Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-01-25

The expression of gratitude to its saw
tours and guardians by a great and
generous government, this being as
yet practically the only great nation
that has not provided in some sub
stantial form for the return of it's SOL
diers to the land and an opportunity
for them to build com rdrtable homes
in the country they have defended
with their lives 3rd The develop
ment Of our great natural and unused
resources, thereby preventing an un-
desirable CONGESTION in our cities and
Industrial .centers and making it cas-
lily possible for this great country to
provide foodstuffs at n reasonable
price for our rapidly growing popu-
lation.
Some Act Sure.
Some such act. then, is practically
assured, yet ii appears that the New
Mexico Legislature will in all proba-
bility adjourn before the Federal Gov
eminent acts 1t becomes necessary
then for New Mexico to find some
remedy for this situation. Two plans
have been proposed and have found
favor and backing One is that some
board already in existence be en-
the United States Government in
event and after the passage of such
act by the United states Congress-
Such board to be provided with an
appropriate contingent appropriation
1t is suggested that the Council of
Defense be empowered as this board
and that the $500 00000 remaining
In the Council Of Defense fund be
used as such contingent appropria-
tiop. This board to remain in oper-
alton until such time as the New
Mexico Legislature should meet
again and make proper permanent
provision. The beauty of this plan is
that the board and the funds are al
ready At hand and no better nor no
more logical use could he found for
this Council g Defense fund than
that of comforting it inc permanent
take BILE revenue producing asSots and
homes for our returning soldiers md
sailors.
Another plan is that the state Land
Commission he the board so empow-
cred and authorized to act with the
United States and that some portion
Ct the Council of Defense funds or n
direct appropriation by the Legisla-
ture he made for administration en-
pcnses and that the permanent school
funds derived by the state Land
Commission from the sale of state
lands now invested in school and 9TH
or bonds be invested in conjunction
with the government funds in the
of homes and in increasing
the revenues of the state This in
vestment would he as permanent and
and would bear the same rate
Of interest as now provided by the
bonds which are being purchased, J
with the further benefit that the
state would be using its credit to en-
nance its own wealth and revenue.
Since the United states would fur
niSh three dollars for one furnished
by the state in this settlement and
Development project it is obVious that
The state, by the latter scheme, would
get not only the per cent now being
received with the same security. but
at the same time add four times to
the taxable wealth of the state for
every dollar expended, together with
the increment due to such develop
ment.
In any event the state could issue
bonds with which to furnish the %
per cent required to cooperate with
the federal government which bonds
would he backed by ample security,
would pay their own interest through
the payments from settlers and would
he returned many times over in taxes
paid TO the counties and state.
1t is readily apparent then that the
legislators of New Mexico are con-
fronted with n great and farreaCh-
ing opportunity--an opportunity for
using the states credit in a most pro-
fitable. wise, yet conservative man
ner. Without any appreciable ex-
pense the taxable assets of the state
can be increased by $50, 900 600. 90. II
is to be hoped that our Legislators
and leaders are big enough, broad
enough, have sufficient of the en-
piro- building capacitv to vision the
entire Rio Grande valley dotted with
hOmes--rcal homes-peopled with
tried and proven Americans having
an interest in the soil by ownership,
having an interest and pride in their
houses. their live stock. their land,
their roads. their schools, their pub
lie improve ments and, above sall, inn
hued with n spirit of patriot sm and
pride for their state and their legis-
lators who have given them this OBJ
and made this vision pos
sible.