Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1906-05-04
G,x.,,m.nt AID For snn rrunci.cu.

Government AID For San frnnctscn.
WAsHISGToS. May 2,-In the serate
today Mr.. Newlands presented n JOINT
resolution directing the senate commit.
tee on finance and the house committee
on ways aud means to investigate the
feasibility Of the governments guaraii-
teeing bonds to assist in the rebuilding
OF San Francisco.
The resolution ~rccitcs In" recent dis
aster and says hat under tine power
OF the general welfare clause Of the
constitution congress should come tn the
aid OF San Francisco.
The resolution follows:
Resolved 10y the senate and house Of
representative of congress assembled,
that the committee on ways and means
Of the house OF representative and the
committee on finance Of the senate
consider jointly the various plans for
financial aid III the restoration OF San
Francisco. and that they rel ort to con
gress whether or not it is advisable or
practical FOR the nation ii government
to aid III the restoration of San Fran
ciscC, winch will enable tue city to
secure at low rates OF interest the money
necessary Tor public works as well us
the money necessary for the restoration
OF the commercial, residential and
manufacturing buildings of San Frac-
cisco, to be loaned at fair rates Of
interest To property owners uron note
AMI mortgage, such guarantee Of credit
to be conditioned upon the approval by
the president oi the United States of
the plans proposed and the expenditures
hereunder; or whether it Is
practicable or advisable tu promote the
organization of d great financial corpor.
alton. national or state, half OF whose
stock shall he taken by subscribers for
cash and half OF which stock NAV be
taken 10y San Francisco property own.
ers for property COVE! ed to such cor
poratIop ut m appraised valuation,
the ash subscribed to be used eithe r
for loans to mdiviiual owners OF San
Francisco property, or to be expended
IN improving property 80 conveyed to
such corporation, with provisions for
the gradual sale Of such property after
the successful completion of the work
Of restoration, such plan to involve
profit to stockholders thus cooperating;
and whether or not it is practical OF
advisable for tie United Stales to invest
I'D the stock Of such corporation or To
make Il loan to such corporation upon
the lines heretofore pursued by tie
the national government i'll aid of
national expositiona Tor the promotion Of
commerce between the states and with
foreign nations, or whether any other
plan Is advisable or practical Tor MA.
tlumal aid III the restoration of Snu
francisco.
That whatever plan Of aid he ad
vIsed, Il board OF national commission
crs experienced i'll exposition building
to be appointed by he president, by
and with the advice and consent Of the
senate, shall be included with such
powers OF control over both plans and
expenditure rs may be deemed advis'
BILE
MIR. Newlauds then had read a dis
patch from San Francisco printed to,
day in which he was quoted as say inr
that New York tinancicrs had agreed
to supply 100000, 900 for the restoration
Of the city of San Francisco. He sale
that the article had bccn given wide
publicity 10y the Associated Press ant
that while hp had hppu in Now Snrl
FOR the past two ur three days consult
ing with the iinunciers on the subject o
the restoration Of San Francisco, the
statement printed WAS an cxnggeration
Tho Newlands resolution was referred
"a the finance committee.