The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-03
NEWLtNDN'S PLtN or MUIR.
Tho Senator Proposes That the Government
lend LIS CrcNli 10 San ErAnCIacn.

W v W '" 'e'
w,sHINGToN, May 2-Senator Newlands
Of Nevada to-day proposed a resolution
looking TO Government aid in the ~restora-
ton Of the city Of San Francisco by a direct
loan, n qua RI ntee Of credit or by ooopera-
ton through n great corporation. The
preamble TO the resolution recites the ron.
ditionS in the wrecked city. its importance
as n commercial centre and the power of he
Government under the Constitution to en-
tend sue aid under the provisions relating
to the general welfl re OF the people and the
regulation Of interstate and foreign com
mercs, and continues
THAT the Committee on WAYS and Mems
Of TIA" House of Representatives aud the
Committee on Finance of the Senate consider
Jointly the various plans for financial aid
IN the "a l0ratiOn of San Francisco, either
by a guarantee of credit TO the city of San
Francisco. which viii enable the city to
secure At low rates of interest che money
necessary for public works. as well AZ the
money necessary for the restoration of he
commercial. residential and manufacturing
buildings Of San Francisco. TO be loaned at
fair rates Of interest to property owners upon
notes and mortgages. such guarantee OF credit
TO he conditional upon the approval by a COM
mission to be appointed by the Pr esident Of the
United States OF the plans proposed and the
expenditures made thcfeunder: or whet her IL
IL BILE or advisable 10 promote the
organization of a great financial corporation.
national or State. half of whose stock shall
be taken by subscribers for cash. and half of
which stock may be taken by San Francisco
property owners for property conveyed to
such corporation at an appraised valuation,
the cash subscribed to he either for loans to
individual owners OF San Francisco property
or to be expended IN improving property so
conveyed to such corporation, with provision
for the gradual sale of such property after
the successful completion OF the work OF
restoration; slcl, plan TO involve profit TO the
II stockholders thus cooperating; and whether
or not II ~ practicable or advisa BILE for the
United states to invest in the stock of such
corporation or TO make II loan 10 such corpora
ton upon the lines heretofore pursued by the
national Government in aid of national
eXpositions for the promotion of
bet wren the States and with foreign nations.
or whether any other plan is advisa BILE or
practicable for national aid in the restoration
OF San Fra ncisCo.
That whatever plan Of aid be advised. a
board OF national commissioners, experienced
in exposition building, to be appointed by The
President. by and with the ad vice and consent
of the Senate. shall he invested with such
powers of control over both plans and ex-
pendirurcs as may be deemed advisable.
In support OF his proposition Mr.. New
lands referred to the great loss, which,
he said, was not alone Of local significance,
hut of national importance, IF San Fran
cisco is 10 be restored, " he said, 1T ought to
be restored without delay" He said the
question before this joint committee of
Congress under his resolution was simply
with regard TO the plan Of having the Gov
eminent guarantee the credit of San Fran
cisco to the extent Of 500 600 900 or 500
OOn. 400, He believed the American reoplo
would approve the project.
MI. Hopkins of Illinois inquired why 1t |
wouldn't be just as feasible for the Gov