The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1922-03-23

the vast wealth of the West and
Alaska, reserved by the federal gov
eminent for the benefit of the people
of the United States. He fixes this
wealth at $15O,0OO, 100000. In some
of the Western states it exceeds by
several times the assessed valuation of
lands in private ownership. This vast
wealth held in federal reserve es-
capes all taxation for state, county,
township, town school district, or
other municipal purposes. It's with
drawal actually hinders local improv-
ments.
The strength of the proposed leg
islation lies in the means provided
whereby valuable assets created thru
and settlement of the lands in dis
trict are rendered liquid and available
for financing the reclamation of other
lands. This situation is brought about
thru further financing of bonds of the
districts that are organized. These
bonds when issued will be deposited
with the federal farm loan board. And
when the value of the property in
the, district subject to assessment
for the payment of the bonds, is not
less than twice the par value of the
bonds, the board shall offer the bends
at public or private sale and shall
deposit the proceeds to the credit of
the reclamation fund. By this method
the government simply authorizes an
existing governmental agency to give
it's estimate of the value of the
property, thereby entailing neither
moral nor legal obligation upon the
government to assume any Of the
liabilities imposed by the issuance of
bonds.
An accurate statement of the num-
Der of times the fund made available
herein will turn over can not be made.
But it is fair to assume that the
$3.50, 100000 will make three turnov-
ers in 18 years, allowing period of
years for each turnover. It may
be asserted with confidence that with
in period of six years from the time
of construction the land within the
project will have attained sufficient
value to warrant the sale of the dis
trict bonds to the public.
We can only gain in national wealth
as we keep our people employed. We
can only have a contented populace
as the mass is engaged in lucrative
work. Forced idleness long continued
will sap the best of institutions. The
war has interrupted the old lines of
activity. 1t may be some time be-
fore they are fully restored. For the
time being some of the energy of our
people should be directed into new
channels, such as internal improve
ments. Unless there is to be gen.
eral retrogression, a breaking down
of civilization, the human family will
increase, there will be more mouths
to feed, more bodies to clothe, and
more wants to be supplied than ever
before. At the present hour there is
not overproduction, but an unusual
underconsumption. We firmly be-
lieve thru favorable congressional
action with respect to this measure
the food supplies of the nation will be
increased, the home market extended
the idle given work, and the ex-ser-
vice men and women afforded an OPP
portunity Of acquiring land for homes.
The reason why the government is
asked to loan $3.50, 100000, with which
to finance reclamation projects, grows
out of the fact that the money of
private parties is generally loaned on
existing securities and not upon Sc
curities to be created by the money