The Topeka state journal., 1906-05-02
STARTS 1T
Plan to Have Government Lend Aid to
San Francisco.

Washington, D. c., May 2.=Mr.
Newlands presented a joint reso-
luton directing the senate committee
on finance and the house committee on
ways and means to investigate the
feasibility of the governments guaran-
teeing bonds to assist in the rebuilding
of San Francisco.
The resolution recites the recent dis
aster and says that under the powers Of
the general welfare clause Of the con-
stitution congress should come to the
aid of San Francisco.
The resolution follows:
Resolved BY the senate and house
Of representa- tives in congress assem-
bled, that the committee on ways and
means Of the house of representatives
and committee on finance of the senate
consider jointly theSvarious plans for
financial aid in the restoration of San
Francisco, and that they report to con-
gress whether or not it is advisable or
practicable for the national government
to aid in the restoration of San Fran
cisco, either by a guarantee OF credit to
the city of San Francisco, which will
enable the city to secure at low rates of
interest the money necessary for pub
lie works, as we'll as the money neces-
sary for the reStorat ation of the COM
mercial, residential and manufacturing
buildings of San Francisco to be loaned
a fair rates Of interest to property
owners upon note and mortgage, such
guarantee of credit to be conditioned
Qp0H the 5BDEONd4 By Z COMMISSION 10
be appointed by the president Of the
United States Of the plans proposed
and the expenditures made hereunder;
or whether it is practicable or advisable
to 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
fstOck may be taken by San Francisco
property owners for property conveyed
to such corporation at an appraised
valuation, the cash subscribed to be
used either for loans to individual
owners of San Francisco property. or
to be expended in improving property
4 so conveyed to such corporation with
/ provisions for the gradual sale of such
property after the successful compile
+ ton of the work of restoration; such
i plan to involve profit to the stOckhold-
erS thus cooperating; and whether or
+ not 1t is practical or advisable for the
United States to invest In the stock of
! such corporation or to make a loan to
such corporation upon the lines here
! tofore pursued by the national govern
ment in aid of national expositfons for
+ the promotion Of commerce between the
t states and with foreign nations, or
whether any other plan is advisable or
practicable for national I'd in the re-
I storation Of San Francisco.
THAT whatever plan of aid be ad-
i vised, a board Of national commission
! ers experienced in exposition building,
/ to be appointed by the president. by
and with the advice and consent of the
/ senate shall be included with such pow
ers of control over both plans and ex-
! penditures as may be deemed advisa-
Dle."
Mr.. Newlands then had read a dispatch
/ from San francisco printed today in
which he was quoted as saying that
/ New York financiers had agreed TO
/ supply 100000 600 for the restoration
Of the city Of San Francisco. He said
that the article had been given wide
1 publicity by the Associated Press and
that while he had been IN New York
/ for IT,. mast two or three days consult
ing with .lnanciers on the subject Of the
restoration of San Francisco the state
ment printed was an exaggeration.
The Newlands resolution was referred
to the finance committee.