The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-02-10
Frederic Haslkin's Letter
Put the Des ert to. Work.

YANKEE Z St PAM rsilro.A
proved the immense adyautss.ass
using electrical power in IN %
pulsicn Of it, trains. Ths ~ w
are known to the, Official. = ~
the railroads that cross the 49,. ~
lands. They would be poor S....
ness men not to buy all tbs h,s.
electric energy they can uss.. IA
want to do 90 HV
Mr.. Lane feels sure that r.,
could be made a general hcss
covering the security Of ths 4.
proved land at about $50 an ~.
(about one-fourth the current MI.
Ct fair irrigated land) and the ~.
tracts of the proposed power u,s..
making = bond something lits n.
present farm loan bonds. A. a.
the case Of the farm loan hoss.
the national government would a.
its backing and endorsement S s
bonds should be free from TAXATION
because they are to be used IA crs
ate taxable property and for n.
public good. 's
i With the present effort to redp..
the expenses Of national soysrn.
ment, this Plan would not conoir,
because these bonds would 20 =
, once on the open market fot ro,.
. eminent securities. Being Of IA.
highest security and tax free, the,
will get good price at once. i
is to be remembered also that h
making these bonds tax free, The
government will be a large beae.
ficiary, because the proceeds Of
these bonds are not to be used fov
government tax free expenditures
but are going at once to create in.
dustries subject to all federal and
state taxes.
| A Bond Issue.
l. While MIR. Lane was secretary Of
the interior he had conference
with some of the largest bankers
and bond dealers in the country to
ascertain their views on his prof.
ect Of providing farms for the Re.
turned soldiers. These distribu.
tors Of securities told Mr.. Lane tia,
q half billion dollars worth Of tai
free bonds, paying 3ls per cent
could be absorbed at once. Nr
Lane thinks this equally true O.
the reclamation project bonds Of
the plan he has outlined.
Mr.. Lane points to the Roosevelt
dam and the resulting irrigation
of nearly two hundred thousan
acres of land. besides the produc
ton Of over two hundred thousan
horsepower in electrical energ,
The farmer is now paying less tina
,$4 per acre per year for the waite
The uses on his land and he has va
ter when he wants it. The city q
Phoenix and its people are gettin
cheap electric light and powet an
SO are the smaller cities through
out the region. And the result q
these successful workings is ,ths
the whole undertaking will be full
paid for by these earnings befor
ia is all due, and that thereafte
the farmer will get his water fc
irrigation free. because the poue
revenue will be more than enodg
to meet all the operating expense
and requirements.
Before the water came to thel
the lands that now. receive waite
ifrom the Roosevelt dam were mos
.,ly worthless desert. Now they q
I valued at from $500 per acre VI
ward. Under the cotton grown
| excitement last year some OF u
I Salt river farms sold above 81
! per acre.
j IF the only purpose Of develop
ing these lands was to add to OF
arabic territory. and to increal
the wealth and productivity Of Il
United States. it would still be
splendid business fer the COVER
ment." says Mr.. Lane. "But
means also that thousands Of en-
gems will be made independel
workers. contributing handsome
to the general welfare, without q
cost to the nationa! governmel
It would seem to be our imperati'
duty to get started at once and 8
some of the idlers out OF the ciu
81 to work on these projects.