The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1909-06-25
GIGANTIC BONDING SCHEME
Secretary Board Of Control of National
Irrigation Congress FaVors Five
Billion Bond Issue

llOn congress winch holds Its seven
teenth annual session in Spokane
August 9 to IA, has a plan which he
will lay before the congress and ask fol
its Endorsement memorializing Congress:
to issue hundred year bonds bearing
three per cent. interest in the sum o.
five billion dollars, or so much thereof
as may be necessary for the following
specific purposes:
One billion dollars for drainage oil
overlooked and swamp lands, thus re-
claiming an area equal to 100000
square miles.
One billion dollars for the reclama-
ton by irrigation Of 100000 acres
OF arid and semi-arid lands, now partly
or wholly waste.
One billion dollars to construct and
improve deep waterways, to develop
thousands of miles of territory now
without adequate transportation facili-
ties.
One billion dollars for good roads
and national highways, for the lack of
which the loss to the farm area OF the
United States is approximately $780,
100000 annually.
One billion dollars for forest protec-
ton, reforestation and conservation Of
the forest resources, thus assuring tim
Der and lumber supplies for centuries
to come.
Five billions OF dollars is an enor-
nous sum, but it is no more than is
actually required to carry out the
gigantic scheme in developing millions
of acres of lands in various parts of the
United States now absolutely worth
less" said Mr.. Hooker, in explaining
the plan. Congress will not be asked
to appropriate penny. The returns
from the Improvements would pay of
the bonds. The government would
simply act as a banker, as it does now
for the various irrigation projects. The
body issue would provide ample funds
as required to carry out the work in
the several divisions, at the same time
giving the best possible collateral to
those investing in these securities.
Government figures bear out the
statement that there is enough good
land overlooked in Minnesota, Wiscon-
sin, Kansas, Mississippi, Nebraska,
Arkansas, Louisiana, Kentucky and
Tennessee to make an area as large as
the state of Missouri, or more than 49,
100000 acres, while in the eastern,
central and western states there is more
than as much more, or about 100, 000,-
900 acres in all. At conservative es-
innate Of SIS an acre, the sale of this
reclaimed land would justify the ex-
penditure of $2,5oO,0o0 900, or $50
per cent more than is required to
drain it. This land would support from
1000, 900 to 5000, 900 population.
approximately 40, 100000 acres of
land in western and southwestern states
are adapted to irrigation, which if re-
claimed at an average cost OF $25 an
acre, would be worth not less than
5000 an acre or total OF 1000, 000,-
900, and provides homes for more than
100000 persons. The economic
value of irrigation cannot be measured
in dollars and cents, but crops worth
from $500 to $1,000 an acre are not
rare in the irrigated districts. There
are already IA, 000,0O0 acres under irri-
CATION and the reclamation service es-
Inmates that it will have reclaimed
100000 at a cost not to exceed
$70,000,000 at the close of 1911.
THE construction and improvement
of the deep waterways required to pro-
vide better and cheaper transportation
facilities is, I believe, 100 per cent
investment, from the fact that two
thirds of the bulky freight could be
shipped by water routes, at cost to
the shipper OF not more than one-sixth
of the present rail rates. The impor-
lance Of this becomes apparent when
it is remembered that the food ques-
ton is becoming a world problem.
THE state of New York is expend-
ing SOL, 900, 900 to enlarge the Erie
canal, and 500, 900, 900 is the amount
required to improve the Missouri river
from a point about 40 miles west OF