will be able to report the bill
to tho House. It being his intention to
collect ali data possible tending TO show
the desirabIIity Of the legislation. Al
active effort viii then be made by the
members Of the committee TO secure
the passage Of the measure at the pres
ent session. It is not believed that
If the bill passes the House there viii
be any objections raised in the Senate.
The bill was drawn BY the District
Commissioners. and has their indorse-
ment- In their letter transmitting the
bill 20 the House Committee, the Com.
missioners saw
The Commissioners have the honor
to submit the incIosed draft Of a bill
and recommend that favorable action be
taken thereon during the present session
of Congress.
The Commissioners Letter
They believe that the necessity ot
= settlement OF the District finances. OF
q permanent and business-like basis
such as they have been pressing for the
last two years. has now become impera-
tive The temporary provision for ad-
vances during the last and present fs-
cal years must be replaced by sons
Legislation, and should be replaced b!
a provision for permanent arrange
ment.
The apparent deficit in the Distric
revenues, which first appeared on the Is
Of July. 1901. was due to the extraordt
nary demands made uon them, and no
10 be an increase in current expenses
Besides the appropriation of Distric
revenues. exclusively for street exteu
sion purchases. and for one-half OF the
coast OF national objects within the Dis
triet OF Columbia. Congress authorized
extraordinary projects OF municipal i'm
pTovements. notably the sewage dfsposs
system. and the filtration plant. whicl
Continued on Second Page.)