Imperial Valley press., 1919-09-23

the west know, inc nrlG&tL.H idc1
IAN away with the people, As at one
time before banking laws We're per.
fected there was Indicating in bank
ina; vou andi know that twenty years
ago there was wi.dcattjn& in ilriga-
ton projects. Those wildcat PROPOSE
tions have brought grief to many peo-
pie and have put fear into the inVaat-
or, Sc that anything that is now mark
ed water bond" or water district
bond or irrigation district bond
finds a very slow sale and cold mar
ket in the eastern states by men who
have in the asst suffered through such
investments.
1t is a fact that you may say there
is nothing in a name, but there is
somethingin name. The school bonds
and the municipal bonds of the I'M
Ipelial valley sell to careful buyers
who investigate the assets back of
the proposed bonds. They have sold
at premium, very high, since Imper-
i, valley has been ON the map. And
YET when you offer irrigation district
bonds. and they are named, It seems
to depress them in the market.
The laws have since been perfected,
bat still we have found little market
fer our bonds outside of the State Of
California, and that is limited mar
ket where it would be impossible to
absorb a bond issue of this size.
Then, too, in our particular buyer
/ locks at the case the bond map and
sees from a glance that our water is
delivered by us out of all physical
AID legal control and possession, not
only the water but the works are out
| in Il foreign country, and foreign
c-dntry whose reputation for stabil-
/ i+v is not very good. That decrias at
/ once our credit and depresses the
Z arllet for our bonds, as you can very
readily sec. This and our annual con
t.oversy with Yuma and the govern
ment over eur diversion gives our
T., bonds a black eye.
And the additional fact, if anything
additional were needed, was the de-
cision of the Federal farm-loan bank
to withdraw from the Imperial Valley.
| While it was not made public in the
sense Of publication, vet you know
1lNceesr through the underground
railway. found that all the financiers
OF the Pacific coast knew of it before
l did. And it makes it impossible for
u to float any considerable amount
Of bonds such as those.
In conclusion, | say that the con-
S'ruction of the all-American canal is
3solutely necessary. 1t is necessary
il we are to get our irrigation system
cat Of a foreign country and under
tie protection of a stable government
II we are to get it out Of Mexico and
under the Stars and Stripes. 1t is ne
c.ssaIy if the Imperial irrigation dis
tlict is to be permitted to conduct it's
q fairs on a business basis with an eff
fi'ient organization and central man
agement. 1t is necessary if $4,000 peo-
Lle and crops on 100000 acres are not
t. be left dependent upon an uncer-
tain intake, but are to have an ade-
ouate supply Of water based upon a
lelmanent diversion. 1t is necessary
II we are to end our annual contro-
VorSy with Yuma, which threaten eth
en- to destroy their country OF ours. 1t
is necessary if the United States is
ever to undertake the reclamation of
500, 900 acres of land now too hioh to
/ be irrigated from any existing canal
o. from the districts intake fully one
/ haIf Of which is unentered public land
now worthless, but with water could
be made into homes for 100000 peo-
! T e. 1t is necessary if our government
Is going to save an entire American
@ immunity from ruination and pre-
won't its very life L>.pg Slapped out BY
a foreign country II is necessary il
YOU are going 10 save Imperial valley
from "a menace Of 100000 acres of for
e2n land which threaten 10 drain oul
canals of water and leave our homes
and farms to divert to the desert.
The all-American canal must bc
built, Gentlement, and we have The
necessary assets, we haVc the poten
tial waltz, but it is difficult if not i'm
possible, for us to realize the casl
upon them without your assistance.
You can do this thing for us, yor
cen make a success Of this great I'm
d.rtaaing, you can free 5000 Amor
lean citizens from the domination ant
! tyranny Of MEXICAN control, you ca
remove from Yuma a menace tina
threatens their project. You can Civ
, to Imperial valley an adequate an
, permanent source Of water supply an
remove the constant threat Of thci
drying up and revertinG 70 the dcscr