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Show OTTERING GENOA CONFERENCE SAVED I SMITH-M'NARY I BILL INDORSED I BY PRESIDENT I Harding Approval of $350,-000,000 $350,-000,000 "Revolving Fund Given Delegation j HOW IT WILL WORK Government Will Finance Projects to Drain or Irrigate Lands j WASHINGTON, April lS Appro al of Pres. Harding for the McNary bill providing for creation of a $350.- (miu.OOu revolving fund lo be used fo H development of western and southern H re' lainiuion a nd dra i,roject H given today to a concessional delega- H lion which called at the White House. Members of the delegation Which nrss headed .bj 3en:itor McNary. Re-publican. Re-publican. Oregon and Bep'resentatlve Smith. Republican, Idaho, said th president expressed deep Interest m Hp- legislation which Is pending in H boththe senate and house. Mr. Hard- ing indicated, delegation membeis B aid. that he would confer with party leaders on the matter H STliOM. st PPORT. The president was told that there was strong support for pass,ige of th" H measure at this session Of congre.9 land that enactment of the bill would I result in the reclamation of millioi -of acres of land and provide homes j tor thousands of people. A mcmoran- H dum .submitted gy the delegatic-n B showed that under the reclamation act HJJ of 19ul'. approximately 8,000.00.0 acres BHJ of desert lands had been reclaimed. more than 40,000,000 families had HH been established on farm lands and HHJ the national wealth hail been Inereas- HJ ..(I approximately $600.(i00.00ii ind HHJ foodstuffs valued at $150,000,000 HHJ raised each year on these various pro- JJJ jects In fourteen states all at an ex- HHJ Ipehdlture bj the government of aji- I proximately $130,000.01)0 from the HH fund created from the sale of public I lands and from land free of various HHJ STRIKING EJt IPI I Representative Smith presented to JJJ the president a detailed statement ot BHJ the Minidoka project in Idaho as typ-leal typ-leal of the Matus of other projects. The cost of the construction of this BBB undertaking was $5,800,000 of which BB $1,000,000 has been repaid. Value ot BBB the farm Improvements and livestock BBB was placed at $30,374,000. assessed BBB ... .r 1 A CIH fifth rt 9 BBBH 4. 00 1. and various other a-KscLs ii I which he said showed the highly sue- BBj cessful result of the undertaking BBV BILL EXP1 1 1 N ED. (Note How the Nniith-McN.ao bill BVV will operate lo benefit the western states was explained in detail by for- BBV mer Governor William Spry, now BBV United States land commissioner BBV i w hen Mr. Spry was a guest of iht BBV i Weber club here on March 10. BBV I At that time Commissioner SprJ jBBl 'predicted the approval and passage BBV ;.-. H prepare at once i take advantage of BBl its provisions. He suggested golnij ahead at once with plans to develoj lhe Provo-Weber river Irrigation pro- BBl B MONEY IS LOANED , I'nder the Smlth-McNary act the ' governinent does not give the money BBV outright, but loans it to get the work BB started. The land benefited must r. - BBV pa the amount of the joan Thus p I BBV fund is kept intact to aid project af- BBV ter project. It thus gets Its name BBV of "revolving fund. Irrigation or drainage districts must organized, much like school dls- tricts are organized. A survey of BBV the project must be mnde and sub- BBl milted to government experts. If the BBl (Continued on Page Two.) BBl SMITH -M 'NARY BILL INDORSED BY PRESIDENT (Continued Prom Page One) prnji.ct is deemed necessary, feasible and reasonable as to expense. the I government loans the monv to carry out the project. BONDS ix ESCROW. The reclamation district issues bond- back.-u by :,iort (.-n)- on Ho property In the district. Those bonds are held in escrow until th,. project has reached such a stage that th improvements im-provements have put a value of $2 on each $1 of property back of th bond.s Th. n the bonds arc sold to Investors and the government gets its raonev back ) |