The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-07-24

~ ANNH 80 49, -"
First Greatly to augment the
small Of money which g. nov
available for the reclamation OF land
by Irrigation. This will be accom-
plished through the eale OF bonds OF
nss sssn ,sa, 'sdis ssssSiishsa. '
To enable the secretary Of the In
terror TO commence n complete
projecfE. the secretary OF The treasury
n authorized and directed 10 transfer
from time 10 time TO the credit OF
the reclamation fund an a~gsregste
with a Limitation Of ~f9e.0o0.ooo for
the first year, $1,000 the second
year. al 5000. 600 the third year. and
each succeeding ear for a period Of
three years a sum not TO exceed $780,
At the end OF 20 years the bill pro-
vides there shall be transferred from
the proceeds OF the reclamation fund
arising from tho sale OF district bonds
TO the treasury OF the United States
tto.o0os00 10 annually until the sums
advanced shall have been fully paid,
By specifying the maximum
vanced out OF the federal treasury
during each OF these years. the OBJ
legation OF the government Il clearly
defined. while the foundation OF a
constructive program "a be estab-
iished.
second. Future reclamation pro-
jects under the bill shall be initiated
by duly organized districts In coop
Grafton with the secretary OF the In
terror. Before such cooperation
shall be extended. the landowners
who desire their land reclaimed shall
organize n district under state laws
into a corporation having fun taxing
power.
Third. All future recla nation pro-
jec;a undertaken In virtue Of this
legislation are placed on az interest
paying basis. IL IL thought under
existing conditions the government
should not be called upon 20 supply
funds 20 continue work OF this char
aetsr without interest. as Il has In
The past. because the money Is d.
rectly advanced from the treasury to
the reclamation fund and does not
accrue the sale OF public lands
and from other sources
Fourth. The money provided by
this measure cannot be used until
a district shall file a petition with
the secretary OF the interior. accom-
panied by maps showing tho lands OF
the district together with plans. es-
Inmates and description OF the pro-
ject TO he constructed. and the pay
ment OF one-haif of the estimated
cost Of the preliminary Investigation.
Thereafter. II tho secretary OF the
interior believes the project is fea-
that the district IL duly authorized
to enter into a contract with the
United States. that the validity of the
organization OF the district and OF the
bonds has been determined through
a judicial confirmation. and the own
ELS Of the excess lands shall have
agreed upon h price. terms. and
conditions at which the excess hold
inss shall be sold TO settlers. the
secretary may enter into a contract
with the district for the reclamation
OF the lands.
Fifth. The strength OF the pro-
posed legislation lies In the e
provided whereby valuable assets
created through the reclamation and
settlement of the iands In the dis
trict are rendered liquid and avail
able for financing the reclamation OF
other lands. This situation IL brought
about through further financing OF
the bonds OF the district that are
organised. These bonds when issued
farm loan board. And when upon
request of he secretary OF the inte-
rior the board makes an investiga.
ton and determines that the value OF
the property In the district, subject
to assessment for the payment OF
UUnuNs ~ NOT ItFN imam TWICE the par
value Of the bonds, the board shall
offer the bonds at public or private
sale and shall deposit the proceeds
TO the credit OF the reclamation fund
BY this method the government h
not asked to LOAF Its credit to the
districts. but simply authorizes an
existing governmental agency to give
its estimates OF the value OF the
property, thereby entaiiing neither
moral nor legal obligation upon n
government to assume any OF the
liabilities Imposed by the issuance Of
bonds.
After the bonds are sold and re-
turned to the reclamation fund. the
proceeds again become available for
rStinmatica OF other lands.
An accurate statemeAl OF the nun
Der Of times the fund made available
herein will turn W cannot be
made. Bat II Is fair 10 assume that
the $3.50. 0OO. 900 VIII make three
turnoNers In IS years, allowing a
period Of six years for each turn
over. For example. II may he as
serted with confidence that within a
period of six years from the time
OF construction the land within a
project will have attained sufficient
value 10 warrant a sale OF the dis.
trict bonds to h public.
Sixth. The bill provides that as "a
all excess lands In a district ind all
unentered public lands therein ex-
service men and women shall have
the preference to purchase for q
period Of so days from the time wher
the lands are thrown open for sale
The conditions In the west are such
that under this preference right ex.
service men and women should re-
ceive at least one-half OF all tn,
lands reclaimed.
Seventh. The bill wisely provides
that the secretary OF the interior, In
entering into a contract for the con
struction OF a project, must fix the
maximum farm unit at 100 acres, be-
ing tho amount OF land which ans
person will be allowed 20 hold and
receive a water right. Excess land
owned by private parties are To be
sold by the secretary at prices. terms
and conditions agreed upon.
Eighth. Excess acreage held by
private owners shall be sold in farm
units Of a size as will. In the opinion
OF h Eecreiary' support a family. Al
prices and on terms and conditions
agreed upon between the secretary
and the district.