The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1910-01-31
MEASURE PURIFIERS
RECLAMATION
BILL FOR SALE OF CERTIFICATES
WOULD HELP GOVERNMENT
PROJECTS.

Senator Carter on January - as
has been told in this paper. introduced
a bill to authorize the issuance and
sale of certificates of Indebtedness
against the reclamation fund This
bill. if passed. should be instrumental
in hurrying the completion Of the
different reclamation projects on
which work would be suspended as
soon a. the fund was exhausted In
view Of the local interest that il at
tached to this bill il might not be out
of place to reproduce il in its en-
-tirety
Be 1t enacted hy the senate and
house of representatives of the United
States of America in congress es-
scmbled:
That to enable the secretary Of the
interior to complete and properly ex-
tend reclamation projects already be-
gun the secretary of nhe treasury is
authorized 10 borrow from time to
time. at a rate of interest not eS-
ceeding per centum per annum, such
sum or sums as in the Judgment of
the secretary of the interior may Ice
necessary To complete the reclamation
projects heretofore begun. including
necessary extensions thereof by the
secretary of the interior. and To is
sue therefor certificates of indebted
ness in such form as lie may prescribe
and in denominations of $50 or of null
tiples of that sum: and each Of said
certificates. together with interest
thereon. shall he payable out of the
to the provisions of an act of con-
gress. approved June IL. 1902. entitled.
An act appropriatiug the receipts
from the sale and disposal of pub
lie lands in certain states ana terri
tories to the construction of irriga-
ton work for the reclamation OF arid
lands and such payment Is hereby
guaranteed by the United States:
Provided. that the aggregate issue of
such certificates shall not exceed $780,
100000, and the provisions and PEN
alties of existing law respecting coun-
terfeiting and other fraudulent prac-
tees are hereby made applicable to
the certificates of indebtedness au-
with interest thereon accrued. at such
certificates shall he paid quarterly.
anu tsiCu t6ElillNatf SHtli DC ndgabttt
with interesttheredn accrued, at such
time after five years from the date
of its issue as the secretary of the
treasury may prescribe. That said.
certificates of Indebtedness may be
disposed of by the. secretary of the
treasury at no less than par under
such regulations as he may prescribe.
giving all citizens of the United States
an equal opportunity to subscribe
therefor: but no commission shall be
allowed, and the interest on said GER
tificates and any expense incident to.
preparing, advertising. and issuing
the same shall be paid out of the rec
lamation fund and shall in due course
be restored to said fund by including
the same with all other expenses In
future estimates of construction. OPP
Grafton. or maintenance. The GER
tificates authorized by this act shall be
exempt from taxes in any form by or
under state, municipal, or local au-
thority. That all money borrowed un-
der authority of this act shall be de
voted exclusively to the completion of
work ON projects heretofore begun.
That beginning five years after the
date of the issue of the first certif-
icate of indebtedness authorized by
this act 80 per eentum of the annual
receipts of the reclamation fund shall
be applied to the payment of said
certificates. which shall be Cancelled
when paid.